London, United Kingdom (PressExposure) December 28, 2009 -- On 12th September 2008, Power Medical Interventions, Inc., a company engaged in the development of computer-assisted, power-actuated surgical stapling products, entered into an agreement with Intuitive Surgical, Inc., a company engaged in providing technology and procedural innovation for cardiac, urology, gynecologic, pediatric and general surgical disciplines.
Under this agreement, both the companies will jointly develop a surgical stapling device which will attach to Intuitive Surgicalâs da Vinci Surgical Systems and will utilize Power Medical's patented stapling technology. Based upon the agreement, Power Medical will receive an upfront license payment as well as additional payments based upon the achievement of agreed upon milestones.
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