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Health Robotics Announces $60M Investment by Devon International Group and ITOCHU Inc. in the CytoCare(TM) and i.v.Station(TM PENDING) Robots
Date:11/21/2008

BOZEN, Italy, November 21 /PRNewswire/ -- Health Robotics today announced that it has signed a definitive agreement with Devon International Group (DIG) and its strategic partner ITOCHU International, Inc., whereby DIG and ITOCHU have acquired the exclusive rights to manufacture, market, sub-license, implement, interface, and support Health Robotics' robots in the United States, Canada, Mexico, and the Caribbean Islands. CytoCare(TM) is the world's first and only automated robotic system for the safe preparation of hazardous, patient-specific chemotherapy medications. Originally developed for Oncology Pharmacy, CytoCare(TM) can now also produce Monoclonal Antibodies Therapy IV Admixtures to treat patients with Crohn's disease, Organ Transplants, Multiple Sclerosis, Rheumatoid Arthritis, and Infectious Diseases.

DIG and ITOCHU, a Global Fortune 500 company, will invest $60 million in Health Robotics' products and will immediately take over Health Robotics' existing North American customers and employees. In addition, DIG has signed a definitive agreement to acquire a 13.33% equity stake in Health Robotics, whereby DIG's President and CEO Dr. John A. Bennett will join the board of Health Robotics in December 2008. DIG also acquired exclusive rights to Health Robotics' i.v.Station(TM)pending, an automated robotic solution for non-hazardous IV Admixtures to be demonstrated at the upcoming ASHP Midyear Clinical Meeting at Exhibition, December 7-11 in Orlando. Florida. A new subsidiary, Devon Robotics, will soon be announced by DIG with the purpose to house Health Robotics' U.S. operations. DIG will also execute sales activities with MedSurg Specialty Devices, a subsidiary of ITOCHU, and will seek strategic healthcare partnerships with other key North American companies to optimize the manufacturing, marketing, delivery, implementation, and support of Health Robotics' products throughout North America.

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