5 Surgical Robots to Look Out for in 2019

Robotics Business Review | December 31, 2018

Just as manufacturers rely on robots to reduce human errors and maintain product quality, so too are surgical robots alleviating fatigue while aiding procedures requiring great precision.
The high cost of surgical robots has been a barrier to adoption, but more hospitals are deciding that they’re worth the investment. The equipment can help surgeons perform minimally invasive operations, from which patients can recover more quickly and easily than traditional procedures.
The global market for surgical robots will experience a compound annual growth rate of 10.4%, from $3.9 billion in 2018 to $6.5 billion by 2023, according to Markets and Markets. In 2009, Penn State Milton S. Hershey Medical Center began establishing best practices for medical centers using surgical robots. The Journal of the Society of Laparoendoscopic Surgeons noted that the facility initially used robots for only a small assortment of procedures. However, the diversity of uses has increased over the years, with the most growth in gynecology and urology.

Spotlight

Flying ready-made quadcopters is fun. Eventually, though, most hackers get the urge to build their own. One of the most challenging parts is building a robust airframe. JG Projects has an interesting approach: he uses schedule 21 PVC pipe to build a sturdy airframe that is inexpensive and can house the craft’s electronics to boot.

Spotlight

Flying ready-made quadcopters is fun. Eventually, though, most hackers get the urge to build their own. One of the most challenging parts is building a robust airframe. JG Projects has an interesting approach: he uses schedule 21 PVC pipe to build a sturdy airframe that is inexpensive and can house the craft’s electronics to boot.

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ENGINEERING TECH

Paragon Innovations is Acquired by TTI’s Exponential Technology Group

Paragon Innovations | September 14, 2021

Paragon Innovations, a privately held Engineering Design Services firm based in Richardson, Texas was acquired by TTI’s Exponential Technology Group , a leading specialty distributor of electronic components.Paragon Innovations will continue to operate under the Paragon Innovations brand name, and Michael Wilkinson, company founder will remain in charge of the business as Vice President and General Manager, reporting to XTG President, Michael Knight. “After more than three decades of success and growth, we join Exponential Technology Group at TTI to complement their services and serve a broader clientele,” said Mike Wilkinson. “We look forward to this new venture and becoming part of the team.” Commenting on the announcement, Knight said, “The Paragon team significantly expands the strength and capabilities of the design services offering within the Exponential Technology Group at TTI. The firm has a remarkable reputation and customer base that has been crafted over the course of thirty years of helping OEM’s big and small bring innovative new products to market. Their involvement runs from the concepting phase through full product design, proof of concept, testing and certification, and readiness for manufacturing.” He further observed, “Paragon perfectly complements Connected Development, the Raleigh, North Carolina IoT design services firm that was acquired by TTI in January of last year. Together, the two companies deploy over 50 electronic hardware, software and mechanical engineers who are experts in a full range of wireless and RF protocols, sensor connectivity, cellular certification, component selection and design for manufacturing.” The acquisition allows Paragon the opportunity to partner with specialty electronic components distributors and design services that will strengthen its ability to provide services under one corporation, resulting in faster and better services to clients. About Paragon Innovations Paragon Innovations was founded in 1990 and is a provider of engineering and product development services. Paragon creates new technologies and turns products into revenue for clients. Paragon serves Fortune 500 companies and startups, and provides turn-key product development services from inception to market launch on time and on budget. About TTI, Inc. TTI, Inc., a Berkshire Hathaway company, is an authorized, specialty distributor of interconnect, passive, and electromechanical components and the distributor of choice for industrial and consumer electronics manufacturers worldwide. Broader and deeper inventory, leading-edge products and custom supply chain solutions have established TTI as the leading specialist in electronic component distribution. Globally, the TTI Family of Companies maintains over two million cubic feet of dedicated warehouse space containing over one million component part numbers. Along with its subsidiaries, Mouser Electronics, Sager Electronics, and the Exponential Technology Group, TTI employs over 7,000 employees and is represented in over 130 locations throughout North America, Europe and Asia. About Berkshire Hathaway Berkshire Hathaway and its subsidiaries engage in diverse business activities including insurance and reinsurance, utilities and energy, freight rail transportation, finance, manufacturing, retailing and services. Common stock of the company is listed on the New York Stock Exchange, trading symbols BRK.A and BRK.B. About the Exponential Technology Group The Exponential Technology Group (XTG) was created to provide TTI customers a specialty semiconductor supply chain option formed in the ethical and hardworking spirit they are accustomed to from TTI and its subsidiaries. TSG joins TTI, Inc., Mouser Electronics and Sager Electronics in the TTI Family of Companies, giving purchasing communities and manufacturers a well-funded and well-known global distributor backed by the strength of Berkshire Hathaway.

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CONSTRUCTION

Sterling Acquires Petillo, an Industry Leading Specialty Site Development Company

Sterling | January 06, 2022

Sterling Construction Company, Inc. (NasdaqGS: STRL) (“Sterling” or “the Company”) entered into a Stock Purchase Agreement and closed on the acquisition of Petillo Incorporated and its related operating entities (collectively “Petillo”), on December 30, 2021. Petillo is a leading specialty site development solution provider in the Northeast and Mid-Atlantic. Founded in 1994 by owner and CEO Michael Petillo, Petillo has seen compound revenue growth from 2017 to 2021 of 29% through continued expansion of its geographic footprint “We are excited to welcome the Petillo team, its culture and capabilities into our E-infrastructure solutions sector,Their entrepreneurial spirit focused on delivering customer-centric solutions coupled with their geographic footprint will enable us to service our key blue-chip e-commerce customers up and down the entire East Coast with even more offerings than we had before. Petillo’s capabilities along with our current Plateau capabilities will not only create one of the largest specialty site development companies in the U.S. but will also add broader capabilities and service offerings to both end markets.” -Joe Cutillo, Sterling’s Chief Executive Officer The aggregate consideration of $195 million paid on the Closing Date (the “Base Purchase Price”) consisted of $175 million of cash and 759,447 shares of Sterling common shares valued at $20 million. Additionally, under the purchase agreement, upon the satisfaction of achieving the specified annual operating income growth thresholds, and certain other conditions, the sellers are entitled to earn-out payments not to exceed $20 million over the next five years. The Company also entered into a five-year employment agreement with Michael Petillo, which provides for five equal annual retention payments totaling $15 million. Effective December 29, 2021, Sterling entered into a Third Amendment to it’s Credit Agreement (the “Amendment”) which, among other provisions, increased the Company’s Existing Term Loans through a new incremental $140 million term loan with the same maturity as the Existing Term Loans to fund a portion of the Petillo acquisition. The Amendment was led by BMO Capital Markets Corp, as Joint Lead Arranger and Joint Book Runner, and BMO Harris Bank N.A., as Administrative Agent. The balance of the Base Purchase Price, together with acquisition related costs, was funded from Sterling’s cash balance. Stifel served as exclusive financial advisor and Jones Walker LLP served as legal advisor to Sterling on this transaction. About Sterling Sterling Construction Company, Inc. operates through a variety of subsidiaries within three segments specializing in Heavy Civil, Specialty Services and Residential projects in the United States (the “U.S.”), primarily across the southern U.S., the Rocky Mountain States, California and Hawaii, as well as other areas with strategic construction opportunities. Heavy Civil includes infrastructure and rehabilitation projects for highways, roads, bridges, airports, ports, light rail, water, wastewater and storm drainage systems. Specialty Services projects include site development activities, foundations for multi-family homes, parking structures and other commercial concrete projects. Residential projects include concrete foundations for single-family homes. From strategy to operations, we are committed to sustainability by operating responsibly to safeguard and improve society’s quality of life. Caring for our people and communities, our customers and our investors – that is The Sterling Way., customer base and service offerings. Petillo’s 2021 revenues and income from operations are expected to be approximately $212 million and $29 million, respectively.

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CONSTRUCTION

AECOM-led joint venture awarded contract with FEMA to improve community resilience

AECOM | February 15, 2022

AECOM (NYSE: ACM), the world’s trusted infrastructure consulting firm, announced the U.S. Department of Homeland Security’s Federal Emergency Management Agency (FEMA) has awarded the AECOM-led Compass Production and Technical Services Joint Venture (Compass PTS JV) a contract to provide production and technical architecture and engineering services for the Risk Mapping, Assessment and Planning (Risk MAP) Program. The indefinite delivery, indefinite quantity (IDIQ) contract has a combined program ceiling of $300 million for a one-year base period with four, one-year option years. “AECOM has supported FEMA for more than forty years leveraging the combined expertise of our world-class scientists, engineers, planners, and analysts, We’re honored to continue our partnership to promote informed planning and development practices that reduce flood risk and meet the needs of historically underserved and disadvantaged communities faced with severe threats from natural disasters.” -Lara Poloni, AECOM’s president. Under the new single-award contract, Compass PTS JV will deliver a wide range of services related to flood risk analyses, hazard mapping, disaster response, and risk reduction. In addition, AECOM will leverage its state-of-the-art engineering and mapping capabilities that allow for vast amounts of high-quality hyperlocal flood hazard and risk data and information at state-level scales. The contract comprises scope requirements that fall within FEMA Regions 4, 6, and 7, a geographic area characterized by the most severe and frequent river, coastal, and urban flooding in the nation, among other natural hazards. FEMA Region 4 states are Alabama, Florida, Georgia, Kentucky, Mississippi, North Carolina, South Carolina, Tennessee; FEMA Region 6 states are Arkansas, Louisiana, New Mexico, Oklahoma, Texas; and FEMA Region 7 states are Iowa, Kansas, Missouri, and Nebraska. “We’re excited that this new contract provides an opportunity for our team to support FEMA as we build on our successful completion of projects over the last seven years. Critical work is already underway with hundreds of our staff working under FEMA leaders to smoothly transition into the new structure, Along with our joint venture partners, AECOM is well positioned to support the bold vision and ambitious goals of the 2022-2026 FEMA Strategic Plan, which includes instilling equity in emergency management, leading whole communities in climate resilience, and promoting and sustaining a ready FEMA and prepared nation.” -Beverley Stinson, chief executive of AECOM’s global Water business. The Compass PTS JV is comprised of AECOM, ABS Group, CDM Federal Programs Corporation, Fugro, Halff Associates, T&M Associates, and numerous small business and specialty subconsultants. Its scope of work includes natural hazard analyses, risk assessments, building sciences expertise, and rapid response when disasters strike. About AECOM AECOM (NYSE: ACM) is the world’s trusted infrastructure consulting firm, delivering professional services throughout the project lifecycle – from planning, design and engineering to program and construction management. On projects spanning transportation, buildings, water, new energy, and the environment, our public- and private-sector clients trust us to solve their most complex challenges. Our teams are driven by a common purpose to deliver a better world through our unrivaled technical expertise and innovation, a culture of equity, diversity and inclusion, and a commitment to environmental, social and governance priorities. AECOM is a Fortune 500 firm and its Professional Services business had revenue of $13.3 billion in fiscal year 2021. See how we are delivering sustainable legacies for generations to come at aecom.com and @AECOM.

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