Shares of Microbot Medical Inc (NASDAQ:MBOT) rose 2.2% on Tuesday after the company disclosed that a Michigan health system has become the first customer in that state and the wider Midwest to install its LIBERTY Endovascular Robotic System.
The Michigan agreement represents an additional health network adopting the LIBERTY platform, building on the company’s recent announcement that it secured its first healthcare system customer in North Carolina. Together, these placements expand the product’s footprint across multiple regions of the United States.
In a June 9 statement, Microbot Medical said that developments across both new and existing sales territories point to heightened demand for advanced robotic options in peripheral endovascular procedures. The company added that major health systems are showing greater willingness to integrate robotic technology into routine vascular care.
The U.S. market for peripheral endovascular procedures is broadly estimated at roughly 2.5 million procedures per year, a figure the company referenced as part of the opportunity for robotic systems designed for these interventions.
Harel Gadot, Chairman, President & CEO, commented on the expansion: "We are excited to see the continued expansion of the LIBERTY System into new healthcare systems across the country. We believe the addition of another healthcare system customer, following our recent expansion into North Carolina, reflects the growing recognition that robotics can be delivered in a way that is practical, accessible and aligned with the needs of today’s healthcare environment."
Microbot Medical describes LIBERTY as the only FDA-cleared, single-use, remotely operated robotic system specifically for peripheral endovascular procedures. The company also noted recent regulatory clearance from the Israeli Ministry of Health’s AMAR Division, which permits marketing and sales of the LIBERTY System in Israel.
The announcement highlights incremental geographic adoption of the LIBERTY platform and the company's continued effort to place the system within major health networks. The Michigan deployment adds to the firm's regional diversification within the U.S. hospital market and follows its earlier placement in North Carolina.
Quick takeaways
- Microbot Medical confirmed its first LIBERTY System customer in Michigan, the initial adoption within the state and broader Midwest.
- The company has previously announced a healthcare system customer in North Carolina, indicating deployments in multiple U.S. regions.
- Microbot highlights a U.S. addressable market of about 2.5 million peripheral endovascular procedures annually and points to growing demand and readiness among health systems for robotic solutions.
Context on product and approvals
The LIBERTY System is presented by the company as the only FDA-cleared, single-use, remotely operated robotic solution for peripheral endovascular procedures. The system has also received clearance from the Israeli Ministry of Health’s AMAR Division for sale in Israel.
This report focuses on the facts released by the company regarding customer additions, regional expansion, market size estimates, and regulatory approvals.