FORT LAUDERDALE, Fla., May 6, 2009 (GlobeNewswire via COMTEX News Network) — MAKO Surgical Corp. (Nasdaq:MAKO), a medical device company that markets both its robotic arm interactive orthopedic surgical platform and proprietary RESTORIS(r) implants for minimally invasive orthopedic knee procedures known as MAKOplasty(r), today announced its operating results for the quarter ended March 31, 2009.
Recent Business Highlights
Product Milestones – At the end of the first quarter, MAKO achieved full commercial release of its RIO(tm) Robotic Arm Interactive Orthopedic system (version 2.0 of the Tactile Guidance System(tm) and limited release of its RESTORIS(r) MCK MultiCompartmental Knee implant system, which together enable MAKOplasty surgeons to perform bicompartmental knee procedures.
RIO System Upgrades – Following the commercial release of the RIO system, MAKO upgraded four of its existing seventeen MAKOplasty sites from TGS units to RIO systems and recognized the associated previously deferred revenue in the quarter. MAKO anticipates upgrading the remaining thirteen MAKOplasty sites and recognizing the associated previously deferred revenue by the end of the third quarter of 2009.
RIO System Sales – Three RIO systems were installed and customer accepted at commercial sites during the first quarter, including the second conversion of a non-commercial site. These new sites brought the total number of MAKO’s commercial MAKOplasty sites to 20 as of March 31, 2009.
MAKOplasty Procedure Volume – During the first quarter, 265 MAKOplasty procedures were performed, representing a 33% increase over the fourth quarter of 2008 and a 160% increase over the first quarter of 2008. A total of 1,047 MAKOplasty procedures have been performed since the first procedure in June 2006.