PROCEPT BioRobotics' HYDROS System Gets FDA Clearance

PROCEPT BioRobotics PRCT recently announced FDA 510(k) clearance of its next-generation platform, the HYDROS Robotic System. This clearance marks an important achievement for PROCEPT BioRobotics as Aquablation therapy continues its rapid adoption, with more than 400 robotic systems now installed across the United States.

HYDROS Robotic System presents major technological innovations intended for broad market adoption after years of research and development, which the company expects to drive the next stage of its growth.

More on the HYDROS Robotic System

Aquablation therapy is a minimally invasive surgical procedure that uses a computer-controlled waterjet to remove prostate tissue, which causes lower urinary tract symptoms due to benign prostatic hyperplasia (BPH).

The HYDROS Robotic System represents the next evolution in the delivery of Aquablation therapy, combining cutting-edge technology with user-friendly features designed to deliver better clinical outcomes for patients and healthcare providers.

HYDROS features FirstAssist AI treatment planning, advanced image guidance, robotic resection, and a streamlined workflow. HYDROS is intended to increase productivity, elevate the experience of surgeons and personnel, and provide a more precise and consistent treatment plan for superior clinical results.

HYDROS is likely to move to full market release within the current quarter and be available immediately to hospitals across the United States.

Key Features of the HYDROS Robotic System

HYDROS System features FirstAssist AI, which uses advanced image recognition software to precisely detect important anatomy on ultrasound and recommend the best course of action for each patient. It was developed using a library of actual Aquablation therapy treatments.

The system combines digital cystoscopy, next-generation ultrasound imaging, and two high-definition touchscreens to provide simultaneous viewing of ultrasound and cystoscopy pictures and improved anatomy visualization.

The robot executes the surgeon's treatment plan to remove obstructive tissue while safeguarding vital anatomical structures using a heat-free waterjet. This enables efficient and predictable waterjet execution, standardizing the operative experience across a wide range of prostate sizes and shapes.

Industry Prospects

Per a report by Grand View Research, the global BPH treatment devices market, valued at $1.42 billion in 2022, is projected to witness a CAGR of 8.9% from 2023 to 2030.

Technological improvements, increased prevalence of urological illnesses, and growing patient awareness of potential treatment options have all contributed to the expansion of the BPH treatment device market.

The need for BPH treatment devices is also expected to rise soon due to the growing demand for innovative, minimally invasive, non-invasive technologies and Aquablation treatments, which have fewer side effects and quicker recovery times than open surgical techniques.

Price Performance

For the year-to-date period, PRCT's shares have gained 99% compared with the industry's rise of 9.4%. The S&P 500 increased 17.8% in the same time frame.

Image Source: Zacks Investment Research

Zacks Rank & Stocks to Consider

PRCT carries a Zacks Rank #3 (Hold) at present.

Some better-ranked stocks in the broader medical space are Universal Health Service UHS, Quest Diagnostics DGX and ABM Industries ABM. While Universal Health Service sports a Zacks Rank #1 (Strong Buy), Quest Diagnostics and ABM Industries carry a Zacks Rank #2 (Buy).

Universal Health Service has an estimated long-term growth rate of 19%. UHS' earnings surpassed estimates in each of the trailing four quarters, with the average being 14.58%.

Universal Health Service has gained 41.1% compared with the industry's 34.8% rise so far this year.

Quest Diagnostics has an estimated long-term growth rate of 6.20%. DGX's earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 3.31%.

Quest Diagnostics shares have gained 3.7% so far this year compared with the industry's 10.2% rise.

ABM Industries' earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 7.34%.

ABM's shares have risen 24.1% so far this year compared with the industry's 11.9% growth.

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