Providence Advances Surgical Robotics Program with Multi-System, National Contract for PROCEPT BioRobotics AquaBeam Systems

REDWOOD CITY, Calif., Sept. 19, 2022 (GLOBE NEWSWIRE) — PROCEPT^® BioRobotics Corporation (Nasdaq: PRCT), a surgical robotics company focused on advancing patient care by developing transformative solutions in urology, and Providence, a not-for-profit health system serving the Western U.S., today announced a multi-system, national contract to acquire AquaBeam Robotic Systems. As of June 30, 2022, Providence had seven AquaBeam Robotic Systems installed across California and Texas.

“For men affected by benign prostatic hyperplasia, Aquablation therapy’s safety and efficacy profile provides long-term symptom relief leading to significant improvements in quality of life,” said Richard Shapiro, M.D., F.A.C.S., on staff at Providence Cedars-Sinai Tarzana Medical Center and one of the first Providence urologists to perform the new procedure. “This option appeals to men who are looking for a long-lasting solution with minimal risk of irreversible complications.”

“PROCEPT is honored to partner with leading health systems, such as Providence, that are committed to advancing patient care through next-generation innovations and we look forward to supporting their growing programs across the western United States,” said Sham Shiblaq, Executive Vice President, Chief Commercial Officer of PROCEPT. “As we continue to expand our global commercial footprint, our dedicated team remains focused on accelerating adoption of Aquablation therapy and bringing this much needed treatment option to all patients.”

Aquablation therapy combines real-time, multi-dimensional imaging, automated robotics and heat-free waterjet ablation for targeted, controlled and immediate removal of prostate tissue. Combining both cystoscopic visualization and ultrasound imaging, surgeons can create a personalized treatment plan tailored to each patient’s anatomy. Once the personalized treatment map is complete, the robotically controlled, heat-free waterjet ablates the prostate tissue, avoiding critical structures to preserve sexual function and continence.^1,2,3

For more information on Providence, visit www.providence.org

For more information on Aquablation therapy, visit www.aquablation.com

About Providence
Providence is a national, not-for-profit Catholic health system comprising a diverse family of organizations and driven by a belief that health is a human right. With 52 hospitals, over 900 physician clinics, senior services, supportive housing, and many other health and educational services, the health system and its partners employ nearly 120,000 caregivers serving communities across seven states – Alaska, California, Montana, New Mexico, Oregon, Texas, and Washington, with system offices in Renton, Wash., and Irvine, Calif.

About PROCEPT BioRobotics Corporation
PROCEPT BioRobotics is a surgical robotics company focused on advancing patient care by developing transformative solutions in urology. PROCEPT develops, manufactures and sells the AquaBeam Robotic System, an advanced, image-guided, surgical robotic system for use in minimally-invasive urologic surgery with an initial focus on treating benign prostatic hyperplasia, or BPH. BPH is the most common prostate disease and impacts approximately 40 million men in the United States. PROCEPT designed Aquablation therapy to deliver effective, safe and durable outcomes for males suffering from lower urinary tract symptoms, or LUTS, due to BPH that are independent of prostate size and shape or surgeon experience. PROCEPT has developed a significant and growing body of clinical evidence, which includes nine clinical studies and over 100 peer-reviewed publications, supporting the benefits and clinical advantages of Aquablation therapy.

Forward Looking Statements
This release contains forward‐looking statements within the meaning of federal securities laws, including with respect to the Company’s projected financial performance for full year 2022, statements regarding the potential utilities, values, benefits and advantages of Aquablation^® therapy performed using PROCEPT BioRobotics’ products, including AquaBeam^® Robotic System, which involve risks and uncertainties that could cause the actual results to differ materially from the anticipated results and expectations expressed in these forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements are only predictions based on our current expectations, estimates, and assumptions, valid only as of the date they are made, and subject to risks and uncertainties, some of which we are not currently aware. Forward-looking statements may include statements regarding financial guidance, market opportunity and penetration, the Company’s possible or assumed future results of operations, including descriptions of the Company’s revenues, gross margin, profitability, operating expenses, installed base growth, commercial momentum, reimbursement coverage, overall business strategy, and other global events on the Company and its operations. Forward‐looking statements should not be read as a guarantee of future performance or results and may not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. These forward‐looking statements are based on the Company’s current expectations and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in such forward‐looking statements as a result of these risks and uncertainties. These risks and uncertainties are described more fully in the section titled “Risk Factors” in the Company’s filings with the Securities and Exchange Commission (the “SEC”), including the Company’s annual report on From 10-K filed with the SEC on March 22, 2022, and in the Company’s other periodic reports filed with the SEC. PROCEPT BioRobotics does not undertake any obligation to update forward‐looking statements and expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward‐looking statements contained herein. These forward-looking statements should not be relied upon as representing PROCEPT BioRobotics’ views as of any date subsequent to the date of this press release.

Important Safety Information

All surgical treatments have inherent and associated side effects. For a list of potential side effects visit https://aquablation.com/safety-information/

Investor Contact:
Matt Bacso, CFA
VP, Investor Relations and Business Operations
[email protected]