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

Company Plans to Drive Additional Growth by Extending the Reach of
the Flex
® Robotic System and Expanding its
Manufacturing Capacity

RAYNHAM, Mass.–(BUSINESS WIRE)–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.

Contacts

Media:
For Medrobotics Corp.
Kevin Knight, 214-732-9392
kknightpr@gmail.com