Canada Approves Medtronic's Hugo Robotic-Assisted Surgery Platform

Medtronic plc MDT has received a Health Canada license to use the Hugo robotic-assisted surgery system.

• According to a news release, those procedures make up about half of all robotic surgery procedures performed today.
• In May, Hugo garnered FDA investigational device exemption (announced in Q4 FY21 earnings conference call), followed by the first clinical procedure with Hugo in Chile, which Medtronic announced in May. 
• The platform offers a modular, multi-quadrant platform designed for a broad range of surgical procedures with wristed instruments, 3D visualization, and surgical video capture option in Touch Surgery Enterprise.
• Medtronic announced in October that it received CE mark approval for Hugo. 
• Price Action: MDT shares are up 2.60% at $113.11 during the market session on the last check Tuesday.