PROCEPT BioRobotics Corporation (PRCT): Business Model Canvas

Key Partnerships

Collaboration with healthcare providers: Procept BioRobotics Corporation (PRCT) partners with healthcare providers such as hospitals and clinics to integrate their groundbreaking robotic surgical systems into existing healthcare infrastructure. These partnerships allow PRCT to reach a wider patient population and provide cutting-edge healthcare solutions.

Strategic alliances with medical device distributors: PRCT forms strategic alliances with medical device distributors to expand their reach and distribution channels. By partnering with distributors who have established relationships with healthcare facilities, PRCT can ensure their products are widely available to healthcare providers.

Research partnerships with academic institutions: PRCT collaborates with academic institutions to advance research and development in the field of robotic surgery. These partnerships not only help PRCT stay at the forefront of technological advancements but also provide valuable insights into the needs and preferences of healthcare professionals and patients.

• Enhance product development capabilities through research collaborations
• Access to top researchers and experts in the field
• Foster innovation and exchange of ideas

Key Activities

Research and development in robotic systems for medical use: PROCEPT BioRobotics Corporation (PRCT) places a strong emphasis on continuous research and development to stay at the forefront of robotic technology in the medical field. Our team of engineers and scientists are dedicated to developing innovative robotic systems that can revolutionize the way medical procedures are performed.

Manufacturing of the AquaBeam Robotic System: The AquaBeam Robotic System is one of our flagship products that offers a minimally invasive treatment option for patients with benign prostatic hyperplasia (BPH). We have a state-of-the-art manufacturing facility where we produce these systems with the highest quality standards to ensure the safety and efficacy of our products.

Marketing and sales activities: In order to reach our target market and generate sales, we have a dedicated marketing and sales team that works tirelessly to promote the AquaBeam Robotic System. From attending medical conferences to partnering with healthcare providers, our team is focused on increasing awareness about our product and driving sales opportunities.

• Conducting market research to identify potential customers
• Developing marketing materials to showcase the benefits of the AquaBeam Robotic System
• Establishing partnerships with key opinion leaders in the medical field
• Training and supporting healthcare providers on the use of our robotic system

Key Resources

PROCEPT BioRobotics Corporation (PRCT) leverages a variety of key resources to drive innovation in robotic surgery. These resources include:

• Advanced technology in robotics and waterjet technology: PRCT invests heavily in cutting-edge technology to develop state-of-the-art robotic surgery systems. The company's expertise in robotics and waterjet technology enables them to create precise and minimally invasive surgical solutions for patients.
• Skilled engineers and medical professionals: PRCT's team of engineers and medical professionals are at the forefront of innovation in the field of robotic surgery. Their expertise and dedication play a crucial role in developing and implementing the latest advancements in surgical technology.
• Intellectual property related to robotic surgery: PRCT holds a significant amount of intellectual property related to robotic surgery, including patents, trademarks, and trade secrets. This intellectual property gives the company a competitive edge in the market and allows them to protect their valuable innovations.

Value Propositions

PROCEPT BioRobotics Corporation (PRCT) offers a range of value propositions that set it apart from traditional treatment options for Benign Prostatic Hyperplasia (BPH). These include:

• Minimally Invasive Surgical Options: PRCT's AquaBeam Robotic System provides minimally invasive surgical options for BPH treatment, reducing the need for open surgery and leading to improved patient outcomes.
• Reduced Recovery Time and Hospital Stay: By utilizing robotic assistance, PRCT's procedures have been shown to reduce recovery time and hospital stay for patients undergoing BPH treatment. This not only benefits patients but also results in cost savings for healthcare providers.
• Precise and Repeatable Outcomes: The AquaBeam Robotic System ensures precise and repeatable outcomes for patients, leading to better long-term results and reduced complications. This level of precision is unparalleled in traditional surgical approaches.

Overall, PRCT's value propositions focus on improving patient outcomes, reducing healthcare costs, and providing innovative solutions for BPH treatment. By leveraging cutting-edge technology and a patient-centered approach, PRCT is revolutionizing the field of urology and shaping the future of surgical care for BPH.

Customer Relationships

PROCEPT BioRobotics Corporation (PRCT) understands the importance of establishing and maintaining strong relationships with our customers in the medical field. We strive to provide exceptional support and training to surgeons and medical staff who utilize our innovative robotic systems in their practices.

Our customer relationships are built on trust, reliability, and efficiency. We offer comprehensive training programs to ensure that surgeons and medical staff are comfortable and proficient in using our robotic systems. This training is essential in ensuring successful outcomes for patients undergoing procedures using our technology.

In addition to training, we provide ongoing customer service for maintenance and updates of our robotic systems. Our team of experts is dedicated to assisting our customers with any technical issues that may arise, ensuring that their systems are operating at peak performance.

At PRCT, we believe in fostering strong relationships with our customers through regular engagements at medical conferences and workshops. These events not only provide opportunities for networking and collaboration but also allow us to gather feedback and insights from our customers to continuously improve our products and services.

• Provides training and support to surgeons and medical staff
• Customer service for maintenance and updates of systems
• Engagements through medical conferences and workshops

Channels

PROCEPT BioRobotics Corporation utilizes various channels to reach its target market and distribute its products effectively. The company employs the following channels:

• Direct sales force: PRCT has a dedicated team of sales professionals who directly engage with healthcare providers and institutions to promote and sell its products. This approach allows the company to establish strong relationships with customers and provide personalized support.
• Distribution partnerships in key international markets: To expand its global reach, PRCT has formed strategic partnerships with established distributors in key international markets. These partnerships help the company navigate regulatory requirements, market dynamics, and cultural nuances in different regions.
• Online platforms for product information and support: PRCT leverages digital channels such as its website, social media platforms, and online resources to provide product information, training materials, and customer support. These online platforms enable healthcare professionals to access information about PRCT's products conveniently and stay updated on the latest developments.

Customer Segments

The primary customer segments for PROCEPT BioRobotics Corporation (PRCT) can be categorized into three main groups:

• PRCT’s innovative AquaBeam® Robotic System is targeted towards hospitals and surgical centers looking to offer state-of-the-art treatment options for patients suffering from BPH.
• These facilities are interested in investing in cutting-edge technology that can improve patient outcomes and streamline surgical procedures.

• Urologists are a key customer segment for PRCT as they are the ones who will be utilizing the AquaBeam® Robotic System to perform minimally invasive surgeries for BPH patients.
• These medical professionals are looking for advanced tools and technologies that can enhance their surgical capabilities and improve patient results.

• Ultimately, the end users of PRCT’s technology are patients suffering from BPH who are seeking effective treatment options.
• These individuals are looking for minimally invasive procedures that can alleviate their symptoms and improve their quality of life.

By identifying and understanding the unique needs and preferences of each customer segment, PRCT can tailor its marketing strategies and product developments to better serve the diverse range of stakeholders involved in the treatment of BPH.

Value Proposition

PRCT’s value proposition lies in its cutting-edge AquaBeam® Robotic System, which offers several key benefits to its customers:

• Minimally invasive treatment option for BPH patients
• Precision and control during surgical procedures
• Reduced risk of complications and side effects
• Shorter recovery times for patients
• Enhanced surgical capabilities for urologists

By delivering these value propositions, PRCT aims to revolutionize the way BPH is treated and improve outcomes for patients and healthcare providers alike.

Cost Structure

The cost structure of PROCEPT BioRobotics Corporation (PRCT) is centered around several key areas that are crucial for the success of the business. These costs include high investment in research and development, expenses related to manufacturing robotic systems, and costs associated with marketing and global distribution.

High investment in research and development: PRCT invests a significant amount of resources into research and development to innovate and improve their robotic systems. This includes funding for a team of engineers and scientists who work tirelessly to create cutting-edge technology that meets the needs of their customers.

Costs associated with manufacturing robotic systems: Another significant cost for PRCT is the production of their robotic systems. This includes expenses related to sourcing materials, assembling the robots, and quality control measures to ensure that each product meets the highest standards of performance and reliability.

Expenses related to marketing and global distribution: PRCT also incurs costs related to marketing their products and distributing them globally. This includes advertising campaigns, attending trade shows, and establishing partnerships with distributors in different countries to increase their market reach.

Overall, the cost structure of PRCT is designed to support their mission of developing and commercializing innovative robotic technology that improves patient outcomes and transforms the field of minimally invasive surgery.

Revenue Streams

Sales of AquaBeam Robotic Systems: PRCT generates revenue through the sales of its AquaBeam Robotic Systems. These systems are state-of-the-art robotic devices used in minimally invasive surgical procedures, providing precise and controlled waterjet ablation therapy. The sales of these systems are a significant source of revenue for the company.

Service agreements and maintenance contracts: In addition to selling the AquaBeam Robotic Systems, PRCT also offers service agreements and maintenance contracts to its customers. These agreements provide customers with ongoing support and maintenance for their robotic systems, ensuring optimal performance and longevity. These contracts generate recurring revenue for the company.

Licensing fees from technology patents: PRCT holds several technology patents related to its AquaBeam Robotic Systems. The company generates revenue by licensing out these patents to other companies in the medical device industry. These licensing fees contribute to the overall revenue stream of the company.