Restoration Robotics and Neograft to Merge?
This is something I wasn't expecting but I'm not surprised. It looks like the original Neograft FUE machine, and the company behind it, was acquired by a company called Venus Concept LTD, which is a Canadian based company. They make and design medical aesthetics products and added the Neograft to their portfolio. Now it appears that they're "merging" with Restoration Robotics, the company behind the famous ARTAS robot, the first robot in the world that performed hair restoration surgery.
My guess about this is that Venus Concept LTD is on a buying spree to expand further into the hair restoration market, as anyone with the right capital could strategically embed themselves deeper into the industry through acquisitions. Restoration Robotics seemed to be in a prime position for such a move since their stock never was performing that well, and of late worse than usual. Several times in trading the stock of Restoration Robotics slipped below a dollar per share but with their patent library and extensive engineering expertise, it is somewhat surprising someone hasn't merged with Restoration Robotics sooner.
Overall this appears to be a solid move for Venus Concepts LTD. My question however is what happens to the ARTAS brand? It makes sense for it to continue but will Restoration Robotics continue as a name? I'm betting that from here on out it will disappear and the robot will be called the Venus Concepts ARTAS. I could be wrong, but time will tell. This also brings potential for new clinics to possibly be in a better position to afford the robot if they so choose as I imagine that Venus will offer new and more liberal financing options for buyers of the ARTAS.
The short term future will unveil what they have planned but I wanted to update my readers about this new development.