Mako Surgical Class Action Lawsuit Filed Over Rio Robotic Surgery System
A class action lawsuit has been filed on behalf of investors who bought shares of MAKO Surgical Corporation stock, which have plummeted due to poor sales of its Rio orthopedic surgical robot.
The MAKO investor class action lawsuit (PDF) was filed in the U.S. District Court for the Southern District of Florida on May 18. The complaint was brought on behalf investor Brian Parker and anyone else who invested in the company between January 9 and May 7, 2012.
According to the shareholder lawsuit, the company mislead investors about the potential of the Rio surgical robot and how well it would sell this year.
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Learn MoreLast month, the value of MAKO stock fell 36%, from $26,45 per share to $14.95, after the company announced that sales of the Rio were far below expectations. MAKO had hoped to sell up to 62 of the orthopedic surgery robots in 2012, but sold only six in the first quarter. Overall, the stock has fallen more than 40% from its class period high.
The lawsuit alleges that MAKO knew sales for the robotic surgery machine would be poor, knew that utilization rates for the Rio robots already in service were declining, and that the company’s 2012 outlook lacked a reasonable basis when made. That information was not passed on to investors, resulting in an artificially inflated stock value, according to the complaint.
The Rio robot is an orthopedic surgery robotic arm used in knee, hip and other leg surgeries. The hip application was only recently released and has had underperforming sales.
There have been a total of 119 Rio robots sold worldwide, with the vast majority sold in the United States. However, doctors have not appeared eager to use the robot. According to the lawsuit, the first quarter only saw 2,219 robotic surgeries with the Rio, known as MAKOplasty, performed in the United States. Only 211 were hip procedures using the robots new Total Hip Arthroplasty program.
The sales are in sharp contrast to another controversial robotic surgery machine, the da Vinci Surgical System, sold by Intuitive Surgical. That surgery robot has been widely adopted by hospitals throughout the United States in a variety of surgical fields, including cardiothoracic, gynecology, urology and general surgery.
In recent months, concerns have surfaced about the risk of complications from da Vinci robotic surgery. Critics have suggested that the machines have been adopted too quickly, resulting in doctors performing the robotic surgery before they have been properly trained to operate the complex system.
In addition, a number of da Vinci robotic surgery lawsuits have been filed against Intuitive Surgical, alleging that the manufacturer failed to adequately warn about the risk of problems following surgery and that the device was defectively designed. Complaints indicate that the electrical current used by the da Vinci robot to cut, burn and cauterize tissue may pass outside of the operative field, causing damage to surrounding organs, vessels and tissue.
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13 Comments
GeriJune 2, 2022 at 6:25 pm
I had mako hip replacement surgery in Feb 2022 and my hip came out of the socket 3 times. Is their any kind of class action suit going on? Please advise.
MarkMay 24, 2022 at 4:57 pm
Had surgery on November 2021 and has been in pain since. I was Don by the Mako robotic.
MichaelApril 5, 2022 at 3:24 pm
LTK replacement Feb 3 2022 Return to work Mar 3 2022 40 minutes into work day left femur closed compound fracture. Fracture was involved with pinning holes of the external fixation device for robot mounting.
BrianJuly 15, 2019 at 1:17 am
My MAKO revision of my MAKO replacement left my affected foot at a right angle to my body - I curse the MAKO system and my surgeon EVERYDAY!
NanciJune 10, 2019 at 7:01 pm
Had Mako on right knee in June 2017 and after a month start extreme pain could not bend knee. Dr. told me to give it time and I noticed puss coming out of the incision. Went through x-rays and he said oh everything was fine. Went to another Doctor and had a total knew replacement he said the implant was disintegrating. Did any one have a law suit against the manufacture.
MariaJuly 30, 2018 at 2:34 pm
August 20, 2018 makes 3 years that I had right total kneereplacement.. And I get a half a bend...2 months after I had it done..The doctor even rebended for me.... I still get a half a bend
BillMay 26, 2018 at 4:53 am
Had Mako on right knee July 2017 first month was great after that I stared getting pain bitting pinching pain. Dr told me to give it time, he knew months ago but mad me go through test and scans when a basic x-ray was all needed to show the separation. Recent x-ray shows femur implant has come loose. Just now seeing complaints about the Mako and investor class action against Stryker. I'm hoping m[Show More]Had Mako on right knee July 2017 first month was great after that I stared getting pain bitting pinching pain. Dr told me to give it time, he knew months ago but mad me go through test and scans when a basic x-ray was all needed to show the separation. Recent x-ray shows femur implant has come loose. Just now seeing complaints about the Mako and investor class action against Stryker. I'm hoping mad and would like to know if there has been any legal action for failing implants.
TeresaDecember 12, 2017 at 10:06 pm
Had surgery 10/15. Have been in pain since. Got two opinions both say only thing to do is have total knee replacement. Hesitant because of all the pain I endured after the makoplasty. One Dr. Told me WHY would they do that procedure, it was proven 5 years before my surgery not to work.
JackieOctober 8, 2017 at 8:52 pm
Botched mako here. Surgery RUINED my leg and life. Unbearable pain (as stated above) is an understatement. 2.5 years later had a TKR to correct. Operative report indicates surgeon "bumped" the robot out of alignment during surgery. 2nd opinion and 3rd opinion both indicate femur piece was placed out of alignment in two ways. I have documents up the wazoo! Would be interested in a class act[Show More]Botched mako here. Surgery RUINED my leg and life. Unbearable pain (as stated above) is an understatement. 2.5 years later had a TKR to correct. Operative report indicates surgeon "bumped" the robot out of alignment during surgery. 2nd opinion and 3rd opinion both indicate femur piece was placed out of alignment in two ways. I have documents up the wazoo! Would be interested in a class action against mako
MaryJune 19, 2017 at 8:28 pm
Soft tissue damage
JamesJune 2, 2017 at 3:50 pm
Robot stopped during surgery ...knee has never been right ..
EdwardMay 5, 2016 at 2:55 pm
My MAKOplasty knee operation was not successful. Unbearable amount of pain.
SharonMay 20, 2015 at 4:55 pm
What about the patients who had the surgery and it has failed mine was in 2011 on both knees, now I am looking at total knee replacement !