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Providence Advances Surgical Robotics Program with National Multi-System Contract for PROCEPT BioRobotics AquaBeam Systems

REDWOOD CITY, Calif., Sept. 19, 2022 (GLOBE NEWSWIRE) — PROCEPT® BioRobotics Corporation (Nasdaq: PRCT), a surgical robotics company focused on improving patient care by developing transformative solutions in urology, and Providence, a nonprofit healthcare system serving the western United States, today announced a national multi-system contract to acquire AquaBeam Robotic Systems. As of June 30, 2022, Providence had seven AquaBeam robotic systems installed in California and Texas.

“For men with benign prostatic hyperplasia, the safety and efficacy profile of aquablation therapy provides long-term symptom relief, leading to significant improvements in quality of life,” said Richard Shapiro, MD, FACS, a staff member at Providence Cedars-Sinai Tarzana Medical Center and one of the first Providence urologists to perform the new procedure. “This option appeals to men looking for a long-lasting solution with minimal risk of irreversible complications.”

“PROCEPT is honored to partner with leading healthcare systems, such as Providence, who are committed to advancing patient care through next-generation innovations and we look forward to supporting their growing programs. in the western United States,” said Sham Shiblaq, executive vice president. , Commercial Director of PROCEPT. “As we continue to expand our global commercial footprint, our dedicated team remains focused on accelerating the adoption of Aquablation therapy and bringing this much-needed treatment option to all patients.”

Aquablation therapy combines real-time multi-dimensional imaging, automated robotics, and heatless waterjet ablation for targeted, controlled, and immediate removal of prostate tissue. By combining both cystoscopic visualization and ultrasound imaging, surgeons can create a personalized treatment plan tailored to each patient’s anatomy. Once the personalized treatment map is completed, the robot-controlled heatless water jet proceeds to ablate prostate tissue, bypassing critical structures to preserve sexual function and continence.1,2,3

For more information about Providence, visit www.providence.org

For more information on Aquablation Therapy, visit www.aquablation.com

About Providence
Providence is a national, not-for-profit Catholic health care system comprised of a diverse family of organizations and driven by the belief that health is a human right. With 52 hospitals, more than 900 medical clinics, senior services, supportive housing and many other health and education services, the health system and its partners employ nearly 120,000 caregivers serving communities in seven States – Alaska, California, Montana, New Mexico, Oregon, Texas, and Washington, with system offices in Renton, Washington, and Irvine, CA.

About PROCEPT BioRobotics Corporation
PROCEPT BioRobotics is a surgical robotics company focused on improving patient care by developing transformative solutions in urology. PROCEPT develops, manufactures and sells the AquaBeam robotic system, an advanced, image-guided surgical robotic system for use in minimally invasive urological surgery with an initial focus on the treatment of benign prostatic hyperplasia, or BPH. BPH is the most common prostate disease and affects approximately 40 million men in the United States. PROCEPT designed aquablation therapy to provide effective, safe, and long-lasting results for men with lower urinary tract symptoms, or LUTS, due to BPH that are independent of prostate size and shape or surgeon’s experience. PROCEPT has developed a large and growing body of clinical evidence, which includes nine clinical studies and over 100 peer-reviewed publications, supporting the benefits and clinical benefits of Aquablation Therapy.

Forward-looking statements
This release contains forward-looking statements within the meaning of the federal securities laws, including with respect to the company’s projected financial performance for the full year 2022, statements regarding potential utilities, values, advantages and benefits of Aquablation® therapy performed using PROCEPT BioRobotics products, including AquaBeam® Robotic System, which involve risks and uncertainties that could cause actual results to differ materially from anticipated results and the expectations expressed in such forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements are only predictions based on our current expectations, estimates and assumptions, speak only as of the date they are made, and are subject to risks and uncertainties, of which we are not currently aware. Forward-looking statements may include statements regarding the company’s financial directions, opportunities and market penetration, possible or expected future operating results, including descriptions of revenues, gross margin, profitability, operating expenses, installed base growth, business momentum, reimbursement coverage, overall business strategy, and other global events about the company and its operations. Forward-looking statements should not be construed as a guarantee of future performance or results and are not necessarily precise indications of the times at which or by which such performance or results will be achieved. These forward-looking statements are based on the Company’s current expectations and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements due to these risks and uncertainties. These risks and uncertainties are described in more detail in the section entitled “Risk Factors” in the Company’s filings with the Securities and Exchange Commission (the “SEC”), including the Company’s annual report on From 10 -K filed with the SEC on March 22, 2022, and in the Company’s other periodic reports filed with the SEC. PROCEPT BioRobotics undertakes no obligation to update any forward-looking statements and expressly disclaims any obligation or undertaking to publicly release any updates or revisions to the forward-looking statements contained herein. These forward-looking statements should not be taken to represent the views of PROCEPT BioRobotics as of any date subsequent to the date of this press release.

Important Safety Information

All surgical treatments have inherent and associated side effects. For a list of potential side effects, visit https://aquablation.com/safety-information/

Investor contacts:
Matt Basso, CFA
Vice President, Investor Relations and Commercial Operations
[email protected]