Core Viewpoint - PROCEPT BioRobotics has appointed Larry L. Wood as the new CEO, succeeding Reza Zadno, who has led the company to significant growth and expansion since 2020 [2][3]. Group 1: CEO Transition - Larry L. Wood, a seasoned executive with 18 years of experience at Edwards Lifesciences, will officially take over as CEO on September 2, 2025 [2][3]. - Under Zadno's leadership, PROCEPT achieved a substantial increase in annual surgical procedures from hundreds to nearly 100,000 for Aquablation therapy [4]. - The company completed an IPO in 2021, raising over $600 million [4]. Group 2: New CEO's Background - Wood has a strong background in the medical device industry, having served as Group President and Corporate Vice President at Edwards Lifesciences, where he was responsible for TAVR and structural heart disease operations [4][5]. - He has a proven track record of leading the development and commercialization of the SAPIEN transcatheter aortic valve replacement system, establishing TAVR as a global standard for aortic stenosis treatment [4][5]. - Wood's personal net worth is estimated at $16.21 million, primarily from his holdings in Edwards Lifesciences [5]. Group 3: Company Focus and Market Potential - PROCEPT BioRobotics specializes in robotic solutions for urology, with its core product, Aquablation Therapy, being the first ultrasound-guided, robot-assisted, non-thermal water ablation therapy for treating BPH [9][10]. - The company aims to expand the global market for Aquablation, with a 48% year-over-year revenue growth reported in Q2 2025 [11]. - PROCEPT has initiated clinical trials for prostate cancer treatment, indicating plans to broaden its product line to address more urological conditions [13]. Group 4: Strategic Advantages - Wood's experience in global commercialization and market entry strategies is expected to accelerate Aquablation's entry into new markets [13]. - His ability to navigate regulatory environments and secure reimbursement for new technologies may facilitate quicker adoption of BPH treatments in various countries [13]. - The company is developing a multi-procedure robotic platform, expanding its capabilities beyond BPH to include other urological diseases [13].

Core Insights - PROCEPT BioRobotics announced the appointment of Larry L. Wood as president and CEO effective September 2, 2025, succeeding Dr. Reza Zadno who will retire on September 1, 2025 [1][3] - Dr. Zadno has led the company through significant growth, including the adoption of Aquablation® therapy for BPH treatment and a successful public offering in 2021 [2][3] - The company pre-announced second quarter 2025 revenue of approximately $79.2 million, representing an annual growth of 48% [5][4] Leadership Transition - Larry L. Wood brings over 40 years of experience in the medical technology industry, previously serving at Edwards Lifesciences and Baxter Healthcare [4][3] - Wood has been a member of PROCEPT BioRobotics' board of directors since 2024 and is recognized for his leadership in the medical device sector [4][3] - The board expressed confidence in Wood's ability to lead the company through its next growth phase, emphasizing his experience in clinically demanding medical device categories [4][3] Company Performance - Under Dr. Zadno's leadership, the number of global Aquablation procedures increased from a few hundred to nearly 100,000, and the company raised over $600 million in capital [2][3] - The company aims to revolutionize BPH treatment globally by delivering advanced robotic solutions that positively impact patient care [5][6] - PROCEPT BioRobotics has developed a significant body of clinical evidence supporting the benefits of Aquablation therapy, with over 150 peer-reviewed publications [6]

Core Insights - PROCEPT BioRobotics Corporation announced that Aquablation therapy has been assigned a Category I CPT code effective January 1, 2026, marking a significant milestone for the company and the urology community [1][3] - The new Category I CPT code 52XX1 will replace the previous Category III CPT code 0421T and is associated with a proposed national average payment of approximately $540 under the 2026 Medicare Physician Fee Schedule [2][3] - The transition to a Category I code is expected to enhance surgeon adoption and increase patient access to Aquablation therapy, which offers durable symptom relief with a low risk of sexual side effects [3] Payment Structure - The 2026 proposed payment for Aquablation therapy is set at 16.14 total RVUs, compared to 15.82 total RVUs for TURP, which translates to an average payment of approximately $529 [3] - The Proposed Physician Fee Schedule was released on July 14, 2025, and will undergo a public comment period until September 2025, with a final rule expected in November 2025 [4] Aquablation Therapy Overview - Aquablation therapy is the first and only ultrasound-guided, robotic-assisted, heat-free waterjet treatment for benign prostatic hyperplasia (BPH), providing personalized treatment planning based on real-time imaging [5][6] - The technology allows for precise removal of prostate tissue while preserving critical anatomy related to erectile and ejaculatory function, making it suitable for a wide range of patients [5][6] - BPH affects approximately 40 million men in the United States, highlighting the significant market potential for Aquablation therapy [6]