|[January 09, 2014]
Healthcare Logistics Solution Provider Aethon Announces Follow-on Investment from Mitsui & Co. (U.S.A.), Inc.
PITTSBURGH --(Business Wire)--
the premier developer of autonomous mobile robots for hospitals and
health systems announced today that it received a $3.0 million
investment from Mitsui
& Co. (U.S.A.), Inc. ("Mitsui USA"), a wholly owned subsidiary
of Mitsui & Co., Ltd., a leading international trade and investment
company. This augments Mitsui USA's initial $4.0 million growth capital
investment in Aethon in April 2012.
Mitsui USA's additional investment will provide funds to support
Aethon's planned expansion of its US-based sales force as well as
increased marketing efforts. In addition, the funding will allow Aethon
to increase its business development efforts in foreign markets assisted
by Mitsui's extensive relationships and contacts in markets worldwide.
"Mitsui USA's add-on investment is a sign of their confidence in the
worldwide interest for Aethon's solutions both in healthcare logistics
and the potential for applications outside of healthcare," said Aethon
President and CEO Aldo Zini. "We have an opportunity to grow the company
rapidly and this additional investment provides the resources necessary
to accelerate our growth."
Aethon has grown significantly since its launch into the commercial
market in 2004 with its smart autonomous mobile TUG®
robots, over 400 of which are currently making more than 50,000
deliveries each week in hospitals across the country. Hospitals rely on
TUGs to transport medication, meals, linen, equipment and supplies more
safely, securely and promptly.
"Mitsui USA's decision to increase its investment in Aethon was based on
the company's immediate opportunity for growth and longer term market
potential. Their products are proven and Aethon is a nimble organization
poised to take advantage of emerging opportunities," said Shigeyuki
Toya, General Manager of Mitsui USA's New Business Development
Department. "We anticipate substantial growth in healthcare robotics
over the next five years, and continue to expect Aethon to be at the
forefront of that movement."
In addition to Mitsui USA, Aethon has previously received investment
funding from the Bosch Group and some of the nation's largest venture
capital firms including Trident (News - Alert) Capital, a key investor in many
successful robotic and technology companies. Aethon's solutions
represent efficiency and improved utilization of the clinical workers in
a hospital. These are benefits sought after by hospitals worldwide as
every healthcare system faces the same pressures of controlling costs
and increasing availability of clinical staff for direct patient care.
Aethon automates Intralogistics™ in hospitals by delivering goods and
supplies using its TUG®
smart autonomous mobile robot and tracks deliveries in real time
a software system used to track medication deliveries from the pharmacy.
Over 400 TUG autonomous mobile robots are making more than 50,000
deliveries each week in hospitals across the United States. For more
information, visit www.aethon.com.
About Mitsui & Co. (U.S.A.), Inc.
Mitsui USA was incorporated in 1966 in New York as a wholly owned
subsidiary of Mitsui & Co., Ltd., Tokyo, Japan, one of the most
diversified and comprehensive trading, investment and service
enterprises in the world, with 147 offices in 67 countries as of
November 1, 2013. Mitsui is multilaterally pursuing business that range
from product sales, worldwide logistics and financing, through to the
development of major international infrastructure and other projects in
the following fields: Iron & Steel Products, Mineral & Metal Resources,
Infrastructure Projects, Integrated Transportation Systems, Chemicals,
Energy, Food Resources, Food Products & Services, Consumer Service, and
Innovation & Corporate Development. Mitsui USA aspires to meet the needs
of its customers as "Your Global Business Partner®", while remaining
committed to sustainable growth and good corporate citizenship. More
information on Mitsui USA may be found at www.mitsui.com/us.
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