{"slug":"intuitive-surgical","name":"인튜이티브 서지컬","name_en":"Intuitive Surgical, Inc.","ticker":"ISRG","updated_at":"2026-09-11T13:41:21.176573+00:00","canonical":"https://valuechain.wiki/intuitive-surgical","citable":"밸류체인 그래프 기준 인튜이티브 서지컬의 직접 연결 기업은 2곳(관계 기준 공급 1·매출 1)이고, 사슬을 2차까지 넓히면 2곳에 닿는다. 링크의 근거 출처는 7건이며 그중 1차공시가 3건이다 (valuechain.wiki, 2026-09-11 기준).","citable_en":"Per the valuechain.wiki graph, Intuitive Surgical, Inc. is directly linked to 2 companies (1 supply, 1 revenue relationships) and reaches 2 companies within two hops; the links are backed by 7 dated sources, 3 of them primary filings (as of 2026-09-11).","kicker":"로봇수술 플랫폼","kicker_en":"Robotic-assisted surgery platform","lead":"인튜이티브 서지컬은 병원과 의료 네트워크에 다빈치 수술 시스템, 기구·액세서리, 서비스를 판매한다. 정밀 부품과 위탁생산, 수술실 통합 파트너에 비용을 쓰고 유통사업 인수로 직접 판매 지역을 넓힌다.","lead_en":"Intuitive Surgical sells da Vinci systems, instruments and accessories, and services to hospitals and integrated healthcare networks. It spends on precision components, contract manufacturing, and operating-room integration partners while expanding direct sales through distribution acquisitions.","categories":[{"key":"medical-devices-supplies","ko":"의료기기·의료용품","en":"Medical Devices & Supplies","theme":"life-sciences","theme_ko":"바이오·헬스","theme_en":"Biopharma & Life Sciences","theme_kind":"sector","primary":true}],"segments":{"parts":[{"name":"기구 및 액세서리","note":"FY2025 매출 60억1,890만달러"},{"name":"시스템","note":"FY2025 매출 24억7,370만달러"},{"name":"서비스","note":"FY2025 매출 15억7,210만달러"}],"total":"FY2025 총매출 100억6,470만달러 (SEC 10-K, 2026-02-03)","track":"C"},"segments_en":{"parts":[{"name":"Instruments and accessories","note":"FY2025 revenue of $6.0189 billion"},{"name":"Systems","note":"FY2025 revenue of $2.4737 billion"},{"name":"Services","note":"FY2025 revenue of $1.5721 billion"}],"total":"FY2025 total revenue: $10.0647 billion (SEC Form 10-K, filed 2026-02-03)"},"returns_yearly":{"2021":31.8,"2022":-26.1,"2023":27.1,"2024":54.7,"2025":8.5,"2026":-35.3},"return_asof":"2026-09-04","value_chain":{"leading":[{"slug":"hca-healthcare","name":"HCA 헬스케어","name_en":"HCA Healthcare, Inc.","tier":1,"returns_yearly":{"2021":57.6,"2022":-5.6,"2023":13.8,"2024":11.8,"2025":56.7,"2026":-2.9}}],"benefiting":[{"slug":"baxter-international","name":"박스터 인터내셔널","name_en":"Baxter International","tier":1,"returns_yearly":{"2021":8.5,"2022":-39.6,"2023":-21.9,"2024":-22.4,"2025":-33.3,"2026":27.6}}],"analysis":"로봇수술 플랫폼. 2026년 -35.3%로 크게 밀렸다. 수요·공급 연결은 확인되지만 상장 상대 수익률 데이터는 제한적이다.","analysis_en":"Intuitive Surgical, Inc. operates across Robotic-assisted surgery platform. It is down -35.3% in 2026. Its demand and supply links are known, but listed-counterparty return data is limited. It spends on precision components, contract manufacturing, and operating-room integration partners while expanding direct sales through distribution acquisitions.","analysis_asof":"2026-09-04"},"edges":[{"direction":"investment","counterparty":"ab medica·Abex·Excelencia Robótica 유통사업","counterparty_slug":null,"confidence":"high","metric":{"type":"amount","unit":"USD","as_of":"2026-07-21","basis":"매출채권 3,260만달러 정산을 반영한 유럽 유통사업 인수 순현금 지급액","value":533100000,"period":"2026 acquisition","basis_en":"Net cash consideration for the European distribution businesses after settling $32.6 million of receivables","qualifier":"approximately"},"note":"인튜이티브는 2026년 3월 이탈리아·스페인·포르투갈 등에서 세 회사와 관계사가 운영하던 다빈치·Ion 유통사업을 인수했다. 순현금 지급액은 약 5억3,310만달러였고 해당 사업은 완전자회사로 편입됐다.","note_en":"Intuitive acquired the da Vinci and Ion distribution businesses operated by the three companies and their affiliates across Italy, Spain, Portugal, and nearby markets in March 2026. Net cash consideration was approximately $533.1 million, and the businesses became wholly owned subsidiaries.","sources":[{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-07-21","url":"https://www.sec.gov/Archives/edgar/data/1035267/000103526726000058/isrg-20260630.htm","title":"INTUITIVE SURGICAL INC 10-Q (2026-07-21)","title_en":"INTUITIVE SURGICAL INC 10-Q (2026-07-21)","excerpt":"인튜이티브는 유통사업 인수에 약 5억3,310만달러를 순현금으로 지급했다.","excerpt_en":"The Company acquired the distribution businesses for approximately $533.1 million in cash."},{"stance":"confirms","publisher":"인튜이티브 서지컬","publisher_en":"Intuitive Surgical","kind":"ir","lang":"en","published_at":"2026-03-02","url":"https://www.sec.gov/Archives/edgar/data/1035267/000103526726000012/q126ex-991acquisitionpress.htm","title":"인튜이티브, 유럽 투자와 사업 기반 확대","title_en":"Intuitive Expands Investment and Footprint in Europe","excerpt":"인수 완료로 약 250명의 직원과 470대가 넘는 설치 시스템 기반이 편입됐다.","excerpt_en":"The completed transaction brings approximately 250 employees and more than 470 installed systems into Intuitive."}]},{"direction":"cost","counterparty":"UFP 테크놀로지스(DAS Medical)","counterparty_slug":null,"confidence":"high","metric":{"type":"contract_value","unit":"USD","as_of":"2024-03-18","basis":"인튜이티브가 지정 물량을 구매할 경우 UFP가 예상한 초기 4년 공급계약 매출","value":500000000,"period":"2024-2027 initial term","basis_en":"UFP's estimated revenue over the initial four-year supply term if Intuitive purchases the specified volumes","qualifier":"estimate"},"note":"UFP Technologies는 자회사 DAS Medical을 통해 인튜이티브에 특정 의료용 제조품을 반독점 조건으로 공급한다. UFP가 추정한 초기 4년 계약 매출은 약 5억달러이며, 이는 인튜이티브가 지정 물량을 구매한다는 조건부 공급사 추정치다.","note_en":"UFP Technologies supplies specified medical manufacturing products to Intuitive through its DAS Medical subsidiary on a semi-exclusive basis. UFP estimated about $500 million of revenue over the initial four-year term, contingent on Intuitive purchasing the specified volumes.","sources":[{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2024-03-18","url":"https://www.sec.gov/Archives/edgar/data/914156/000117184324001413/f8k_031824.htm","title":"UFP TECHNOLOGIES INC 8-K (2024-03-18)","title_en":"UFP TECHNOLOGIES INC 8-K (2024-03-18)","excerpt":"UFP는 지정 물량 구매를 전제로 초기 계약기간 매출을 약 5억달러로 추정했다.","excerpt_en":"The Company estimates the potential revenue to be generated over the initial term to be approximately $500 million."}]},{"direction":"cost","counterparty":"단일·독점 부품 공급사(비공개)","counterparty_slug":null,"confidence":"high","metric":{"type":"amount","unit":"USD","as_of":"2026-02-03","basis":"단일·독점 공급사에서 조달한 맞춤형·상용 부품 구매액","value":null,"period":"FY2025","basis_en":"Purchases of custom and off-the-shelf components from sole- and single-source suppliers","qualifier":"sole_source"},"note":"인튜이티브는 일부 맞춤형·상용 부품을 단일 또는 독점 공급사에 의존하고 대부분을 개별 구매주문으로 조달한다. 공급사별 구매액과 업체명은 공시하지 않았다.","note_en":"Intuitive relies on sole- or single-source suppliers for some custom and off-the-shelf components and procures most items through purchase orders. It does not disclose supplier names or spending by supplier.","sources":[{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-02-03","url":"https://www.sec.gov/Archives/edgar/data/1035267/000103526726000010/isrg-20251231.htm","title":"INTUITIVE SURGICAL INC 10-K (2026-02-03)","title_en":"INTUITIVE SURGICAL INC 10-K (2026-02-03)","excerpt":"회사는 일부 맞춤형·상용 부품을 단일 또는 독점 공급사에서 구매한다.","excerpt_en":"We purchase some of our custom components and off-the-shelf components from sole- and single-source suppliers."}]},{"direction":"cost","counterparty":"박스터 인터내셔널","counterparty_slug":"baxter-international","confidence":"high","metric":{"type":"amount","unit":"USD","as_of":"2026-02-03","basis":"Hillrom과의 공동개발 및 박스터 수술대 통합과 관련된 인튜이티브의 지급액","value":null,"period":"as of FY2025","basis_en":"Intuitive payments related to co-development with Hillrom and integration with Baxter operating tables","qualifier":"confirmed_no_disclosed_value"},"note":"인튜이티브는 현재 박스터 계열인 Hillrom과 수술대 연동 기술을 공동개발했다. 박스터가 판매하는 TS7000dV 수술대는 다빈치 5의 표준 Integrated Table Motion 기능과 연결되지만 양사 간 지급 여부와 금액은 공개되지 않았다.","note_en":"Intuitive co-developed operating-table integration with Hillrom, now part of Baxter. Baxter's TS7000dV table connects to Integrated Table Motion, a standard da Vinci 5 feature, but the companies do not disclose whether Intuitive makes payments or their amount.","sources":[{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-02-03","url":"https://www.sec.gov/Archives/edgar/data/1035267/000103526726000010/isrg-20251231.htm","title":"INTUITIVE SURGICAL INC 10-K (2026-02-03)","title_en":"INTUITIVE SURGICAL INC 10-K (2026-02-03)","excerpt":"Integrated Table Motion은 Hillrom과 공동개발했으며 Hillrom은 현재 Baxter의 일부다.","excerpt_en":"Integrated Table Motion was developed in collaboration with Hillrom, which is now part of Baxter."}]},{"direction":"revenue","counterparty":"HCA 헬스케어","counterparty_slug":"hca-healthcare","confidence":"mid","metric":{"type":"count","unit":"system","as_of":"2025-03-31","basis":"HCA Florida Capital Hospital이 도입한 다빈치 5 시스템 수","value":1,"period":"2025 acquisition","basis_en":"Da Vinci 5 systems acquired by HCA Florida Capital Hospital","qualifier":null},"note":"HCA Florida Capital Hospital은 2025년 다빈치 5 한 대를 도입했다. HCA는 당시 산하 수술센터에 로봇 934대를 보유한 대형 병원 고객군이지만 인튜이티브가 HCA에서 얻는 매출액은 공개되지 않았다.","note_en":"HCA Florida Capital Hospital acquired one da Vinci 5 system in 2025. HCA was a major hospital customer group with 934 robots across its surgical facilities, but Intuitive did not disclose revenue from HCA.","sources":[{"stance":"confirms","publisher":"HCA 플로리다 캐피털 병원","publisher_en":"HCA Florida Capital Hospital","kind":"news","lang":"en","published_at":"2025-03-31","url":"https://www.hcafloridahealthcare.com/locations/capital-hospital/about-us/newsroom/capital-hospital-acquires-new-robotic-surgical-system","title":"HCA Florida Capital Hospital, 새 로봇 수술 시스템 도입","title_en":"HCA Florida Capital Hospital Acquires New Robotic Surgical System","excerpt":"HCA Florida Capital Hospital은 인튜이티브 다빈치 5 수술 시스템을 최근 도입했다고 밝혔다.","excerpt_en":"HCA Florida Capital Hospital is pleased to announce the recent acquisition of the Intuitive da Vinci 5 surgical system."}]},{"direction":"revenue","counterparty":"삼성서울병원","counterparty_slug":null,"confidence":"mid","metric":{"type":"count","unit":"system","as_of":"2026-08-03","basis":"삼성서울병원이 폐암·식도암 수술 전용으로 도입한 다빈치 5 시스템 수","value":1,"period":"2026 acquisition","basis_en":"Da Vinci 5 systems introduced by Samsung Medical Center for lung and esophageal cancer surgery","qualifier":null},"note":"삼성서울병원은 2026년 폐암과 식도암 수술 전용 다빈치 5 한 대를 도입했다. 병원별 구매가격은 공개되지 않았고, 증권사 리서치는 같은 제품의 2025년 상반기 판매가 전년 연간 수준에 근접했다고 평가했다.","note_en":"Samsung Medical Center introduced one da Vinci 5 system dedicated to lung and esophageal cancer surgery in 2026. The hospital-level purchase price was not disclosed, while securities research found that first-half 2025 sales of the same platform were already close to the full-year 2024 level.","sources":[{"stance":"confirms","publisher":"전자신문","publisher_en":"Electronic Times","kind":"news","lang":"ko","published_at":"2026-08-03","url":"https://www.etnews.com/20260803000089","title":"삼성서울병원, 폐·식도암 수술 전용 '다빈치5' 도입","title_en":"Samsung Medical Center Introduces Dedicated Da Vinci 5 for Lung and Esophageal Cancer Surgery","excerpt":"삼성서울병원이 폐암·식도암 수술 전용 최신 로봇수술 시스템 '다빈치5'를 도입했다.","excerpt_en":"Samsung Medical Center introduced the latest da Vinci 5 robotic surgery system dedicated to lung and esophageal cancer surgery."},{"stance":"mentions","publisher":"미래에셋증권 리서치센터","publisher_en":"Mirae Asset Securities Research","kind":"research","lang":"ko","published_at":"2025-07-25","url":"https://securities.miraeasset.com/bbs/download/2137521.pdf?attachmentId=2137521","title":"인튜이티브 서지컬: 다빈치 5 대대적 출시 개시","title_en":"Intuitive Surgical: Broad Da Vinci 5 Rollout Begins","excerpt":"다빈치 5 판매는 상반기 327대로 2024년 연간 362대에 근접했다.","excerpt_en":"First-half da Vinci 5 sales reached 327 systems, approaching the 362 systems sold in full-year 2024."}]}]}