Intuitive Surgical falls as Obamacare concerns rekindle medtech demand debate
ISRG•Coverage changes affect care timing
Intuitive expects 2026 worldwide da Vinci-assisted procedure growth to come near the midpoint of its forecast of 13.5% to 15.5%.
Da-Vinci systems are used in a broad range of procedures, including weight-loss surgeries and treatments for digestive, urologic and cardiac conditions.
Second-quarter da-Vinci procedure growth in the U.S. was 12%, moderated from Intuitive's expectations at the start of the year, predominantly in surgeries that can be deferred, it said.
"In our customer conversations, some have said changes in patient coverage and premium dynamics may be affecting when patients seek care and move forward with treatment," CEO David Rosa said on a call on Thursday.
The expiration of enhanced ACA premium subsidies, according to Intuitive, had a "modest adverse impact" on second-quarter U.S. da-Vinci procedure growth.
"Procedures drive the whole revenue build downstream, so a key piece of the story is figuring out how much of an impact the ACA subsidy expirations have had — management isn't yet able to yet quantify it, but our sense is that it's a small percentage impact," said J.P.Morgan analyst Robbie Marcus.
