Health Robotics reported today that it had signed in November and December of 2012 two long-term contract extensions of its exclusive partnership with Tosho Inc., including a substantial expansion of Tosho's control over the robotic software and hardware components of Health Robotics' developed medical devices, and the technology transfer of Sterile Compounding Robot manufacturing to Japan.
Yoshihito Omura , CEO of Tosho Inc. stated: "Now that we have gathered sufficient technical and market expertise with Health Robotics' developed products, the time has come to give Japanese customers what they have been requesting for so long: a local IV Robot manufacturer that can continue our proud Robotics traditions, and especially the cultural affinity of the Japanese market for the use of Robotics. This represents a tremendous competitive advantage for Tosho and Health Robotics in Japan over the alternative of importing foreign-manufactured IV robots".
This is another testament of the fact that when Health Robotics finds a real and willing partner in a local market, the company always finds a way to establish long-term, successful, and balanced partnerships with third parties. Health Robotics had already attempted on multiple occasions over the past few years the potential global diversification of its manufacturing and/or final-assembly plants with some of its prior distributors such as Devon in China, and HRNA and McKesson in the USA, which unfortunately ended with some of these companies trying unsuccessful hostile takeover attempts, and Health Robotics winning dismissals of all court actions. Health Robotics' global expansion and long-term renewal of its exclusive partnership with Tosho will now put to rest the need for an Asia-Pacific factory.
Gaspar DeViedma, Health Robotics' Executive Vice President and Board Member, stated: "These expanded contracts represent a win-win scenario for both Health Robotics and Tosho, which was necessary due to the global expansion of Health Robotics to over 300 installations, the company achieving 80% global market share of all IV robots installed [including over 90% of Oncology Robots sales], and the need for alternate manufacturing locations to cope with its projected growth over the next decade. Additionally, ceding control to Tosho over Japanese' made IV consumables already supported by our Robots (such as Terumo, Hikari, and Otsuka needles, IV Bags, syringes, and IV Bottles) will result in a competitive advantage for both Health Robotics and Tosho. Separately, Health Robotics has already begun its own plans to search for an additional factory and/or final-assembly location in the USA or Canada, where it hopes to soon be able to offer its products in the NAFTA market at even more competitive prices than before."