Setback
Venus Concept said it would cut 70 jobs, about 18% of its staff, and leave markets that lost money.
A delay, pause or setback · Company-reported
What the source says
“Venus Concept plans to cut 70 employees, equalling a reduction of approximately 18% of its global workforce”
What it means
ARTAS, from Venus Concept (formerly Restoration Robotics), is at stage 5 of 5 on our ladder: regulator-cleared or mass market. A setback stays on the record next to the milestones; the stage moves down only when the rules say so. This line rests on the company's own announcement; no regulator, customer or independent report confirms it in our sources yet.
Human help: Our sources report it working without human help.
More on ARTAS
- Venus Concept became fully owned by funds of investor Madryn Asset Management and is now a private company.
- Venus Concept said it would remove its shares from the Nasdaq stock market and stop filing reports with the SEC, to save costs during a turnaround.
- Shareholders of Restoration Robotics, the San Jose company behind ARTAS, approved its merger with aesthetics firm Venus Concept.
- Restoration Robotics got a CE mark to sell the ARTAS iX model in Europe.