SUNNYVALE, Calif., March 4, 2009 (GLOBE NEWSWIRE) -- Intuitive Surgical, Inc. (Nasdaq:ISRG), the industry leader in surgical robotics, today announced that its board of directors has authorized the repurchase of up to $300 million of the Company’s outstanding common stock. In connection with this stock repurchase authorization, the Company entered into a collared accelerated share repurchase program (the “ASR Program”) with Goldman, Sachs & Co. (“Goldman”) pursuant to which Intuitive will repurchase $150 million of its common stock from Goldman. A majority of the shares purchased under the ASR Program will be received and retired within 2 weeks. The remaining shares, if any, under the program will be received and retired by June, although they could be received earlier if the ASR Program is ended earlier.
