A common theme in science fiction is that robots will eventually assume the role of human beings. As technology progresses, science fiction is becoming reality. For the past decade, Intuitive Surgical (NASDAQ: ISRG) has been creating robots that enable surgeons to perform complex operations with greater ease and precision.

Intuitive Surgical is the leader is robotics-assisted minimally invasive surgery. The company’s da Vinci surgical System, which was first introduced in 1999, became the first robotic surgical system cleared by the US food and Drug Administration for general laparoscopic surgery in 2000. The system is also used in thoracoscopic surgery, cardiac, urologic, gynecologic, pediatric and transoral otolaryngology procedures.

The da Vinci surgical system consists of four interactive robotic arms with attached surgical instruments and a console the surgeon operates remotely. The surgeon sits at the console and uses its endoscope in conjunction with magnified high-resolution 3D imaging for an optimal view of the surgical area. The surgeon’s hand motions are translated to the robotic arms performing the actual surgery, while naturally occurring hand tremors are filtered out by the robot’s software.

Upgrades to the system now allow for two surgeons to work collaboratively on a single operation. The robot uses one set of tools and can be continuously operated by surgical teams without having to exchange equipment—significantly streamlining the operating room set-up and turnover process by offering a simplified set-up and fewer pieces to coordinate.

The da Vinci surgical system boasts advantages such as precision, smaller incisions, decreased blood loss and quicker recovery times, consequently reducing the need for transfusions. These advantages also reduce the length and cost of hospitalizations.

Since it first shipped the da Vinci Surgical System, Intuitive Surgical has installed 1,840 units in more than 1,450 academic and community hospital sites, while continuing to grow revenue by at least 25 percent annually.

The company reported 64 percent net income growth to $381.8 million in 2010, while revenue grew 34 percent to $1.4 billion.

The company expects significant growth this year, as reported second-quarter revenue rose 21 percent year over year to $426 million. Revenue growth was driven by continued adoption of robotic procedures and higher sales for da Vinci Surgical Systems.

Instruments and accessories revenue increased 35 percent to $172 million in the second quarter driven by a roughly 30 percent increase in da Vinci procedures. Systems revenue increased 11 percent to $187 million and services revenue increased 22 percent to $68 million, reflecting the rapid growth in the installed base of da Vinci Systems.

The company’s balance sheet is also solid, ending the second quarter with $1.8 billion in cash, cash equivalents and investments. Intuitive Surgical recently expanded to a new $20 million manufacturing facility, which will allow the company to greatly increase production of its robotic arms.

At its current price of about $2 million a unit, da Vinci doesn’t come cheap. Hospitals that invest in the device tend to promote its use in procedures in order to recoup their investment. This ultimately helps the company generate even more revenue from maintenance and equipment fees.