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Medrobotics® Announces $25MM Venture Debt Investment Commitment from Western Technology Investment

June 14, 2018

RAYNHAM, Mass.--(BUSINESS WIRE)--Jun 14, 2018--Medrobotics Corp., a medical robotics company, today announced a $25 million venture debt investment commitment from Western Technology Investment (WTI). Medrobotics will use these funds to develop products and applications to allow surgeons to reach anatomy deeper in the digestive tract and to expand its manufacturing capabilities to meet growing demand.

Medrobotics markets the Flex ® Robotic System, the world’s first and only robotic surgical platform which provides Scarfree™ access to hard-to-reach anatomy in otolaryngology and colorectal procedures. Additionally, the Flex ® Robotic System was cleared for robot-assisted visualization in general surgical, gynecological and thoracic procedures in the United States. The Company is also pursuing expanded applications in other areas including transvaginal gynecologic procedures and single port abdominal applications in general surgery, urology and gynecology.

About Medrobotics

Medrobotics Corporation ( www.Medrobotics.com ) is a privately funded medical device company headquartered in Raynham, Massachusetts. It manufactures and markets the Flex ® Robotic System, the world’s first robotic surgical platform with a steerable and shapeable robotic scope. The Flex ® Robotic System offers surgeons the unique ability to navigate complex anatomy through a single, small entry point while operating in hard-to-reach anatomical locations that might otherwise be inaccessible with straight, rigid surgical tools. The Company’s vision is to provide more patients with access to Scarfree™ surgical options. Medrobotics received FDA clearances for the Flex ® Robotic System for ENT applications in July 2015 and for colorectal surgery in May 2017. The CE mark was issued in March 2014.

View source version on businesswire.com:https://www.businesswire.com/news/home/20180613006358/en/

CONTACT: Media:

For Medrobotics Corp.

Kevin Knight, 214-732-9392

kknightpr@gmail.com

KEYWORD: UNITED STATES NORTH AMERICA MASSACHUSETTS

INDUSTRY KEYWORD: SURGERY TECHNOLOGY OTHER TECHNOLOGY HEALTH BIOTECHNOLOGY MEDICAL DEVICES

SOURCE: Medrobotics Corp.

Copyright Business Wire 2018.

PUB: 06/14/2018 12:01 AM/DISC: 06/14/2018 12:01 AM

http://www.businesswire.com/news/home/20180613006358/en

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