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Date Announced: 29 Oct 2024
AI-based therapy for benign prostate hyperplasia uses robotic surgery and endoscopic imaging.
GARDNER, Mass., Oct. 29, 2024 (GLOBE NEWSWIRE) -- Precision Optics Corporation, Inc. (NASDAQ: POCI) (“POC”), a leading designer and manufacturer of advanced optical instruments for the medical and defense industries, today announced that its customer, a surgical robotics company focused on transformative solutions in urology, recently announced FDA 510(k) clearance of its next-generation AI-powered platform for treatment of Benign Prostate Hyperplasia. Precision Optics designed and currently manufactures the single-use endoscope imaging assembly used within the new system.
“We are excited by the news and congratulate our customer’s entire team on receiving FDA 510(k) clearance for their revolutionary robotic surgery system,” stated Dr. Joe Forkey, CEO of Precision Optics. “We are proud to have partnered with our customer in the development of the single-use imaging assembly for this system, which required the use of our unique micro-optics and digital imaging technologies to meet the challenging technical requirements within the critical reimbursement constraints for single-use medical devices. We are grateful for the strong partnership between our technical and production teams which led to our customer reaching the commercialization stage on an accelerated timetable. We are pleased to have already completed deliveries for clinical use.”
“Like our customer, POC is optimistic the market for treatment of Benign Prostate Hyperplasia, which is already a large market, will continue robust growth. Our customer has been very successful already in addressing this market with their AI-drive robotic platform, and we expect over the long-term our business may grow several fold as their success continues.”
POC recently began production deliveries of the endoscope imaging assembly against a $9 million order announced by POC on May 9, 2024. POC currently estimates approximately $3.6 million in product deliveries during its fiscal year ended June 2025. POC anticipates significant long-term growth for this single-use endoscope imaging assembly, as POC’s customer continues to deploy its new robotic system into the market in which it already has a dominant position with its existing system.
Source: Precision Optics Corporation
E-mail: sales@poci.com
Web Site: www.poci.com/
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