Microbot Medical Gains Traction with LIBERTY Robotic System as Early Adopters Detail Clinical Experience and Adoption Patterns
Conference Call on May 18, 2026
Microbot Medical is demonstrating commercial momentum following its mid-April full market release of the LIBERTY Endovascular Robotic System, with revenue halfway through the second quarter already exceeding total first quarter sales. The company's account base has more than doubled since commencing the full market release, expanding from the limited market release phase into six states: Georgia, Florida, New York, Michigan, Massachusetts, and North Carolina.
Perhaps more significantly, two pioneering physician users—the first interventional radiologist and first vascular surgeon to adopt the system—provided detailed accounts of their clinical experience during the call, offering investors rare insight into actual utilization patterns, workflow integration, and the system's value proposition at the point of care.
Real-World Adoption Patterns Emerge from First Users
Dr. Zachary Bercu, an interventional radiologist at Emory Healthcare and the first physician worldwide to use LIBERTY, has now completed 20 cases with the system, 10 of which were robotic prostate artery embolizations. His department has deployed the technology across three different campuses within the Emory system, with four attending physicians and four trainees already exposed to the platform. This multi-site, multi-user adoption within a single health system represents a meaningful validation of the technology's scalability and ease of implementation.
The portability factor appears particularly compelling. "This is so portable that if in our busy practice, we have a patient that's on that table where we did the very last robotic case, it doesn't matter. I can take the next robot, go into the other Angio suite and begin to use it for a case," Dr. Bercu explained. "That is not something that ever existed before until this technology came about."
At Tampa General Hospital, vascular surgeon Dr. Charles Briggs has completed six cases using LIBERTY. Notably, three of the seven vascular surgeons in his department—nearly half the group—have adopted the system. The technology is being used in both the interventional radiology suite and the operating room, with interventional radiologists at the institution also utilizing the platform. This cross-specialty adoption within a single institution demonstrates broader appeal than initially evident and suggests the addressable market may extend beyond the company's primary target of interventional radiologists.
Procedure Breadth Exceeds Initial Expectations
Chief Medical Officer Juan Diaz-Cartelle detailed three primary procedure categories where LIBERTY is being deployed. Prostatic artery embolization for benign prostatic hyperplasia represents the most frequent application, addressing an estimated 40 million men in the United States with prostate enlargement. These procedures are particularly time-consuming, often requiring two to three hours of navigation through challenging anatomy, making them ideal candidates for robotic assistance.
Genicular artery embolization for knee pain represents a second significant category. This musculoskeletal intervention serves as a bridge between conservative management and total knee replacement, an area where no effective intermediate treatment previously existed. The procedure requires precise navigation to multiple arteries, again playing to LIBERTY's strengths.
Perhaps most interesting is the system's application in Y90 radioembolization for hepatocellular carcinoma. Here, the value proposition centers on minimizing manual manipulation of radioactive materials. As Diaz-Cartelle noted, "LIBERTY allows you to be completely hands off of these materials in certain portions of the intervention," reducing contamination risk for personnel and the operating room.
Dr. Briggs added another dimension, describing use in transmesenteric inferior mesenteric artery embolizations for aortic aneurysm endoleaks—what he termed "the Achilles heel" of endovascular aneurysm repair. He also detailed successful deployment via pedal access for tibial chronic total occlusions, demonstrating the system's versatility across multiple access points.
Workflow Integration Proves Seamless
Both physicians emphasized that LIBERTY adds no meaningful time to procedures. Dr. Briggs stated the setup time is "net zero" because his team prepares the robot while he advances the sheath into position. Dr. Bercu concurred, noting that while setup takes "a minute or two," navigation through tortuous anatomy tends to be faster. He cited specific cases where he performed mapping procedures manually but used the robot for subsequent treatment sessions, achieving equal or faster procedure times despite the setup requirement.
The system accommodates guidewires from 0.014 to 0.018 inches and microcatheters ranging from 2.0 to 3.0 French—covering the overwhelming majority of devices these physicians use. The key consideration is wire and catheter length, with Dr. Bercu typically using microcatheters 40 to 50 centimeters longer than his base catheter and microwires 40 to 50 centimeters longer than the microcatheter. Dr. Briggs confirmed that implementation required "no additional capital expense" for compatible devices.
Radiation Protection Drives Adoption Decision
The radiation protection benefit emerged as a primary driver of adoption. Dr. Briggs, now in his mid-to-late 40s, candidly discussed back problems from wearing heavy lead protection and concerns about long-term radiation exposure. "These patients undergo lengthy embolization procedures to try to stop the leak around their stent graft," he said of endoleak cases. "So I basically pull the robot for all of those. I really don't do these cases by hand anymore."
Dr. Bercu indicated he is moving toward using the robot for nearly all prostate artery embolizations, viewing it not as a tool for select difficult cases but as potential platform technology that may standardize the procedure. "The barrier to these new procedures is experienced in navigating tortuous anatomy," he explained. "Having technology that catalyzes that process for many people, we may actually be talking about platform technology that may standardize the procedure."
Both physicians noted they are not yet consistently leaving the procedure room during robotic cases but are moving in that direction. Dr. Bercu explained that once wireless foot pedals are installed—an investment his department is making—there would be little barrier to operating from outside the room entirely.
Patient Demand Emerges as Unexpected Factor
An unanticipated development is patient-driven demand for robotic procedures. Dr. Bercu disclosed this information to patients as part of informed consent, expecting potential concern about robotic technology. Instead, the opposite occurred. "As soon as there was press about our use of Microbot Liberty at Emory, interestingly, my Division Director, who is covering the same campus I am today has been talking about how patients are actually calling Emory and saying I want the procedure done robotically," Dr. Bercu said. "They're seeing this as future forward technology and that they actually are looking for the institutions that deliver that future forward technology."
This patient preference may create competitive pressure among institutions to offer robotic capabilities, potentially accelerating adoption beyond what purely clinical factors would drive.
Commercial Traction Validates Strategy
CEO Harel Gadot highlighted that the company is seeing both new account acquisition and repeat orders from existing customers—the dual dynamic necessary for sustainable growth. Boston became the first city where Microbot has multiple accounts, which Gadot characterized as "a major achievement" given that Boston historically requires longer sales cycles due to more complex institutional processes. Closing two major Boston accounts within approximately four months suggests the value proposition is resonating even in challenging markets.
Importantly, two of the three sites that participated in the ACCESS-PVI pivotal clinical trial have converted to commercial accounts. This transition from research protocol to commercial adoption by institutions with the most intimate knowledge of the technology represents strong validation.
The company noted that nine medical societies recently adopted guidelines to reduce radiation exposure and physical strain on operators, which could serve as a catalyst for broader adoption. While this regulatory tailwind was not detailed, it suggests the market environment is increasingly favorable for radiation-reduction technologies.
Capital-Light Model Facilitates Purchasing
The disposable, portable nature of LIBERTY significantly eases the purchasing process compared to traditional capital robotic systems. Dr. Bercu explained that acquiring LIBERTY "was basically like asking for another microcatheter, right, tool or another tool along those lines rather than asking for capital equipment." This bypasses the capital budget approval process that can delay or prevent acquisition of traditional fixed robotic systems.
Dr. Briggs confirmed this experience at Tampa General: "We brought this technology to the leadership and leadership absolutely endorsed the purchase. There were no questions asked." He added that hospital administration appreciated offering technology "to relieve some of the burden on the physicians."
The pricing appears competitive with existing microcatheters and guidewires, avoiding the cost barrier that might accompany novel technology. Neither physician indicated any pushback on cost from hospital administrators.
Learning Curve Proves Minimal
As the first users globally, both physicians had no reference point or established best practices when beginning with LIBERTY. Despite this disadvantage, both reported rapid adoption and minimal learning curves. Dr. Bercu described the transition as "not going from walking to running. It's going from walking to a bicycle. We're just adapting to a slightly different even though there's a fast learning curve."
The fact that multiple physicians at each institution quickly adopted the technology—four attendings at Emory, three of seven vascular surgeons at Tampa General—suggests that after initial implementation, subsequent users face even easier onboarding. This bodes well for rapid scaling within institutions once the first user demonstrates value.
Addressing Market Expansion
Gadot indicated the company is expanding beyond the limited market release territories into additional regions. With accounts now spanning the Southeast, Mid-Atlantic, Northeast, and Midwest, the geographic footprint is broadening. The company has not disclosed specific sales force size or expansion plans, but the ability to more than double accounts in the first two months of full market release suggests adequate commercial resources.
The cross-specialty adoption—both interventional radiologists and vascular surgeons using LIBERTY—potentially doubles the addressable market from initial projections focused primarily on interventional radiology. The different use cases between specialties (vascular surgeons emphasizing chronic total occlusions and endoleak embolizations; interventional radiologists focusing on prostate artery embolization, genicular embolization, and Y90 procedures) suggest diverse revenue streams less dependent on any single procedure type.
Neither physician nor management discussed competitive dynamics in detail, though the absence of comparable portable robotic systems was implicit throughout the discussion. Dr. Bercu's comment that portable robotics allowing room-to-room mobility "is not something that ever existed before" suggests LIBERTY occupies a unique position, at least temporarily.
The company did not provide specific financial guidance, unit sales figures, or average selling prices. Gadot noted only that Q2 revenue to date exceeds total Q1 revenue, but without Q1 figures for context, investors cannot quantify the growth rate. The company plans to report Q2 results in August, which will provide the first clear financial picture of commercial traction.
Microbot Medical Deep Dive: Disrupting the Endovascular Robotics Paradigm Through Disposable Innovation
The Architectural Shift in Medical Robotics
In the highly regulated, slow-moving world of medical technology, true structural disruption rarely arrives via iterative improvements in software or mechanics. Instead, it occurs when a company alters the fundamental economic and operational model of how a hospital procures and utilizes equipment. As of mid-2026, Microbot Medical Inc. has transitioned from a clinical-stage research and development entity into a commercial-stage enterprise that is actively challenging the legacy capital equipment model. Following the September 2025 Food and Drug Administration 510(k) clearance of its LIBERTY Endovascular Robotic System, Microbot Medical has initiated a full market release across the United States. The clinical premise of endovascular robotics has long been established: robotic systems provide superior precision, reduce radiation exposure for physicians, and eliminate the orthopedic strain of wearing heavy lead aprons during lengthy catheterizations. However, commercial adoption has historically been stifled by the immense upfront costs and spatial requirements of the robots themselves. Microbot Medical has completely inverted this model by engineering the world's first fully disposable, single-use, remotely operated robotic system for peripheral endovascular procedures.
A Business Model Built on Operating Budgets, Not Capital Expenditures
To understand the intrinsic value of Microbot Medical, one must analyze its approach to hospital procurement economics. Traditional medical robotics rely on a capital-intensive business model. A hospital must endure a lengthy, multi-tiered approval process to secure a capital expenditure budget, often ranging from $1 million to $2 million per system, followed by the dedication of a customized operating room to house the bulky equipment. Microbot Medical bypasses this friction entirely. Because the LIBERTY system is a compact, single-use device, it does not require a dedicated room or a capital expenditure committee approval. Instead, the cost of the system flows directly through the hospital's day-to-day operating budget, akin to the purchasing of specialized catheters, stents, or pacemakers. This allows for rapid, decentralized adoption across various departments, from interventional radiology to vascular surgery. The business model generates recurring revenue per procedure, effectively creating a razor-and-blade economic loop without forcing the hospital to buy an expensive razor. By removing the financial and logistical barriers to entry, Microbot can penetrate mid-sized clinics and ambulatory surgical centers that could never previously justify the footprint or the cost of legacy robotic systems.
Market Opportunity and Key Customer Dynamics
The total addressable market for Microbot Medical is vast, with approximately 2.5 million peripheral endovascular procedures performed annually in the United States alone. Following its limited market release in late 2025, the company shifted to a full market release in the second quarter of 2026, rapidly securing strategic footholds. Early commercial adopters represent a tier-one cohort of medical institutions, including Emory University Hospital in Atlanta and Tampa General Hospital in Florida, alongside multiple facilities across New York, Massachusetts, Michigan, and North Carolina. The most significant commercial catalyst to date arrived in June 2026, when Microbot Medical secured a strategic agreement with Lovell Government Services. This pivotal contract places the LIBERTY system on the Federal Supply Schedule, granting the company procurement access to over 2,000 federal healthcare facilities, including those administered by the Veterans Health Administration, the Department of Defense, and the Indian Health Service. By embedding itself into the federal procurement ecosystem, Microbot Medical has secured an expansive, highly reliable customer base that conducts hundreds of peripheral vascular procedures annually per site.
The Competitive Landscape: Heavyweights and Strategic Pivots
The endovascular robotics space has historically been dominated by legacy capital equipment architectures, most notably the CorPath GRX system developed by Corindus Vascular Robotics. Corindus was acquired by Siemens Healthineers for $1.1 billion in 2019, providing a clear benchmark for the valuation of early-stage vascular robotics. However, the commercial reality of the CorPath GRX system validated Microbot Medical's core thesis: the CorPath system suffered from a cumbersome footprint and limited clinical return on investment for standard cardiovascular and peripheral interventions, prompting Siemens to eventually pivot the platform almost entirely toward complex neurovascular procedures. This strategic retreat by the industry heavyweight left a massive vacuum in the peripheral vascular market. Meanwhile, Stereotaxis, a company traditionally known for its magnetic navigation technology, acquired French robotics firm Robocath for up to $45 million in early 2026. Robocath's R-One+ system utilizes a mechanical grasper technology similar to the Corindus model. While Stereotaxis hopes to consolidate the endovascular robotics space, they are still tethered to the capital equipment paradigm. There is currently no direct competitor offering a fully disposable, FDA-cleared robotic system, granting Microbot Medical a distinct monopolistic window in the single-use robotics niche.
Competitive Advantages: Clinical and Operational Supremacy
Microbot Medical's moat is built on three distinct pillars: clinical safety, ergonomic preservation, and operational velocity. During the pivotal ACCESS-PVI human clinical trials, the LIBERTY system demonstrated a 100 percent technical success rate in robotic navigation to target vessels, accompanied by zero device-related adverse events. Crucially, the system delivered a 92 percent relative reduction in physician radiation exposure. In standard catheterization laboratories, interventional radiologists suffer from chronic back pain and orthopedic injuries due to the necessity of wearing heavy lead aprons while standing inches from a radiation source. LIBERTY allows the physician to operate the catheter remotely, eliminating both radiation exposure and physical strain. From an operational standpoint, the single-use nature of the robot eliminates the risk of hospital-acquired infections and cross-contamination. Traditional robots require rigorous sterilization protocols between surgeries, causing expensive downtime in the operating room. With LIBERTY, the device is unpackaged, utilized, and discarded, allowing the catheterization laboratory to maximize patient throughput.
Future Frontiers: Technological Expansion and New End Markets
While the immediate commercial focus remains squarely on the 2.5 million annual peripheral endovascular procedures in the United States, Microbot Medical is aggressively laying the groundwork for lateral expansion. The company recognizes that penetrating highly specialized, high-margin sub-sectors is critical for long-term growth. To this end, Microbot acquired the assets of Nitiloop, including the FDA-cleared NovaCross family of microcatheters. This strategic acquisition allows Microbot to integrate specialized catheter technology directly into the LIBERTY ecosystem, granting the company access to the highly lucrative chronic total occlusion market. Furthermore, Microbot Medical has entered into a strategic collaboration with Stryker, a titan in the medical technology sector. This partnership is focused on integrating Stryker's neurovascular instruments with the LIBERTY robotic system to develop dedicated robotic procedural kits for neurovascular surgeries. If successfully realized, this integration would allow Microbot to challenge Siemens Healthineers directly in the complex stroke and aneurysm intervention market, drastically expanding its total addressable market beyond peripheral procedures.
Management Track Record and Execution Discipline
In the pre-commercial medical technology sector, management execution is often the sole differentiator between a billion-dollar buyout and clinical obscurity. Under the leadership of Chief Executive Officer Harel Gadot, a former Worldwide Group Marketing Director at Johnson & Johnson, Microbot Medical has exhibited a clinical level of operational discipline. Over the past three years, management has consistently met every self-imposed timeline. The company promised an FDA 510(k) submission by the end of 2024, which it delivered. It promised FDA clearance in 2025, securing it in September of that year. It guided for a limited market release in late 2025 and a full market release by the second quarter of 2026, both of which were executed flawlessly, resulting in second-quarter 2026 revenues quickly surpassing the entirety of the first quarter. Furthermore, management has maintained an incredibly disciplined balance sheet. Rather than aggressively diluting shareholders to fund early development, the company leveraged non-dilutive grants from the Israel Innovation Authority to scale its manufacturing infrastructure. As of early 2026, the company boasts over $70 million in total liquidity and marketable securities, reflecting a remarkably strong current ratio that provides ample runway to fund the aggressive ongoing commercial launch without the immediate overhang of capital raises.
The Scorecard
Microbot Medical has successfully engineered a structural paradigm shift within the endovascular robotics industry. By intentionally abandoning the legacy capital equipment model in favor of a fully disposable, single-use architecture, the company has bypassed the severe procurement bottlenecks that have historically paralyzed robotic adoption in mid-tier hospitals and ambulatory surgical centers. The LIBERTY system is not merely a clinical evolution; it is a financial Trojan horse that flows seamlessly through hospital operating budgets, delivering recurring revenue while simultaneously protecting physicians from radiation and eliminating operating room sterilization downtime. The failure of Siemens to aggressively scale the billion-dollar Corindus platform in peripheral markets validates the thesis that bulky, expensive capital equipment is ill-suited for high-volume, routine endovascular procedures.
The transition from a research and development narrative to commercial reality is complete. The execution of the full market release in the second quarter of 2026, bolstered by the immediate integration into the vast federal healthcare ecosystem via Lovell Government Services, indicates that Microbot Medical has moved decisively from clinical validation into the market share acquisition phase. Armed with a fortress balance sheet, a uniquely differentiated, FDA-cleared product, and strategic partnerships aiming at the high-margin neurovascular space, the company operates in a category of one. As it scales its manufacturing and expands its domestic and international footprint, Microbot Medical stands as a highly disruptive force poised to capture a meaningful segment of a multi-million procedure market.