Amid a nationwide shortage of pharmacy staff, the company is addressing critical healthcare facility challenges by automating the safe and secure delivery of medications

LAS VEGAS, May 14, 2024 (GLOBE NEWSWIRE) -- – Richtech Robotics Inc. (Nasdaq: RR) ("Richtech Robotics"), a Nevada company and a provider of AI-driven service robots, today announces the launch of its latest robot: Medbot, an elevator delivery robot designed to streamline pharmacy operations with uninterrupted, 24/7 medications delivery. With high operational accuracy, Medbot improves healthcare facility efficiency with a secure delivery, reducing operating costs and improving the overall patient experience. Medbot furthers Richtech Robotics' mission of providing high-quality, stable robots to boost employee morale and improve customers' bottom line.

"At Richtech Robotics, we're passionate about pioneering solutions to mitigate workplace inefficiencies and build systems that address relevant industry concerns," said Matt Casella, President of Richtech Robotics. "With a track record of success across the hospitality and service sectors, adapting our products to enhance conditions for the healthcare workforce and infrastructure was a natural progression for us. Finding a way to offload routine daily tasks for healthcare workers has been a pain point for many years, and we're excited to launch an innovative solution to help hospitals gain a competitive edge."

The launch of Medbot comes as the healthcare industry faces a concerning dearth of pharmacy staff. With Medbot, hospitals and clinics can automate medication deliveries with reliable, secure and uninterrupted service. Medbot can work up to 24 hours – and 10 hours continuously – making discreet deliveries to patients with high accuracy. In turn, this allows pharmacy technicians to stay stationed in the pharmacy for more important value-add tasks, rather than menial delivery tasks.

Additional product features include:

• Elevator integration: Ensures reliable, smooth operation across complex spaces.
• Four storage spaces: Holds up to 3.17 gallons each and can be opened one at a time if desired.
• Smooth delivery: Works across versatile flooring, helping navigate dense crowds or cluttered spaces.
• Large touchscreen display: Enables user-friendly, easy delivery scheduling management and real-time visibility.
• Ultrasonic sensors (8) and cameras (2): Provides heightened obstacle detection and avoidance.
• IoT enablement: Exchanges data with other devices and systems (e.g. smart doors).

To date, Medbot's installations have a proven 100% delivery success rate. Medbots have been used in pharmacy to in-patient units and emergency departments, chemotherapy preparations to infusion centers, pharmacy-to-pharmacy/intra-pharmacy transport, and "meds-to-beds" discharge medications from outpatient pharmacy to the patient's nurse.

"Amid rising operating expenses and a surge in patient numbers across the country, Medbot strives to empower healthcare facilities with superior care, despite staffing shortages. Our Medbot integration method is the only one on the market that has been proven to consistently work," said Casella.

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About Richtech Robotics

Richtech Robotics is a provider of collaborative robotic solutions specializing in the service industry, including the hospitality and healthcare sectors. Our mission is to transform the service industry through collaborative robotic solutions that enhance the customer experience and empower businesses to achieve more. By seamlessly integrating cutting-edge automation, we aspire to create a landscape of enhanced interactions, efficiency, and innovation, propelling organizations toward unparalleled levels of excellence and satisfaction.

Forward Looking Statements

Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words such as "anticipate," "believe," "forecast," "estimate," "expect," and "intend," among others. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties.

These forward-looking statements are based on Richtech Robotics' current expectations and actual results could differ materially. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to, Medbot's ability to streamline healthcare facility operations, reduce operating costs, improve overall patient experience, and maintain its delivery success rate. Investors should read the risk factors set forth in Richtech Robotics' Annual Report on Form 10-K, filed with the Securities and Exchange Commission (the "SEC") on January 11, 2024 and periodic reports filed with the SEC on or after the date thereof. All of Richtech Robotics' forward-looking statements are expressly qualified by all such risk factors and other cautionary statements. The information set forth herein speaks only as of the date thereof. New risks and uncertainties arise over time, and it is not possible for Richtech Robotic to predict those events or how they may affect Richtech Robotics. If a change to the events and circumstances reflected in Richtech Robotics' forward-looking statements occurs, Richtech Robotics' business, financial condition and operating results may vary materially from those expressed in Richtech Robotics' forward-looking statements.

Readers are cautioned not to put undue reliance on forward-looking statements, and Richtech Robotics assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.

Contact

Investors:
CORE IR
Matt Blazei
ir@richtechrobotics.com

Media:
Timothy Tanksley
Director of Marketing
Richtech Robotics, Inc
press@richtechrobotics.com
702-534-0050

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