TransEnterix Reports Operating Results For The First Quarter 2017

RESEARCH TRIANGLE PARK, N.C.--(BUSINESS WIRE)--TransEnterix, Inc. (NYSE MKT:TRXC), a medical device company that is pioneering the use of robotics to improve minimally invasive surgery, today announced its operating and financial results for the first quarter of 2017.

Recent Highlights

• On February 23, 2017, the Company sold a Senhance Surgical Robotic System to St. Marien-Krankenhaus Siegen, a large multi-specialty hospital, establishing the hospital’s robotic surgical program
• In April 2017, the Company submitted its 510(k) application for the Senhance Surgical Robotic System to FDA
• The Company established its fourth European Clinical Leadership site in Hamburg, Germany
• On April 28, 2017, the Company raised approximately $23.2 million through an equity financing
• On May 10, 2017, the Company refinanced its debt, securing up to $17.0 million in debt financing
• As a net result of the combined financings, the Company expects to be able to fund its operations into the second quarter of 2018

“We are very pleased with the progress we have made thus far in 2017, including the submission of our Senhance 510(k) application,” said Todd M. Pope, President and Chief Executive Officer of TransEnterix. “We will continue to build upon the strong foundation we’ve established to drive growth in Europe, and continue to expect FDA clearance for the Senhance in 2017.”