8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

_________________

FORM 8-K

_________________

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

December 17, 2020
Date of Report (date of earliest event reported)

_________________

TransEnterix, Inc.

(Exact name of Registrant as specified in its charter)

_________________

Delaware (State or other jurisdiction of incorporation or organization) 0-19437 (Commission File Number) 11-2962080 (I.R.S. Employer
Identification Number)

635 Davis Drive, Suite 300
Morrisville, North Carolina 27560
(Address of principal executive offices)

919-765-8400
(Registrant’s telephone number, including area code)

Not Applicable
(Former name or former address, if changed since last report)

_________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading symbol	Name of each exchange on which registered
Common Stock $0.001 par value per share	TRXC	NYSE American

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01 Other Events.

On December 17, 2020, TransEnterix, Inc., a Delaware corporation, issued a press release to announce that Southern Surgical Hospital has entered into an agreement to lease and utilize a Senhance® Surgical System.

A copy of the press release is filed herewith as Exhibit 99.1 and incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibit

Exhibit No. Description                                                                                   

99.1 Press release dated December 17, 2020

104 Cover Page Interactive Data File (formatted in inline XBRL)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	TRANSENTERIX, INC.
Date: December 17, 2020	/s/ Shameze Rampertab
	Shameze Rampertab
	Executive Vice President and Chief Financial Officer

2

EX-99.1

Exhibit 99.1

TransEnterix Announces Southern Surgical Hospital to Initiate a Senhance® Digital Laparoscopic Program

Represents the Third Senhance Surgical Program Initiated in Louisiana

RESEARCH TRIANGLE PARK, N.C.--(BUSINESS WIRE)--December 17, 2020-- TransEnterix, Inc. (NYSE American:TRXC), a medical device company that is digitizing the interface between the surgeon and the patient to improve minimally invasive surgery, today announced that Southern Surgical Hospital has entered into an agreement to lease and utilize a Senhance® Surgical System.

“We are pleased to support Southern Surgical Hospital in advancing care with the addition of the Senhance Surgical System,” said Anthony Fernando, President and Chief Executive Officer at TransEnterix. “Hospitals throughout the world, and the US, remain interested in advancing minimally invasive surgery with digital assistance while managing health care costs and resources. This Senhance digital laparoscopic program will be a good complement to their outpatient minimally invasive surgical care initiatives for their surgeons and patients.

Southern Surgical Hospital is located in Slidell, Louisiana and provides in-patient and out-patient surgical procedures in the southeast Louisiana area. Established 15 years ago, Southern Surgical Hospital is a partnership with local physicians and has a CMS 5-star rating along with a Becker’s “Top-rated hospital for patient experience” in Louisiana distinction.

“We remain committed to utilizing advanced technology to offer our patients the best possible surgical experience,” said Dr. James Redmann, general and bariatric surgeon and Director of Bariatrics at Southern Surgical Hospital. “Digital assistance in surgery is exciting because it can enable surgeons with better vision, precision, and augmented intelligence capabilities that ultimately translate to a great surgical experience for our patients. Our surgeons are looking forward to being a part of creating this future with programs such as this one with Senhance.”

“Our team is excited to add new technologies to our already excellent minimally invasive surgery program,” said Michael Pisciotta, Chief Executive Officer of Southern Surgical Hospital. “Our goal is to partner with innovative physicians to offer patients the very best in outpatient, minimally invasive surgical care. The addition of the Senhance System is part of our commitment to utilize advanced technology to best serve our patients and community.”

The Senhance System is the first new abdominal robotic surgery platform to receive FDA clearance since 2000. It is the first and only digital laparoscopic surgical platform designed to maintain laparoscopic minimally invasive surgical standards while providing digital benefits such as haptic feedback, robotic precision, comfortable ergonomics, advanced instrumentation including 3 mm microlaparoscopic instruments, eye-sensing camera control, and reusable standard instruments to help maintain per-procedure costs similar to traditional laparoscopy. TransEnterix recently launched the first machine vision system in robotic surgery. This first-of-its-kind augmented intelligence capability is powered by the new Intelligent Surgical Unit™ on the Senhance Surgical System.

About TransEnterix

At TransEnterix, Inc., we are digitizing the interface between the surgeon and the patient to improve minimally invasive surgery (MIS) through a new category of care called Digital Laparoscopy. Digitizing the interface enables the use of advanced capabilities like augmented intelligence, connectivity and robotics in laparoscopy, and allows us to address the current clinical, cognitive and economic shortcomings in surgery. The system features the first machine vision system for use in robotic surgery which is powered by the new Intelligent Surgical Unit™ (ISU™) that enables augmented intelligence in surgery. The Senhance Surgical System brings the benefits of Digital Laparoscopy to patients around the world while staying true to the principles of value-based healthcare. Learn more about Digital Laparoscopy with the Senhance Surgical System here: https://Senhance.com/. Now available for sale in the US, the EU, Japan, and select other countries. For a complete list of indications for use, please visit: https://www.transenterix.com/indications-for-use/.

Forward-Looking Statements

This press release includes statements relating to the Senhance System and Southern Surgical Hospital initiating a program with the Senhance System. These statements and other statements regarding our future plans and goals constitute "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. Such statements are subject to risks and uncertainties that are often difficult to predict, are beyond our control and which may cause results to differ materially from expectations and include whether the Senhance System will be part of advancing care at Southern Surgical Hospital, whether the Senhance System will be a good compliment to Southern Surgical Hospital’s outpatient minimally invasive surgical care initiatives for their surgeons and patients and whether the Senhance System will enable surgeons with better vision, precision and augmented intelligence capabilities that can translate to a great surgical experience. For a discussion of the risks and uncertainties associated with TransEnterix's business, please review our filings with the Securities and Exchange Commission (SEC), including our Annual Report on Form 10-K for the year ended December 31, 2019, filed with the SEC on March 16, 2020 and our other filings we make with the SEC. You are cautioned not to place undue reliance on these forward looking statements, which are based on our expectations as of the date of this press release and speak only as of the origination date of this press release. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Source: TransEnterix, Inc.

For TransEnterix, Inc.

Investor Contact:

Mark Klausner, +1 443-213-0501

invest@transenterix.com

or

Media Contact:

Terri Clevenger, +1 203-682-8297

terri.clevenger@icrinc.com

XML

Document And Entity Information	Dec. 17, 2020
Document Information [Line Items]
Entity, Registrant Name	TransEnterix, Inc.
Document, Type	8-K
Document, Period End Date	Dec. 17, 2020
Entity, Incorporation, State or Country Code	DE
Entity, File Number	0-19437
Entity, Tax Identification Number	11-2962080
Entity, Address, Address Line One	635 Davis Drive
Entity, Address, Address Line Two	Suite 300
Entity, Address, City or Town	Morrisville
Entity, Address, State or Province	NC
Entity, Address, Postal Zip Code	27560
City Area Code	919
Local Phone Number	765-8400
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock
Trading Symbol	TRXC
Security Exchange Name	NYSE
Entity, Emerging Growth Company	false
Amendment Flag	false
Entity, Central Index Key	0000876378