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  "docSlug": "1233d0b05ad9",
  "documentTitle": "PROCEPT BioRobotics Corporation (PRCT)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
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  "presentationDate": "2025-01-16 00:00:00",
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  "notes": "Includes a direct quote from a urologist validating the superiority of laser-based HoLEP over waterjet-based ablation.",
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      "kind": "callout",
      "text": "Andromeda Surgical Recently Announced a Robotic HoLEP That Addresses the Procedure’s Issues",
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      "text": "So there's no question HoLEP is the best because you remove more tissue and it's bloodless. There's temporary incontinence, but we can overcome that...So, what if somebody invents a robotic HoLEP? There is at this point a cocktail napkin design of [it]. So it's many, many years away. But that would replace ablation in five minutes because laser is better than waterjet. The waterjet is sloppy. It's imprecise. It doesn't go deep enough, but it's the best we have. Laser is just better.",
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      "text": "Founded in 2023, Andromeda has swiftly brought its vision to life, progressing from initial concept to successful clinical use within just 18 months. Robotic-assisted HoLEP (RoLEP™) represents the first clinical application of its platform. HoLEP was initially developed in 1998 by Prof. Peter Gilling and Mr. Mark Fraundorfer in New Zealand. The procedure has rapidly gained recognition as the gold-standard treatment for benign prostatic hyperplasia (BPH or enlarged prostate), though a steep learning curve has limited its adoption. By reducing the procedure's learning curve, Andromeda aims to empower every urologist to perform HoLEP at world expert level.",
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      "kind": "paragraph",
      "text": "As discussed, some urologists consider HoLEP to be the best resective procedure, but its use is limited due to an extensive training requirement and longer procedure times. However, MedTech start-up Andromeda Surgical has innovated a “robotic HoLEP” procedure that addresses these two drawbacks. A urologist at a leading medical hospital we interviewed believes that such a procedure would be a game changer.",
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      "kind": "quote",
      "text": "“So there are two threats [to Aquablation]. One is robotic HoLEP. So there's no question HoLEP is the best because you remove more tissue and it's bloodless. There's temporary incontinence, but we can overcome that...So, what if somebody invents a robotic HoLEP? There is at this point a cocktail napkin design of [it]. So it's many, many years away. But that would replace ablation in five minutes because laser is better than waterjet. The waterjet is sloppy. It's imprecise. It doesn't go deep enough, but it's the best we have. Laser is just better.”",
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      "kind": "quote",
      "text": "“So there are two threats [to Aquablation]. One is robotic HoLEP. So there's no question HoLEP is the best because you remove more tissue and it's bloodless. There's temporary incontinence, but we can overcome that...So, what if somebody invents a robotic HoLEP? There is at this point a cocktail napkin design of [it]. So it's many, many years away. But that would replace ablation in five minutes because laser is better than waterjet. The waterjet is sloppy. It's imprecise. It doesn't go deep enough, but it's the best we have. Laser is just better.” — Major Hospital Urologist, Nov 2024",
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      "kind": "source-note",
      "text": "Red underline for Spruce Point emphasis\nSource: PR Newswire, Spruce Point research",
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      "kind": "title",
      "text": "In Addition, There Are New, Potentially Superior, Resective Procedures On The Horizon",
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      "matchId": "17e1ec21-2bd1-4ff1-b983-f7997063a070",
      "evidence": "Quotes and testimonials from urologists and analysts",
      "position": 2,
      "objective": "Highlighting the concerns and skepticism of urologists and investors",
      "structure": "What Customers Say (Verbatim) -> The Pattern Across Voices -> The Insight -> The Response",
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