Investment in Aethon

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31-Mar-2010

Aethon, Inc. announces a strategic cooperation with the Bosch Group, a leading global supplier of technology and services. Financing, led by Robert Bosch Venture Capital GmbH, raises $6.6M

March 31, 2010 ; PITTSBURGH, PA ; Aethon, Inc., the leading developer of mobile robotics for hospital supply chain logistics, is pleased to announce a partnership with the Bosch Group that includes an investment of $5 million through its venture arm, Robert Bosch Venture Capital GmbH (“RBVC”). Along with additional contributions from its existing investors, Aethon brought in a total of $6.6 million in new capital to fuel its growth through sales expansion and new product development. Aethon has grown significantly since its launch into the commercial market in 2005 with TUG robotic systems now providing multi-department logistic delivery solutions for more than 100 hospitals nationwide.

After an extensive worldwide research of mobile robotics and automation solutions, RBVC recognized that Aethon’s innovative technology is uniquely addressing some of the fundamental issues associated with lowering health care costs and increasing productivity through greater optimization of logistic processes.

“This is a significant milestone for our company,” said Aldo Zini, Aethon president and chief executive officer. “Aethon’s progress has been a result of a strong management team, great technology, and customers who are realizing the value of automating their supply chain logistics with Aethon’s solutions. We are pleased to be able to attract a new strategic partner such as Bosch to our company. The validation of our technology by Bosch will certainly bring more global attention to our business. In addition, Bosch has agreed to assist us with their world-leading engineering expertise as we continue to add new product extensions, grow our production capabilities, and look for opportunities to embed our technology in the global healthcare marketplace. There may be other areas of business expansion as well given Bosch’s extensive business relationships both in Europe and worldwide.”

This funding ultimately supports Aethon’s goal of continued business growth, accelerated sales, and intensified research and development efforts on new products and product extensions. “We are now positioning Aethon for a greater acceleration of growth,” added Zini. “This additional capital will help us to build out our infrastructure and recruit additional top talent to support an expanding customer base.”

“We are pleased to have the opportunity to invest in a company like Aethon with its outstanding experience in the field of autonomous robot systems and its dynamic management team who has shown the dedication necessary to properly grow the company,” explained Claus Schmidt, managing director of RBVC. “Aethon’s unique technology has extraordinary potential about which customers are genuinely enthusiastic.”

Existing investors also reinforced the vote of confidence for Aethon by electing to participate in the funding. RBVC joined existing venture capital groups Trident Capital, Pacific Venture Group, Salix Ventures, Ascension Health Ventures, Radius Ventures, Nexus Medical Partners, and Medicis Capital GmbH.

About Aethon

Based in Pittsburgh, PA, Aethon is a leader in healthcare Supply Chain Logistics and Workflow Solutions, providing a broad range of departmental and hospital-wide applications that automate the movement of goods (such as medications, supplies, meals, equipment, etc.), improve asset utilization, and ensure regulatory compliance. Aethon delivers its solutions through a proprietary autonomous mobile robot, the TUG®, which reduces cost, enhances clinical productivity, improves workflow, and allows clinicians to focus more time on what matters most in patient care: the human touch. TUGs have demonstrated ROIs in the 20 to 50 percent range, while improving nurse and patient satisfaction. More than 100 hospitals nationwide have deployed Aethon’s technology.

Contact

Aldo Zini, AETHON, Inc.

Telephone: (412) 322-2975

Send E-mail

www.aethon.com