Equity X-Ray: In-Depth Research #28
The Future of Precision Robotics for Better Men’s Health
Company Overview: Revolutionary Technology Solving a Massive Problem
One in two men between 51 and 60 suffers from benign prostatic hyperplasia.
For decades, they’ve faced an impossible choice: live with worsening symptoms, take medications with serious side effects, or undergo surgery that often causes incontinence and erectile dysfunction.
PROCEPT BioRobotics has eliminated that trade-off.
The company’s Aquablation therapy uses a precisely calibrated, heat-free waterjet to treat benign prostatic hyperplasia. The prevalence only increases with age, and with the population of men over 65 expected to double by 2060, the demographic tailwinds are undeniable.
What makes Aquablation special is how it solves a fundamental problem that has plagued BPH treatment for decades. Traditional surgical options like transurethral resection of the prostate, or TURP, deliver strong symptom relief but come with significant risks of irreversible complications, including incontinence, erectile dysfunction, and ejaculatory dysfunction. On the other end of the spectrum, minimally invasive procedures offer better safety profiles but often lack durability, with patients frequently requiring retreatment.
Aquablation sits in the sweet spot, delivering resective-level efficacy with a complication profile closer to non-resective procedures.
This article answers six questions:
What problem the company actually solves.
What management is building and where the CEO is taking the business.
Why this matters now, not eventually.
Where conviction is high, and where it isn’t.
What could break the thesis.
What the business is worth under conservative assumptions.
Our last Deep Dives:
Using real-time ultrasound imaging combined with cystoscopy, surgeons can visualize the entire prostate in three dimensions, something impossible with traditional approaches that rely solely on cystoscopic visualization.
The HYDROS Robotic System, launched in 2024, takes this further with AI-powered treatment planning that automatically detects instruments and recognizes anatomy. The waterjet resection is heat-free, which matters enormously because thermal injury from lasers can cause variable tissue penetration, necrosis extending beyond the treatment cavity, and potential damage to the nerve bundles responsible for erectile function. The precision of the waterjet eliminates these concerns.
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