INTUITIVE SURGICAL, INC. (NASDAQ:ISRG) Files An 8-K Other EventsItem 8.01.Other Events.
On December 7, 2017, Intuitive Surgical, Inc. (“Intuitive”) completed its previously announced accelerated share repurchase program (the “ASR Program”) to repurchase$2.0 billionof its common stock with Goldman, Sachs& Co. (“Goldman”).
On January 27, 2017, Intuitive made a payment of$2.0 billionto Goldman and Goldman delivered to Intuitive an initial delivery of approximately 2.4 million(or, after giving effect to the three-for-one stock split,approximately 7.3 million) shares of Intuitive’s common stock. Settlement was based on the daily volume-weighted average price per share of Intuitive’s common stock during the repurchase period, less a discount, and resulted in Intuitive being required either to deliver shares of common stock or to make a cash payment to Goldman. Intuitive made a final settlement payment of $274.0 million to Goldman on December 7, 2017.
After final settlement, the remaining amount of share repurchases authorized by Intuitive’s Board of Directors was approximately$717.5 million.
About INTUITIVE SURGICAL, INC. (NASDAQ:ISRG)
Intuitive Surgical, Inc. (Intuitive) designs, manufactures and markets da Vinci Surgical Systems, and related instruments and accessories. The Company’s da Vinci Surgical System consists of a surgeon’s console, a patient-side cart and a vision system. The da Vinci Surgical System translates a surgeon’s hand movements, which are performed on instrument controls at a console, into corresponding micro-movements of instruments positioned inside the patient through small incisions or ports. The da Vinci Surgical System provides its operating surgeons with control, range of motion, tissue manipulation solution and three-dimensional (3-D), high-definition vision. It allows surgeons to work through the small ports enabled by minimally invasive surgery procedures. Its da Vinci Surgery utilizes computational, robotic and imaging technologies. It focuses on five surgical specialties: gynecologic surgery, urologic surgery, general surgery, cardiothoracic surgery, and head and neck surgery.