CNBC Report

Quote
Fake cases are recorded with a wink from management, then the numbers are reported to investors each quarter.

The SEC should have an interest in the accuracy of all the data, not just revenue.
 






Anonymous said:
Fake cases are recorded with a wink from management, then the numbers are reported to investors each quarter.

The SEC should have an interest in the accuracy of all the data, not just revenue.
Click to expand...

They can make a $1.5mm machine that has the processing power of 10 iPhones, but can't add a feature that requires hospital staff to enter "surgeon name" and "type of procedure".
 






Anonymous said:
Fake cases are recorded with a wink from management, then the numbers are reported to investors each quarter.

The SEC should have an interest in the accuracy of all the data, not just revenue.
Click to expand...

Fake cases have no effect on Wall Street. Why would Wall Street care about that? If anything it hurts them, b/c it means ISI is paying more money out to their reps. All Wall Street cares about is profits (robot sales, I&A, etc). The company doesn't profit off fake cases.
 












Anonymous said:
Fake cases have no effect on Wall Street. Why would Wall Street care about that? If anything it hurts them, b/c it means ISI is paying more money out to their reps. All Wall Street cares about is profits (robot sales, I&A, etc). The company doesn't profit off fake cases.
Click to expand...

You don't think logging phantom cases has an effect on inflated revenue numbers and outlooks? Uh....ok.
 






Anonymous said:
You don't think logging phantom cases has an effect on inflated revenue numbers and outlooks? Uh....ok.
Click to expand...

Just read this post...I am not sure how phantom cases would effect revenue...if the case is phantom, there are no disposables used, no revenue generated...I do see how it could effect projections and forecasts though.
 






Anonymous said:
Just read this post...I am not sure how phantom cases would effect revenue...if the case is phantom, there are no disposables used, no revenue generated...I do see how it could effect projections and forecasts though.
Click to expand...


Cases reflect adoption and it is 1 of the many important data points an investor will consider. It is a minor point, but cases do impact stock valuation.

Since ISRG knows case numbers are false and these numbers impact valuation, wouldn't this be a case of misleading investors?
 






I am convinced that they were aware of inflated case numbers that inturn had a positive affect on the earnings reports and stock valuation. In fact, before I left I was summoned into an attorneys office to provide information on cases and how inaccurate the numbers are, phantom cases or no phantom cases. In addition to that I knew something was up when about 7 months ago all the execs. (LS, JM, MM, JA and a few )others were dumping the stock for the reported amounts we now see in the law suits. That's why I got the heck out of that place. It had Enron written all over it. I just might give one of those firms a call and share my stories!
 












How did Daniels not know the patient size? Every CSR is in the room for port placement during every surgeons initial cases. If they are not helping with port placement, most CSR are tracking the surgeons time for port placement, docking and the procedure. Did someone lie under oath???

"Daniels, who another witness said was in the operating suite during Taylor’s prostatectomy, testified that he often accompanied surgeons using the robotic system for the first time, assisting with the console set-up, the positioning of the specialized operating table and also answering questions."


"Under cross examination, Daniels said he only saw surgical patients after they were “draped,” or laying on the table after being prepared for surgery. He told defense attorney Jeffrey Johnson he was unable to see or know a patient’s body size."
 




































Intuitive Surgical Flags ‘Potential Issue’ With Robot

Intuitive Surgical, maker of the da Vinci surgical robot, has issued an "urgent medical device notification" alerting hospitals that it has "identified a potential issue" with one of the robot's instruments that can cause internal burns.

To Read the full urgent notification, click here.

According to the notification, obtained by CNBC, "micro-cracks" in some models of Intuitive's monopolar curved scissors can cause leaks that "may create a pathway for electrosurgical energy to leak to tissue during use and potentially cause thermal injury." The notification added, in bold type: "These micro-cracks may not be visible to the user."

The company issued a statement Friday confirming the notification.

"To date, in over a million surgeries with these instruments, the company has no confirmed evidence of patient injury attributable to this issue," the company said in the statement.

As part of the notification, the company included a list of six Precautions and Warnings for Usage of the EndoWrist Monopolar Curved Scissors.

The safety of the da Vinci, including an increase in reports of injury involving robotic surgery, was the focus of the recent CNBC Investigations Inc. documentary, the Da Vinci Debate, and an article on CNBC.com.

—By CNBC's Herb Greenberg. Follow him on Twitter:mad:herbgreenberg and Google

Subscribe to Herb at http://www.facebook.com/herb.greenberg

Questions? Comments? Write to HerbOnTheStreet@cnbc.com
 


















Those 2 are directly responsible for the toxic culture at this place. I have said it before, I will say it again. Great technology, great people I worked with (CSR's on my team) but it stops there. They surround themselves with a bunch of maladjusted minions.
 












Top Bottom
Back
Quote