CMR Surgical

CMR Surgical is a British medical device company based in Cambridge. It produces a robot-assisted surgery system called Versius. The company achieved Unicorn status in 2019 being valued at more than $1 billion.[1]

CMR Surgical Ltd

Industry	Medical devices & equipment
Founded	2014
Founder	Luke Hares, Mark Slack, Martin Frost
Headquarters	Cambridge, United Kingdom
Products	Surgical robot
Number of employees	650 approx
Website	https://cmrsurgical.com

With headquarters at Evolution Business Park, Cambridge and a global manufacturing hub in Ely, Cambridgeshire, the business also has a presence throughout Europe, Latin America, AMEA and Australia. Previously called Cambridge Medical Robotics, it changed name in March 2018.[2]

The Versius Surgical Robotic System 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". Some key patents for the da Vinci system have recently expired.[3]

In the United Kingdom, Versius is being used at Guy’s and St Thomas' (London),[4] Royal Papworth (Cambridge),[5] Milton Keynes University Hospital, Western General Hospital (Edinburgh),[6] Gloucestershire Royal,[7] Manchester Royal Infirmary,[8] Lister Hospital (Stevenage),[9] West Hertfordshire Teaching Hospitals,[10] The University Hospital of Wales (Cardiff), Ysbyty Gwynedd (Bangor),[11] East Surrey Hospital,[12] Great Western Hospital (Swindon),[13] and Frimley Health (Surrey/Berkshire).[14]

In Australia in 2021, Macquarie University Hospital introduced the company's Versius robotics arm for keyhole surgery, following approval from the Therapeutic Goods Administration.[15]

In India, the 1,000th operation was performed by Professor Dr Raj Nagarkar, from HCG Manavata Cancer Centre, India in 2020. He said, “We are seeing clear patient benefits including reduced pain, and length of stay. Additionally, the open console means I can operate comfortably, helping to reduce physical tiredness from surgery. As far as the patient is concerned, obviously there is less pain, less bleeding and less risk of infection. I feel we need to elaborate on the advantages to the surgeon. Without being glued to the console, I could comfortably relax in a chair and operate. I have done six robotic-assisted procedures in one single day, without getting tired, myself.”

In 2021 CMR Surgical raised $600m at a $3bn valuation during a series D financing round. Escala Capital was its biggest investor followed by SoftBank Vision Fund 2 after the financing round. Notable other investors are GE Healthcare and ABB Technology Ventures. CMR Surgical said the funding was the world’s largest private financing round in the medtech sector, citing PitchBook data.[16]

In 2022, the Versius robotic system was adopted for urological procedures in Pakistan[17] and was also indicated for clinical use in thoracic. A successful trial in transthoracic esophagectomy was reported in Nature in October 2022.[18]

In April 2023, it was announced that approximately 350 staff were being made redundant.[19]

Also in April 2023 CMR Surgical has been honoured in the first ever King’s Award for Enterprise within the innovation category for the Versius Surgical Robotic System.[20]

In September 2023, CMR raised $165 million (£133m) as it prepared for the launch of its Versius soft tissue system into additional markets.[lower-alpha 1].[21]