AVRA Medical Robotics, Inc. (OTC: AVMR) PROVIDES UPDATE ON MERGER
ORLANDO, FL, Dec. 14, 2022 (GLOBE NEWSWIRE) -- AVRA Medical Robotics, Inc. (“AVRA” or “the Company”) (OTC: AVMR), a medical robotics software and artificial intelligence company announced that it is continuing to progress to consummation of its acquisition by merger of CardioVentures, Inc. (“CardioVentures”), as previously reported in its Current Report on Form 8-K filed with the SEC on November 7, 2022.
CardioVentures holds an indirect controlling interest in an Indian private limited company (“SSI-India”). SSI-India is engaged in the development, commercialization, manufacturing, and sale of medical and surgical robotic systems utilizing patents, trademarks and other intellectual property. It has received full clinical approval by the Indian regulatory bodies and is now able to accept and deliver orders for its Mantra surgical robotic system within India and in over 54 other countries. With what the Company believes are superior functionality and ergonomics, the Mantra 2 can cost up to one half less than its direct competitors’ systems. Initial deliveries started in August 2022 in Delhi at the Rajiv Gandhi Cancer Institute and Research Center and the Mantra 2 System is now operating in 3 hospitals. SSI-India plans to begin seeking US FDA and European CE regulatory approvals in early 2023. The Mantra 2 System is a soft tissue based surgical robotic system, which the Company believes has broad applications in Urology, Gynecology, Thoracic, Head, Neck and General Surgery. Moreover, we anticipate that the system will be the first of its kind to be specifically tailored to assist in the performance of all complex cardiac surgical procedures.
Upon consummation of the merger, the Company will change its name to SS Innovations International, Inc. and the stockholders of CardioVentures will become the controlling shareholders of the Company. Post – Merger, we intend to focus a significant part of our efforts on expanding and further developing the business of SSI-India, which will be an indirect majority-owned subsidiary of the Company.
About AVRA Medical Robotics
AVRA Medical Robotics, Inc., (OTC: AVMR) is a medical software and artificial intelligence company building a fully autonomous medical robotic system combining artificial intelligence, machine learning and proprietary software.
It is empowering doctors and the practice of surgery through the use of software and artificial intelligence.
AVRA is concentrating its research and development efforts to meet the rising expectations of patients and practitioners for the precision, efficiencies and safety offered by robotics, artificial intelligence and proprietary software when combined with proven medical devices and surgical instruments.
For more information visit AVRA’s website at .
Forward-Looking Statements
This press release may contain statements that are not historical facts and are considered forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. The words “anticipate,” “assume,” “believe,” “estimate,” “expect,” “will,” “intend,” “may,” “plan,” “project,” “should,” “could,” “seek,” “designed,” “potential,” “forecast,” “target,” “objective,” “goal,” or the negatives of such terms or other similar expressions to identify such forward-looking statements. These statements relate to future events or AVRA’s future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.
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