Why Is Restoration Robotics, Inc Being Sued
Restoration Robotics, Inc is the company that manufactures the Artas Hair Restoration Robotic Device, the company's initial public offering (IPO) commenced on October 12, 2017, and closed on October 16, 2017. The class action lawsuit has been filed to recover alleged damages caused by the defendants (Restoration Robotics, Inc). The class action lawsuit claims that contrary to the representations made by Restoration Robotics, Inc the company was not equipped with an adequate salesforce to grow the company and business. Since the IPO, the company's common stock has traded down at a 50% discount to the $7.00 IPO price.
What Does This Mean For Artas In the Future?
While the class action lawsuit may contain some unhappy investors, the Artas robotic device still continues to be used by many hair restoration surgeons. Unfortunately, this may delay improvements to the Artas robotic device for a significant amount of time, which can raise some concerns for doctors and patients alike. With that said, the vast majority of physicians who practice FUE hair transplant surgery regularly continue to use manual and motorized punches as opposed to robotic devices.
Like anything in life, the success of a tool, device or machine depends on the individual using or operating it. If the individual using the tool is not experienced or skilled the tool or device will fail and this can be applied directly to hair restoration. Currently, the majority of hair transplant surgeons feel more comfortable performing the extractions by hand rather than using a robotic device to do it for them. The future is unknown, but it is a possibility that robotic hair restoration may become prevalent in the future.