- CMR Surgical is developing the next-generation surgical robotic system for minimal access surgery.
- CMR Surgical is a British medical technology company based in Impington, United Kingdom, founded in 2014 by Luke Hares, Mark Slack and Martin Frost.
- CMR Surgical’s aim is to make minimal access surgery available to all.
About CMR Surgical
With Versius they have delivered a next-generation tool to fit seamlessly into today’s operating rooms, working in harmony with the surgeon to improve patient outcomes and deliver value for healthcare providers.
The company plans to have its robots operating in more than six NHS hospitals over the next six months. It is a rival of the established Da Vinci Surgical System and claims to be more flexible and versatile, having independent modular arms which are “quick and easy to set up”.
In 2021 Macquarie University Hospital introduced the company’s Versius robotics arm for keyhole surgery, following approval from the Therapeutic Goods Administration. The 1,000 operation was performed by Professor Dr Raj Nagarkar, from HCG Manavata Cancer Centre, India in 2020. The biomimic arm was introduced at Western General Hospital and Milton Keynes University Hospital in 2020.
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CMR Surgical Funding
The company raised $100 million in June 2018, said to be Europe’s largest ever deal for a medical devices company, from investments by Cambridge Innovation Capital, the Zhejiang Silk Road Fund, Escala Capital Investments, LGT Group, and Watrium. This was hailed as the ‘Venture financing deal of the year’ at the Medtech Insight Awards. The Chinese investment was seen as particularly significant.
In June 2021, in the largest ever medtech private financing round all over the world, the company picked up $600 million (nearly £425 million) in Series D funding round, taking it to a valuation of $3 billion.
The investment round was led by SoftBank Vision Fund 2 and Ally Bridge Group. Also, the round involved other new international investors, including RPMI Railpen, Tencent and Chimera, broadening the geographic scope of the shareholder base. Existing investors, including LGT and its affiliate impact investing platform Lightrock, Watrium, Cambridge Innovation Capital, PFM Health Sciences and GE Healthcare, also participated in the round.
The funds will be used to support the mission of CMR Surgical to make keyhole surgery accessible to more people all over the world. It will be deployed to increase the global commercialisation of Versius and develop its digital ecosystem. The new funds also support the continued development of the system’s digital framework, including new technological developments such as Versius Connect, an app for surgeons using the Versius surgical robotic system.