Intuitive Surgical, Fosun Pharma Form JV On Lung Cancer Diagnostic & Therapeutic

(RTTNews) - Intuitive Surgical Inc. (ISRG) and Shanghai Fosun Pharmaceutical (Group) Co., Ltd. announced a joint venture to research, develop, manufacture and sell robotic-assisted catheter-based medical devices.

The companies will contribute up to $100 million as required by the joint venture, an arrangement representing a significant expansion of Intuitive Surgical's relationship with Fosun Pharma.

The joint venture between Intuitive Surgical and Fosun Pharma will initially produce products targeting early diagnosis and cost-effective treatment of lung cancer, one of the most commonly diagnosed forms of cancer in the world.

The technology will be used in robotic-assisted medical devices based on catheters, and incorporates proprietary intellectual property developed or owned by Intuitive Surgical. The joint venture will be registered in Shanghai, where it will perform research and development activities and manufacture catheter-based products for global distribution. Distribution in China will be conducted by the joint venture. Distribution outside of China will be conducted by Intuitive Surgical.