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Robots - Sunday, October 2, 2005

InTouch Technologies - Profile

HQ: Santa Barbara, CA; previously InTouch Health

Founded: 2002

Management: Dr. Yulan Wang is CEO. In 1989, he founded Computer Motion which is now a subsidiary of Intuitive Surgical [Nasdaq: ISRGD]. Computer Motion peaked at $125M in revenue and had a $150M IPO.

Investors: In September 2005, the company raised a $12.1M Series C round led by Galen Partners with existing investors including Acacia Venture Partners and InvestCare Partners.

Business Model: The company is creating robots that will provide remote presence for busy doctors to allow them to virtually consult. The company plans to feed on a growing nursing shortage trend to allow nurses to provide care to several patients at a time with the aid of robots. About a dozen hospitals are currently using the 5 foot 4 inch robots. They are described as looking like large vacuum cleaners with displays for heads. Case studies generally describe the robots as helping with routine discharge procedures.

The RP6 Model in The Field

Competitors: No apples to apples in the medical profession.

Dirt: Robots could be the next big thing as shortages of soldiers, medical workers and unskilled laborers in the US are leading companies to explore alternatives and as the technology has matured. The Massuchessetts-based company iRobot is leading the way, but it appears that InTouch is making surprise success in the ludite world of health.