Intuitive Surgical

In 1995 John Freund negotiated a technology license from SRI International, and that November Frederic Moll, Freund and others incorporated Intuitive Surgical Devices, Inc. Engineer Robert Younge worked on refining the SRI system into a viable piece of medical equipment. Two years later the company adopted its current name.⁠[1]

The company received Danish government permission to affix the CE mark to its da Vinci Surgical System and EndoWrist instruments for general surgical use.⁠[2]

The company’s common stock began trading on Nasdaq under the symbol ISRG on June 13, 2000, in an initial public offering of $51.8 million. In July 2000 da Vinci received FDA marketing clearance for laparoscopic procedures such as cholecystectomy.⁠[2]

On March 7, 2003, Intuitive Surgical entered into a merger agreement with Computer Motion, under which Computer Motion shareholders would receive Intuitive Surgical common stock at an exchange ratio.⁠[3]

Stockholders of both companies approved the deal on June 30, 2003, and the merger closed that day, eliminating costly patent disputes between them. Computer Motion’s products included the ZEUS Surgical System and the AESOP Robotic Endoscope Positioner. Intuitive Surgical then carried out a 1-for-2 reverse stock split; Lonnie Smith was its president and CEO.⁠[4]

On May 22, 2008, Standard & Poor’s announced that S&P MidCap 400 constituent Intuitive Surgical would replace The Bear Stearns Companies Inc. in the S&P 500S&P 500The S&P 500 is a U.S. large-cap equity index compiled by S&P Dow Jones Indices. It includes 500 leading companies, covers about 80% of available market capitalization and is described by S&P DJI as “widely regarded as the best single gauge of large-cap U.S. equities.”Open the full entry after the close of trading on May 30.⁠[5]

On October 23, 2009, the company announced that Gary Guthart would become CEO on January 1, 2010, and that Lonnie Smith, then chairman and CEO, would continue as chairman of the board.⁠[6]

The FDA cleared the Ion endoluminal system for minimally invasive biopsy in the peripheral lung; it uses an ultra-thin, articulating robotic catheter with an outer diameter of 3.5 mm. CEO Gary Guthart said, “Early lung cancer diagnosis can save lives.”⁠[7]

In 2021 Surgical Instrument Service Company (SIS), an Illinois-based instrument repair firm, sued Intuitive Surgical, alleging that it violated Sections 1 and 2 of the Sherman Act by tying the sale and service of da Vinci systems to hospitals’ purchase of its EndoWrist instruments. SIS claimed $140 million in damages, or $420 million after trebling.⁠[8]

In January 2025, federal judge Araceli Martínez-Olguín in Northern California ruled for Intuitive Surgical, finding that SIS had not proven an aftermarket for EndoWrist repairs and replacements.⁠[9]

The company announced FDA 510(k) clearance for da Vinci 5, its fifth-generation multiport robotic system. The system offers force feedback, which in preclinical trials showed up to 43 percent less force exerted on tissue, and more than 10,000 times the computing power of da Vinci Xi; it was initially made available to a small number of U.S. customers.⁠[10]

On May 15, 2025, the company announced that Dave Rosa, president since 2023, would be promoted to chief executive officer effective July 1, 2025, and that Gary Guthart, CEO for the previous 15 years, would become executive chair of the board. Rosa first joined the company as its ninth employee in March 1996.⁠[11]

In 2025 da Vinci procedures grew about 18% and Ion procedures about 51%; the company placed 1,721 da Vinci surgical systems, including 870 da Vinci 5 systems, and 195 Ion endoluminal systems.⁠[12]

Revenue for 2025 was $10,064.7 million (2024: $8,352.1 million), and GAAP net income attributable to Intuitive Surgical, Inc. was $2,856.0 million (2024: $2,322.6 million). As of December 31, 2025, the da Vinci installed base was 11,106 systems and the Ion installed base 995 systems.⁠[13]

As of December 31, 2025, the company had approximately 17,021 full-time employees; it manufactures a significant majority of its instruments and accessories in Mexico.⁠[14]

The company acquired distribution businesses covering Italy, Spain, Portugal and nearby territories from ab medica, Abex, Excelencia Robótica and affiliates for about $533.1 million in cash, taking over direct distribution.⁠[15]

The company holds a controlling financial interest in its joint venture with Shanghai Fosun Pharmaceutical (Group) Co., Ltd.⁠[15]

Third-quarter 2026 revenue rose 22% to $3.05 billion and procedures grew about 15%; the da Vinci installed base reached 12,094 systems as of September 30. The company agreed to settle a da Vinci antitrust class action for a one-time payment of $450 million, subject to court approval.⁠[16]