- Associated Press - Wednesday, January 22, 2014

NEW YORK (AP) - Luna Innovations said Wednesday that it is selling shape-sensing technology used in medical applications to Intuitive Surgical, which makes a robotic surgical system.

Luna said Intuitive Surgical will make two upfront payments worth a total of $12 million. It could get another $18 million based on technical and commercial milestones. Intuitive Surgical will also hire some of Luna’s engineering employees. The Roanoke, Va., company said it wants to focus on its fiber optic sensing technology business.

Shares of Luna Innovations Inc. more than doubled in value, rising $1.50 to $2.82 in midday trading.

Intuitive Surgical Inc. is based in Sunnyvale, Calif. Its da Vinci system uses robotic arms, cameras and a remote-control console to help doctors perform surgery with tiny incisions. It is used in gynecological procedures, heart surgeries, prostatectomies, urology procedures, among other operations.

The company’s shares more than doubled, rising $1.44 to $2.76 in midday trading Wednesday.

Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times is switching its third-party commenting system from Disqus to Spot.IM. You will need to either create an account with Spot.im or if you wish to use your Disqus account look under the Conversation for the link "Have a Disqus Account?". Please read our Comment Policy before commenting.

 

Click to Read More

Click to Hide