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>> Leading Pediatric Hospital Chooses RIVA System for Safe and Efficient IV Preparation
>> IH Systems Announces $7.6 Million in Financing to Advance RIVA Pharmacy Automation Systems
>> Noted Pharmacy Expert Joins IH Systems Team
>> Children's Hospital of Orange County Chooses RIVA System for Safe and Efficient IV Preparation
>> IH Systems Names Richardson, Webster Mourant to Board of Directors
>> RIVA's Cutting Edge Technology a Good Fit for Banner Good Samaritan Medical Center
>> IH Systems Secures Funding to Manufacture Pharmacy Automation System
Leading Pediatric Hospital Chooses RIVA System for Safe and Efficient IV Preparation
October 31, 2007, Winnipeg, MB- Intelligent Hospital Systems (IH Systems) today announced that one of the world's leading pediatric hospitals has signed a contract to lease a RIVA (Robotic Intravenous Automation) systema self-contained unit for filling IV syringes and bags.
Kevin McGarry, Chief Executive Officer of IH Systems, believes RIVA's ability to safely and accurately fill IV syringes and bags is an important attribute for health care facilities seeking to ensure patient safety. "The Children's Hospital of Philadelphia is clearly a leader in pediatric pharmacy and we are thrilled to help them achieve their goals for patient care," he says. He continues, "Working with the smallest of critically ill patients and dispensing a wide range of products in very small doses, a pediatric hospital needs to have confidence in the system they choose to dispense required medications." McGarry points out the Children's Hospital of Philadelphia will be the first dedicated pediatric hospital to use a RIVA system to manage their production of both IV syringes and bags.
RIVA's flexibility and suitability for use in adult and pediatric facilities, coupled with its ability to safely process chemotherapy drugs, is driving increased interest in the system, according to Jane Arnot, Vice President of Corporate Strategy and Business Development for IH Systems. "Health care facilities across North America are recognizing the significant expected benefits for patient care from using the RIVA system, including reduced compounding risk, improved sterility and increased dose accuracy in their admixture pharmacies," she says. "We are seeing a great deal of interest in both pediatric and adult hospitals, and from infusion centers," she adds. Arnot says the first unit will be placed in March 2008.
RIVA (Robotic IV Automation System) -a self-contained unit for filling IV syringes and bags- is the first product developed by Winnipeg-based medical device company Intelligent Hospital Systems. For more information, please visit www.rivasystem.com.
For more information, please contact Jane Arnot, VP Corporate Strategy/Business Development at (204) 925-5343.
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IH Systems Announces $7.6 Million in Financing to Advance RIVA Pharmacy Automation System
Winnipeg, MB- October 31, 2007- Intelligent Hospital Systems (IH Systems), a Winnipeg-based medical device company, announced today it has secured $7.6 million of equity and debt financing. The financing will support the introduction of the company's RIVA (Robotic Intra Venous Automation) system - a selfcontained unit for filling IV syringes and bags to the North American hospital pharmacy market.
BDC Venture Capital took the lead with a $3 million investment. Other investors include the Western Life Sciences Venture Fund (WLS) with an investment of $1.0 million, and a group of investors assembled by Wellington West Capital, who together invested $1.1 million.
"We are extremely grateful for the support we have received from BDC Venture Capital, WLS and Wellington West," says Kevin McGarry, Chief Executive Officer of IH Systems. "This financing will allow IH Systems to complete development and manufacturing of RIVA and begin installation in several key U.S. hospital pharmacies in early 2008," he adds.
"Intelligent Hospital Systems is clearly representative of the dynamic and leading-edge technology companies in which BDC invests and we are pleased to have lead this round of financing," states Gary Bantle, Director BDC Venture Capital. "This venture capital investment represents a continued commitment of BDC to the Manitoba market and is evidence that growth in this sector continues to be strong," Bantle says.
The combination of excellent technology, a growth platform and recurring income potential of the RIVA system led to Wellington West's decision to support this round of financing. "We are delighted to support this dynamic, Manitoba-based company as it positions its product for the world stage," declares Brent Bottomley, Vice President of Corporate Finance with Wellington West.
The WLS Fund has been involved with the RIVA technology since the early days, according to Chief Financial Officer, Rob Davidson. "WLS was created to support very early stage developments on their path towards commercialization," he says, adding: "It is satisfying to see how far Manitoba-based technology can advance with the support of the local investment community."
About IH Systems
Intelligent Hospital Systems is a medical device company focused on the design and development of automated solutions for the hospital environment.
www.intelligenthospitals.com
About BDC Venture Capital
BDC Venture Capital is a major venture capital investor in Canada, active at every stage of a company's development cycle, from seed through expansion. Its focus is on technology-based businesses with high growth potential that are positioned to become dominant players in their markets. Established in 1975, BDC Venture Capital has invested in over 400 firms to date. It currently manages some $500 million in venture capital investments in the life sciences, telecommunications, information technology, and advanced technology sectors, as well as investments in funds. Visit www.bdc.ca for more information.
About Wellington West Capital
Wellington West Capital Inc. is one of Canada's leading independent financial management and investment advisory companies with 35 office locations across Canada.
www.wellwest.ca
About WLS Fund
The $45 million Western Life Sciences Venture Fund LP (WLS) was established to close the gap between research discoveries and the commercial application of those discoveries by providing financial, management and marketing support through the early and second stages of development.
www.lombardlifesciences.com/westernlifesciences
For more information, please contact:
Kevin McGarry
IH Systems
Phone: (204) 943-0066
KMcGarry@intelligenthospitals.com
Johanne Bissonnette
BDC
Phone: (514) 283-7929
johanne.bissonnette@bdc.ca
Brent Bottomley
Wellington West
Phone: (204) 925-2287
brentb@wellwest.ca
Rob Davidson
WLS Fund
Phone: (204) 943-0066
rdavidson@lombardlifesciences.com
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Noted Pharmacy Expert Joins IH Systems Team
Winnipeg, MB- August 8, 2007- International expert in handling hazardous drugs and IV admixture specialist, Luci Power, has joined Intelligent Hospital Systems (IH Systems) as a consultant for its RIVA System (Robotic Intravenous Automation)- a self-contained unit for filling IV syringes and bags. Ms. Power will provide technical guidance to health care facilities as they install and use their RIVA units. In addition to her work with RIVA customers across North America, Ms. Power will conduct research and will be rejoining the IH Systems Scientific Advisory Board (SAB).
After receiving her Bachelor of Science and Master of Science degrees from Northeastern University in Boston, Massachusetts, Ms. Power relocated to San Francisco, where she held progressively senior positions with the Department of Pharmaceutical Services at the University of California Medical Center (UCSF). Most recently, she served as Senior Pharmacist and Manager of the Parenteral Support Services at UCSF, where she implemented a USP 797 compliant facility for sterile compounding of Total Parenteral Nutrition (TPN) and Continuous Renal Replacement Therapy (CRRT) solutions. Ms. Power is the lead author of the 2006 American Society of Health System Pharmacists (ASHP) Guidelines on Handling Hazardous Drugs. She has authored several texts on compounding sterile preparations and preventing occupational exposure to hazardous drugs in the workplace including the ASHP Safe Handling of Hazardous Drugs Video Training Program DVD. In addition, she authored two ASHP technical assistance bulletins (TAB) on handling cytotoxic and hazardous drugs. Ms. Power is also an author of the 2004 National Institute for Occupational Safety and Health (NIOSH) Alert: Preventing Occupational Exposures to Antineoplastics and Other Hazardous Drugs in Health Care Settings.
The addition of Ms. Power to the team enhances IH Systems ability to provide leading edge technical support for RIVA, says Kevin McGarry, Chief Executive Officer of IH Systems. "Luci's expertise in cytotoxic IV preparation and appropriate handling will ensure health care facilities across North America can use all the capabilities of RIVA," he says. "From establishing and validating USP 797 compliant sterile compounding areas, to improving control over production and more efficiently managing inventory, RIVA is setting the benchmark in automated pharmacy technology," McGarry concludes.
RIVA (Robotic IV Automation System) -a self-contained unit for filling IV syringes and bags- is the first product developed by Winnipeg-based medical device company Intelligent Hospital Systems. For more information, please visit www.rivasystem.com.
For more information, please contact Kevin McGarry, Chief Executive Officer at (204) 943-0066.
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Children's Hospital of Orange County Chooses RIVA System for Safe and Efficient IV Preparation
May, 2007 - Winnipeg, MB - Children's Hospital of Orange County (CHOC) has signed a Letter of Intent to lease one RIVA (Robotic Intravenous Automation) system. RIVA is a self-contained unit for filling IV syringes and bags- from Intelligent Hospital Systems (IH Systems). Founded in 1964, CHOC provides inpatient, outpatient and emergency care to over 200,000 children annually in its state-of-the-art medical facilities.
Kevin McGarry, Chief Executive Officer of IH Systems believes RIVA's ability to safely and accurately fill IV syringes and bags is an important attribute for health care facilities seeking to ensure patient safety. "We welcome the opportunity to work with a health care facility like CHOC that has led the nation and even the world in the application of innovative therapies for children," he says.
For Rita Jew, CHOC's Executive Director of Pharmacy Services, the decision to choose RIVA was based on enhancing patient safety through improved sterility, reduced compounding risk and increased dose accuracy. "At CHOC, our mission is straightforward - to nurture, advance and protect the health and wellbeing of children. From prevention programs for healthy children to the most advanced medical care for those suffering from a serious illness, our commitment to fulfilling our mission means we are continually investing in innovative, effective solutions like RIVA," she says.
RIVA's suitability for use in adult and pediatric facilities, coupled with its ability to safely process chemotherapy drugs, is driving increased interest in the system, according to Jane Arnot, Vice President of Corporate Strategy and Business Development for RIVA. "Working with the smallest of critically ill patients, a pediatric hospital needs to have confidence in the system they choose to dispense required medications. CHOC joins an increasing number of health care facilities across the United States who have recognized the role RIVA plays in meeting their goals for patient safety in the preparation of IV syringes and bags," she says.
RIVA (Robotic IV Automation System) -a self-contained unit for filling IV syringes and bags- is the first product developed by Winnipeg-based medical device company Intelligent Hospital Systems. For more information, please visit www.rivasystem.com.
For more information, please contact Jane Arnot, VP Corporate Strategy and Business Development at (204) 925-5343.
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IH Systems Names Richardson, Webster Mourant to Board of Directors
Winnipeg, MB- April 11, 2007- Intelligent Hospital Systems (IH Systems), a Winnipeg-based medical device company, announced today that James A. Richardson and Fiona Webster Mourant have joined its Board of Directors. The directors will guide IH Systems in the manufacture and sale of its RIVA (Robotic Intra Venous Automation) product - a self-contained unit for filling IV syringes and bags.
Kevin McGarry, President and Chief Executive Officer of IH Systems, indicates the business and health care industry experience of the new Board members will greatly assist IH Systems evolution from product development to product manufacture. "The entrepreneurial acumen, experience with the commercialization of advanced technology and outstanding business track record of Mr. Richardson and Ms. Webster Mourant are a welcome addition to the IH Systems team," says McGarry. "With sales of our RIVA system expanding across North America, IH Systems is delighted to have such an experienced board in place to guide the execution of RIVA's product development and sales plan," he concludes.
Note to editors: Biographies of Mr. McGarry, Mr. Richardson and Ms. Webster Mourant are attached for background.
Intelligent Hospital Systems is a medical device company focused on the design and development of automated solutions for the hospital environment. For more information, please visit www.rivasystem.com.
For more information, please contact Kevin McGarry, President and CEO at (204) 943-0066.
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RIVA's Cutting Edge Technology a Good Fit for Banner Good Samaritan Medical Center
February 8, 2007, Winnipeg, MB- Banner Good Samaritan Medical Center in Phoenix, Arizona has signed a Letter of Intent to lease a RIVA System (Robotic IV Automation)- a self-contained unit for filling IV syringes and bags- from Intelligent Hospital Systems (IH Systems). A flagship hospital within Banner Health, 1,700 physicians from 50 specialities care for more than 36,000 inpatients a year at the Centre.
Kevin McGarry, Chief Executive Officer of IH Systems notes that the Banner Good Samaritan team relies on cutting edge technologies in the care of their patients. "Banner Good Samaritan is recognized across the south western United States for their comprehensive approach to patient care. We are delighted they have recognized the role RIVA will play in helping them meet their goals for the safe and efficient preparation of IV admixtures," he says. McGarry comments that Banner Good Samaritan's commitment to offering highly specialized programs including cancer care, transplantation, and high-risk obstetrics makes RIVA's precision and reliability a great fit for the facility.
According to Jane Arnot, Vice President of Corporate Strategy and Business Development for RIVA, the Letter of Intent with Banner Good Samaritan demonstrates the versatility RIVA offers for health care facilities seeking to address patient safety through automation. "Banner Good Samaritan is demonstrating their ongoing commitment to improving patient safety while providing complex patient care," says Arnot.
RIVA (Robotic IV Automation System) -a self-contained unit for filling IV syringes and bags- is the first product developed by Winnipeg-based medical device company Intelligent Hospital Systems. For more information, please visit www.rivasystem.com.
For more information, please contact Jane Arnot, VP Business Development at (204) 925-5343.
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IH Systems Secures Funding to Manufacture Pharmacy Automation System
Winnipeg, MB- January 9, 2007- Intelligent Hospital Systems (IH Systems), a Winnipeg-based medical device company, announced today it has secured $4 million in private funding, with a commitment for a further $2 million in mezzanine debt. The funding will be used to build a current Good Manufacturing Practice (cGMP) facility for the manufacture of the company's RIVA (Robotic Intra Venous Automation) product - a selfcontained unit for filling IV syringes and bags. The new 15,000 square foot facility will open in April of this year in the Tuxedo Business Park in Winnipeg, Manitoba.
Kevin McGarry, President and Chief Executive Officer of IH Systems, indicates the successful execution to date of RIVA's product development and sales plan was instrumental in securing the additional funding. "We are delighted by this affirmation of investor confidence in our company and, in particular, RIVA as our first product." McGarry says the offering was significantly over-subscribed, which he attributes to investor awareness of the demand for RIVA within the North American hospital pharmacy community. He continues, "This funding ensures we are well - capitalized to deliver the next phase of our product plan."
By the end of Q1 of 2007, IH Systems will complete the engineering verification and testing phases for RIVA, marking the company's transition from product development to product manufacture.
Intelligent Hospital Systems is a medical device company focused on the design and development of automated solutions for the hospital environment. For more information, please visit www.rivasystem.com.
For more information, please contact:
Kevin McGarry
President and CEO
Phone: (204) 943-0066
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