iRobot Corporation (IRBT)

[MasterBidder]

Nobody likes a POS basher.

MB

[canaryincoalmine]

Uuuuum,what point???

[faxedreceipts]

What's new with iRobot for 2013? Video:

http://video.foxnews.com/v/2080859147001/whats-new-with-irobot-for-2013/

[MasterBidder]

I know, was just making a point.

[faxedreceipts]

The company is increasing shareholder value by buying back their stock. In addition, they picked up a 14 million military contract, and their home robotics division is doing very well. I don't see where pump and dump has anything to do with IRBT. A great long term hold imo.

[MasterBidder]

Pump and dump buyer beware.

[Toxic Avenger]

I think you're right. I did a quick flip after buying during the last crash of iRBT, the was lucky enough to buy back in the low 20s on the same day I sold . I'm looking for mid 20s in the short term and eventually to $30 and beyond.

[faxedreceipts]

Any military business is icing on the cake considering the fast conversion from a company that relied on military sales to a huge increase in home robotics.

The company is buying up its shares and growing the business. All good signs. iRobot is setting itself up to return to all time highs imo.

[Toxic Avenger]

Impressive. Any help we can give our men and women in uniform is worth exploring IMHO.

I applaud iRobot !

[faxedreceipts]

iRobot to deliver rugged, throwable FirstLook robot to Army

By Defense Systems StaffMar 01, 2013

The Army has awarded a $14.4 million contract to iRobot to furnish a rugged, throwable robot designed for combat missions and special operations.

Under the contract, the company will deliver the FirstLook robot system, spare part kits and robotic accessories, DOD said.
The FirstLook robotic system is designed to give soldiers immediate situational awareness and persistent observation for up to six hours, according to the company.

The robot weighs about five pounds and is 10 inches long, 9 inches wide, and 4 inches tall. Because of its small size, it is well suited to investigate confined spaces.

The robot uses infrared illumination to enhance low light and no light operations.

The FirstLook Robot is designed for a wide range of missions, such as building clearing, raids and other close-in situations, according to the company.

The company will perform the work, which is scheduled to be completed by August 20, in Bedford, Mass, the DOD said.

http://defensesystems.com/articles/2013/03/01/irobot-firstlook-army-contract.aspx?admgarea=DS

[Wildbilly]

iRobot Launches Stock Repurchase Program


Feb 28, 2013 (Close-Up Media via COMTEX) -- iRobot Corp., a company focused on
delivering robotic technology-based solutions, announced that its Board of
Directors has authorized a stock repurchase program. Under the program, iRobot
may purchase up to $25 million of its common stock beginning March 28, and
ending March 27, 2014.

According to the company, under the repurchase program, the Company is
authorized to repurchase shares through Rule 10b5-1 plans (which would permit
the Company to repurchase shares when the Company might otherwise be precluded
from doing so under insider trading laws), open market purchases,
privately-negotiated transactions, block purchases or otherwise in accordance
with applicable federal securities laws, including Rule 10b-18 of the Securities
Exchange Act of 1934. The Company may choose to suspend or discontinue the
repurchase program at any time but cannot carry over unused authorization
amounts to future periods.

"The Board's authorization of a share repurchase program reflects our confidence
in the health and long-term outlook of the company," said Colin Angle, chairman
and chief executive officer of iRobot. "With a strong balance sheet and cash
flows, we believe we can take advantage of current market conditions to buy back
our shares while maintaining the flexibility to make strategic investments in
our future." As of February 11, iRobot had 27,872,850 shares of common stock
outstanding.

Company Information:

http://www.irobot.com


Copyright Close-Up Media, Inc. 2013. All Rights reserved

-0-




INDUSTRY KEYWORD: Manufacturing_Close-up

Source: Comtex Wall Street News

[faxedreceipts]

Teen Creates 3D Printed, Brain-Powered Prosthetic Arm

http://blog.makezine.com/2013/02/08/teen-creates-3d-printed-brain-powered-prosthetic-arm/

IRBT needs to meet with this kid!!!

[faxedreceipts]

Something on the Side: Let the iRobot do the work

Robot Roomba 780

The iRobot Roomba 780 automatic floor cleaner offers a three-stage cleaning process and is able to clean carpets, wood, tile and linoleum floors. It features a Dirt Detect sensor that directs it to places where dust and dirt is located. Its sensors also allow it to move under furniture and into hard-to-reach places. A touchpad at the top lets you schedule a cleaning time. It also displays battery life, amount of dirt in the bag and filter statistics. Its iAdapt Technology scans the room it is cleaning more than 60 times per second, and this prevents it from cleaning one spot over and over. It also helps the iRobot to detect walls and steps and directs it back to its charging station when the room is clean.


http://www.gadget.co.za/pebble.asp?relid=5906

[faxedreceipts]

iRobot's Angle shares more than just revenues

Last year was bittersweet for iRobot Corp. The company celebrated its 10-year anniversary of its Roomba home vacuum robot and had to shut down its site in North Carolina and cut some of its workforce.
The Bedford, Mass.-based robotics business, like many defense contractors, had to prepare for the impending federal defense cuts. The defense side of iRobot’s business was at one point iRobot’s bread and butter. While it was still 60 percent home robot and 40 percent military in the 2006-2007 time frame, the money delivered to the organization was such that 80 percent was from military side of the business.
Now, that’s changed.
“We’ve seen a tale of two cities in the other direction earlier in our history,” iRobot Co-founder and CEO Colin Angle told Mass High Tech. The reduction in defense was not planned, and the increase in focus on the home robots side of the business was based on a very definite and independent plan to do everything the company could do to profitably grow the home robot business, according to Angle. Part of that focus meant the company had to take action and reduce resources being spent on defense. That equalled layoffs and the closing of the North Carolina site.
“That was very painful for us to do at the end of last year, but allows us to go into 2013 with a plan in place whereby we can have positive gross margins on the defense side,” Angle said.
Still, iRobot said it is not giving up on the defense business and plans to ride it out.
“It’s part of who we are and what we do,” Angle said. “Washington needs to figure out how it will get through the fiscal challenges and equip soldiers with the equipment they need.”

There is crucial investment the defense side, according to the company. Angle said the company is particularly focused on the First Look robot, a lightweight, throwable robot that can be used in confined spaces. One of technologies iRobot has added to it is mesh networking. “Some of technology that has been added to First Look is getting positive reaction from sponsors in the Pentagon,” he said.
The company was down $100 million in defense last year, but Angle said it made it up on much stronger than anticipated home robot sales. In fact, the company’s Roomba 700 series was the growth driver in 2012, and Angle said the company has invested significant time and money in marketing and strengthening its partnerships with retailers, including Bed Bath & Beyond, Kohls and Amazon.
While the decline in defense has been bitter, the sweet success of selling 9 million Roombas internationally has changed things for iRobot. The company says it has created a category in the small domestic appliance market. The plan is now to spend more research and development dollars in the home robot arena, since 90 percent of the business is now from home robots and only 10 percent from defense.
A major area of development for iRobot is the remote presence business unit, which is focused on the recently-approved (by the U.S. Food and Drug Administration) RP-VITA robot. The plan is to bring a similar robot in the home one day in an effort to expand independent living at home.
While it will cost $4,000 and $6,000 per month to lease the system - which includes a tablet, software, apps, a backend system and, of course, the robot - the in-home version would have to be affordable for the masses, according to Angle.

iRobot is a success story in its co-founders’ eyes, and Angle said he will continue to build the robotics industry - especially since five companies were founded by former iRobot employees.
“I’m very happy to spend time and energy giving advice to other robotics companies, and I’m also a big believer in building a robotics industry in Massachusetts.”
Fast facts about Roomba

iRobot shared some of its fun, fast facts about Roomba
Pounds of dirt collected by Roomba: 2.1 billion
Square meters covered:156 billion or the equivalent of 80 million Madison Square Gardens and 39 Rhode Islands
Distance travelled: One Roomba travel 704.6 miles in its lifetime
Weird things its picked up: snake, mice, thousands of LEGOs, lizards and coins from around the world
Names used for Roomba: Rosie, Robbie, Klaatu, Fido, Mona, Boogy, Flo, Zoomba, Charlie and Quinn
Ridden by: cats, dogs, babies, hamsters, ferrets, prairie dogs and turtles

http://www.bizjournals.com/boston/blog/techflash/2013/02/irobots-angle-shares-more-than-just.html

[faxedreceipts]

The sell on the news and Quarter people are out. The fundamentals for this company are strong:

80% of the business is consumer whereas just a year or two ago, the business was dominated by government sales. This is a huge achievement that was ridiculously ignored.

The RP-VITA which is going to be a material contributor to the top and bottom line. Once again, the shortage of doctors is going to increase the usage of these robots.

The Robotic 3D printer is going to be bigger than we know. I can't wait until Raytheon and IRBT decide to roll it out!.

[canaryincoalmine]

Their heathcare bot has recently obtained the coveted FDA approval necessary to provide for patient monitoriing, collection and transmission of patient sensitive data. As of today, it is only servicing hospitals. http://www.intouchhealth.com/company/press-releases/07-24-2012/
However, I am confident that the next logical step in the product evolution will to develop a version of the AVA for home use. Given the growing number of aging babyboomers coupled with the near broke medicare system I forsee a scenario where the feds will be forced to act aggressivly to reduce elder care and nusrsing home costs.
Finally, when you consider IRBT's lobbing capability, I think they're perfectly poised to obtain the necessary Medicare approvals that will be needed to control the market.

Of course, this is just my misguided two cents and you get what you pay for.

[Sally4thwith]

I know these folks do home robots, too.

Do any of them help with family care?

Besides cleaning floors, of course.

Thanks!

Sally

[faxedreceipts]

Al Gore talks about "Robosourcing" in his new book which is reviewed by the WSJ. Irobot anybody?:

"For example, what he calls "robosourcing"—the devouring of jobs by machines—is likely to place considerable stress on employment markets. While such predictions have been made since the days of Ned Ludd, it is also true that we have seen plenty of labor-market disruptions since those days. And as machines grow ever more competent, the likelihood of drastic disruptions in the future looks much higher.

As the Nebraska Guitar Militia sang, "people gotta have somethin' to do"—and if there is nothing else, they are likely to sit around "gettin' stewed." Not an appealing prospect for humanity, even if we all have robot gardeners. Worse yet is the risk that the robots will reach the point where they don't need us at all."

http://online.wsj.com/article/SB10001424127887323539804578259591841823904.html?mod=WSJ_Opinion_LEFTTopOpinion

[faxedreceipts]

Tremendous potential:

Those of skill in the art of manufacturing will understand that the systems and methods described above can be applied to different processes and can be modified and supplemented to address as is appropriate for a particular application. The processes described above, including FDM and Robocasting, will allow for products composed of numerous materials, including but not limited to ABS, polycarbonate, silicone rubbers, urethane rubbers, and plastics, and low melting temperature metals (e.g., for conductive traces), as well as combinations of these materials. However, those of skill in the art will recognize that other materials can be used and the materials and combination of materials used will depend upon the application.

[faxedreceipts]

Another Robotic 3D printer use:

In another example, the fabrication machine 100 may be used to repair a product. The manipulators may position the product such that the sensor system can scan the product and determine the product identifier (for example, an RFID, or 3D barcode). The product identifies may be used to obtain the original design and parameters of the design. The fabrication machine 100 can compare the current state of the design with the intended final state, and create a fabrication plan using the existing structure as the seed. For instance, if a toy helicopter had a damaged tail, the tail may be removed and the fabrication system 100 can recognize the design, determine what is missing, and re-fabricate the tail. Note that the damaged tail may be removed by the fabrication machine 100 using subtractive processing or it may be manually removed. In one embodiment, the fabrication machine 100 may be used to remove damaged or obsolete design elements autonomously.

[faxedreceipts]

Another Robotic 3D printer use:

According to another embodiment, the fabrication machine 100 may be used by individuals to create new products that overcome limitations of existing products. The fabrication machine 100 may be used by the military in the field. In one example, a soldier in the field may use the fabrication machine 100 to modify a surveillance robot. For example, if the surveillance robot is unable to climb over obstacles in the field, the soldier may use the fabrication machine 100 to create and fabricate a new design. In another example, an offsite military personnel may redesign the surveillance robot and transmit the new design to the soldier in the field. The soldier could use the fabrication machine 100 to easily fabricate a new surveillance machine with minimal product fabrication knowledge. In general, the fabrication machine 100 improves manufacturing capabilities and innovation by increasing access to 3D printing while also reducing costs and required production skills.

[faxedreceipts]

Robotic 3D printer main use:

According to one embodiment, the fabrication machine 100 may be used in a Manufacturing Distribution Facility, and it may use the product of the facility as components in the final product. For example, a facility may manufacture net shape metal parts or circuit boards, which may be input components for products fabricated with the fabrication machine 100.

http://appft.uspto.gov/netacgi/nph-Parser?Sect1=PTO2&Sect2=HITOFF&p=1&u=%2Fnetahtml%2FPTO%2Fsearch-bool.html&r=1&f=G&l=50&co1=AND&d=PG01&s1=20130015596.PGNR.&OS=DN/20130015596&RS=DN/20130015596

[faxedreceipts]

The iRobot and Raytheon patent is in place. The success of 3D printing is obnoxiously apparent as DDD is growing by leaps and bounds and just had a 3-2 stock split. Robotic 3D manufacturing by Raytheon and partner IRBT is going to change the world.

Looking at the stock price in the 20's is going to be fun after the Robot Fabricator is released and sales start ramping. IRBT was smart to partner with Raytheon.

[faxedreceipts]

iRobot and Raytheon moving into 3D printing. Found another article:

A very detailed patent was recently issued to iRobot and Raytheon for a "Robot Fabricator".

iRobot is well-known for their Roomba series of household cleaning 'bots, but they're also manufacturers of many commercial and military robots. Raytheon is a long-time high-tech industrial focusing on military and electronics markets. Together they bring a huge amount of expertise to the table and could easily produce a capable Robot Fabricator.

The patented system is a "fabrication machine/method that fuses additive and subtractive manufacturing with in-situ component placement to provide completely autonomous all-in-one product manufacturing". The system focuses around a six-axis robot arm that apparently can take on various tool heads, including those capable of 3D printing.

http://fabbaloo.com/blog/2013/1/31/irobot-moving-into-3d-printing.html#.URfBBqVFlbo

The robot arm approach is different from traditional 3D printing, which relies on the 3-axis rail approach. Robot arms are more expensive, but are much more versatile. Perhaps cost matters less if you manufacture robots?

We see a couple of interesting points in this patent:

iRobot and Raytheon are likely targeting the industrial market, not the consumer market. However, their move may lead to improvements in future consumer offerings.
The patented system should be highly capable. It will also be expensive.
Combining additive and subtractive manufacturing in a single unit seems to be unique - and probably will require some hefty software to drive it.
3D printing continues its advance as more companies get involved.

[Toxic Avenger]

Or even a single market, or single country. It's a keeper, but like all my stocks, if I can take a quick profit, I always do. Today has emphasized the importance of that strategy.

[elevenzeez]

I agree there. 3D printing may be the most exciting prospect on the table for iRobot. What I like about iRobot is the company doesn't have all their eggs in one basket with just a single product.

[faxedreceipts]

I listened to that call and was impressed by the relative straight forwardness and transparency that the CEO provided in his communications. How refreshing to hear. I'm very curious where they are in the development continuum of the robot 3d printer. If their technology is robust for that product, I would expect them to rapidly bring it to market and transform this company.

I like that they have a proven partner with Raytheon which will ceate billions in revenues!

[Toxic Avenger]

I got lucky. Took my 15% profit a few days ago from the first drop and now bought right back in today on the second drop.

Investors just don't get the long-term potential of iRobot, which is good for those of us that do. Today's drop on their reduced forecast because of Europe ignores the fact that everyone doing business in Europe is in the same boat - iRobot is just more conservative and upfront about projections.

Underpromise and over deliver - those are the stocks that do well, IMHO.

[faxedreceipts]

The article didn't mention that Raytheon is partnering with Irobot for the robotic 3d printer. Once that printer comes out IRBT becomes a 100 buck stock. Based on todays CC, I bet the eventually get bought out.

[Goku777]

Ouch!! down 13%.

[Wildbilly]

This Hot New Patent Has the 3D Printing World Abuzz

By Michael A. Robinson, Defense and Technology Specialist, Money Morning
February 7, 2013

Over the last two years 3D printing stocks have been on fire.
Stratasys Ltd. (Nasdaq: SSYS) has earned investors a two-year return of roughly 131%, while my favorite player, 3D Systems Corp. (NYSE: DDD), has delivered 255% gains.

I can't say I'm surprised. As I wrote last March, 3D printing is a $1 trillion dollar industry in the making.

It's what's known as a "disruptive technology."

And by the end of this decade, everyone from consumers to big businesses will be able to make their own unique products in just a couple of hours.

There's only one problem: Aside from Stratasys and 3D Systems, there haven't been many other ways for investors to play this hot market

Not only that, but the industry has gone through a consolidation as these two firms have snapped up several of the smaller players.

That has left investors with very few options-until now.

One is a company called ExOne, an outfit that develops and manufactures high-end 3D printing systems and printed products for industrial customers like Boeing, Ford Motor and Caterpillar.

The company has filed for a $68.3 million offering priced between $14 and $16 a share to trade on the Nasdaq under the symbol XONE. It could launch by the end of this week's trading.

The other is a name that is a little more familiar and it revolves around a hot new patent.
iRobot's Big Move Into 3D Printing

I'm talking about iRobot Corp. (NasdaqGS: IRBT) which has unveiled a new design that will also put it squarely in the 3D space.

And in plans it has sketched out to the federal government, iRobot seems to have no intention of becoming just another "me too" entry in the 3D printing space.

Instead, iRobot wants to take this already advanced tech to the next level.

See, right now the process is largely run by machines -- the computer runs the program and the printer makes the objects such as auto parts, medical devices and military components.

Ease of use is one of the big selling points. But the process is not completely automated.

Among other things, people still have to feed special polymers into the printer - the "ink" that the objects are made from -- or they have to assemble the final product in some manner.

And that's where iRobot believes it has a competitive advantage. After all, it remains a leader in robots for the Pentagon and for the home.

Now iRobot wants to automate the whole 3D printing process.

That's the vision behind its new "Robotic Fabricator." It's a completely autonomous all-in-one product that has the 3D industry all abuzz.

It started when the firm recently filed to get a patent for the design to protect its barriers to entry.

iRobot hasn't said when it hopes to market the new work stations or if it will use them to simply drive down the cost of making its own robots, which would improve profit margins and earnings for investors.

But the company has described how the new fabricators will function.

First, though, a comparison of existing 3D printing standards will help shed some light on iRobot's new approach.

For instance, let's say a printed object requires an "overhang"-- like what you would consider a "lip" on a kitchen countertop. Or maybe a printed object becomes so big as more layers of materials are added that it needs to have some type of support.

In both instances, a human being will be required to insert that device and then remove it later.

iRobot says it believes that the required labor alone builds inefficiencies into the process, because by definition it takes extra steps to finish the printed good.

The company also says there's the benefit of improved quality control from its new design.

Connectors and fasteners are often used to secure multiple components, while fusing parts together requires a seam. Such means of assembly are frequent sources of failure, which not only reduces quality but leads to higher costs.

iRobot's Robotic Fabricator seeks to change all that by reducing the need for human labor and increasing product quality.

Moreover, the company wants to equip the work station with sophisticated sensors as well as scanners to make precise measurements or check on the quality of electrical contacts.

Ironically, iRobot hasn't made its plans public. But when the tech trades came across the patent application, the design quickly became the talk of the growing 3D printing community.
A New Path to Profits

iRobot's foray into 3D printing comes as the firm seeks ways to address the tight defense budgets that have slammed the Pentagon's suppliers. Besides leaving Iraq, the Obama administration wants a smaller U.S. military footprint overall.

That means less demand for such products as its mini four-wheeler spy bot that can observe hostiles in close quarters. Ditto for its pack-bots that help carry loads of heavy supplies.

So, faced with lean times for the military, iRobot clearly could use a new source of sales that goes beyond its current line of home bots that vacuum, scrub floors, or clean out rain gutters.

It recently announced that the FDA had given its approval to begin selling a new "telemedicine" robot for use inside hospitals. The new bot can operate autonomously, has access to health records and can link doctor and patient for "virtual" conferences.

Clearly, the medbot has a greater chance of grabbing immediate sales than does the Robotic Fabricator at this point.

However, iRobot's decision to tap into the growing 3D printer market shows that it wants to find new ways of doing business in what I call the Era of Radical Change.

And what could be more cutting edge than a robotic workstation that can go from raw materials to finished product all on its own?

No matter how you slice it, the 3D printing industry will continue to bring new breakthroughs that can only be of benefit to users and investors alike.

[caravan]

My speculation is that IRBT will do better than the analyst'spredictions. We will see soon enough.

Yes, we will see soon enough.

[faxedreceipts]

PCMAG Says InTouch Health RP-VITA Best Robot In Show At CES 2013:

BEST ROBOT

InTouch Health RP-VITA

Developed in partnership with iRobot, InTouch Health brought it latest medical robot to CES 2013: the RP-VITA. Although InTouch has other medical robots, the RP-VITA is the first one that can navigate autonomously. The RP-Vita has built-in mapping, obstacle detection, avoidance technology, and an iPad user interface that can connect directly to hospital systems. When a patient rings a call button, the RP-VITA could be dispatched bedside allowing the doctor to evaluate the patient's condition from anywhere in the world. That won't help if you just need help getting to the bathroom, but it can help doctors be in more place than one. –DC

http://www.pcmag.com/article2/0,2817,2414171,00.asp

[faxedreceipts]

InTouch Health videos on RP-Vita. It's coming to many hospitals! The ability to utilize more than one physician in the RP-Vita is essential to saving money and providing care to many hospitals and areas that have specialist shortages. This is going to be big! My local news channel just did a story on the RP-Vita today:

http://www.intouchhealth.com/products-and-services/products/rp-vita-robot/

[faxedreceipts]

I can't imagine that during Q4, that Roombas and other robots weren't bought in excess for the Christmas season. My speculation is that IRBT will do better than the analyst's predictions. We will see soon enough.

You have to like this company long term with the prospects of a Raytheon partnership with a Robotic 3D printer in the works and the FDA certification of their medical robot. Lots of rural hospitals will get these robots since no doctors in their right minds would want to work and live in some very economically depressed areas. Lots of good potential for this company to return to pps of 38 plus imo.

[faxedreceipts]

iRobot and Raytheon’s All-in-One Robot Fabricator: Hide Your Kids, The Robocalypse Is Nigh

OK, so basically, self-replicating robots are a no-no when it comes to robotics, because you don’t want them to start taking over the planet and exterminating humans. I for one, don’t welcome our robotic overlords. iRobot and Raytheon recently filed a patent which could be the source of something scarily robotic. Thankfully, this isn’t exactly what they’re after, but it wouldn’t take much to make so-called “von Neumann machines” a reality with this device in hand.

The patent for the Robot Fabricator is for a machine that would allow products of all sorts to be autonomously constructed. Its capabilites would range from the creation of seed components to the assembly of finished products without any direct human involvement.
While we’re still quite far from the scenario of what happened in the Dune novels by Frank Herbert, in which machines enslaved humanity, things could still go very wrong very quickly. If such a device got into the wrong hands grippers, robots could be popping up everywhere. Scary, huh?

http://technabob.com/blog/2013/02/01/irobot-raytheon-robot-fabricator-patent/

[Toxic Avenger]

This has been moving up nicely since the sell off. Back to where it started. I'm thinking it's time to take some profits, then sit back and see how the K looks in a few weeks.

[faxedreceipts]

Nice partnership with Raytheon! Raytheon could easily buyout IRBT with its 4 billion in cash. Anybody see what a good fit the two companies are?

[makethegame]

Patent Application for IRBT's new 3d play! :)


http://appft.uspto.gov/netacgi/nph-Parser?Sect1=PTO2&Sect2=HITOFF&p=1&u=%2Fnetahtml%2FPTO%2Fsearch-bool.html&r=1&f=G&l=50&co1=AND&d=PG01&s1=20130015596.PGNR.&OS=DN/20130015596&RS=DN/20130015596

[faxedreceipts]

iRobot's RP-VITA can navigate the halls of hospitals autonomously, connecting doctors and patients in a new and more efficient way.
By Christopher Gambon Email the author 5:55 am

Don't be surprised next time you're in a hospital if you see a robot rolling through the corridors on its own.

Bedford-based iRobot's new Remote Presence VITA, or RP-VITA, will allow doctors and patients who are not in the same locale to connect remotely, with the robot possessing the ability to navigate the halls of a hospital on its own.

RP-VITA "maps its own environment and uses an array of sophisticated sensors to autonomously move about a busy space without interfering with people or other objects," according to a press release from iRobot.

iRobot received approval from the Food and Drug Administration for the RP-VITA, making it the first remote presence robot which can navigate autonomously, according to a recent report by the Boston Herald.

According to Director of Product Management for iRobot’s Remote Presence Business Unit, Marcio Macedo, the RP-VITA maps its own environment and then allows doctors located remotely to select their patient's name, prompting the robot to navigate to the correct room of the hospital autonomously.

The capability for autonomous navigation is what makes the RP-VITA the first of it's kind, according to Macedo.

"The contrast with the previous generations is where the doctor would drive a robot around the hospital using a remote control," Macedo said.

Looking for updates on what's happening in Bedford business news? Subscribe to our newsletter, and follow us on Twitter and Facebook.
Instead of worrying about piloting the robot, the autonomous navigation feature allows doctors to focus more of their time and energy on preparing for the consultation.

"Autonomous navigation gives the ability to the doctor to be much more efficient," Macedo said. "The doctor can prepare for consultation, look at the patient's record and more while the robot navigates itself."

The RP-VITA allows doctors not only to interact with patients remotely, but also with other doctors who might be working with the patient, according to Macedo.

"The core benefit is to allow doctors to be at a patient's bedside remotely," Macedo said. "A doctor can go visit a patient and also interact with the patient's family and other doctors and experts that might be there."

For doctors not at a patient's bedside, the RP-VITA allows access to key information such as patient vital signs, lab reports and patient history, according to Macedo.

A key benefit the RP-VITA provides to both doctors and patients is when a patient's condition calls for care by a specialist, such as stroke victims.

"If a stroke victim arrives in an emergency room and needs specialized care from a stroke doctor, the RP-VITA can connect the patient with a stroke doctor from another hospital," Macedo said.

Macedo said patients also often prefer to keep the same doctor even if they are moved to a different hospital or their doctor isn't always working out of the hospital they are staying in.

"With RP-VITA patients can have follow ups with the same doctor that did their surgery even if he isn't based out of their hospital," Macedo said.

http://bedford-ma.patch.com/articles/video-irobot-s-rp-vita-connects-doctors-and-patients-over-long-distances

[faxedreceipts]

IRobot, Allergan, Microsoft: Intellectual Property (Ka--ching!!!!)

IRobot Corp. (IRBT), the company that makes robotic vacuum cleaners, floor-scrubbers and gutter-cleaners, has applied for a patent on robotic assembly.

According to application 20130015596, published in the database of the U.S. Patent and Trademark Office Jan. 17, this technology is related to the three-dimensional printing and manufacturing process. IRobot said in the application that this would be a fully automated process without human intervention and labor.

The Bedford, Massachusetts-based manufacturing company said the technology would increase the quality of a finished product because it would be made all in one, without the need to attach additional components. In what it calls “traditional 3-D printing,” connectors and fasteners are often required to attach component parts to each other, and these connection points are often the site of product failure, IRobot said.The machine that performs this operation would be a six- axis industrial robot that handles product from seed component to mature product, through the use of 3-D printing, milling and drilling, according to the application.

IRobot filed this patent application in June 2012. According to the application, the two assignees or owners of the patent are IRobot and Raytheon BBN Technologies Corp. of Cambridge, Massachusetts.

http://www.bloomberg.com/news/2013-01-29/irobot-allergan-microsoft-intellectual-property.html?cmpid=yhoo

[elevenzeez]

CES 2013 Day 4 InTouch Health and iRobot make RP Vita!

!

[faxedreceipts]

I agree with your assessment. In addition, hospitals use the robot to access specialists physicians worldwide for consults/opinions/diagnoses at a fraction of the cost of having said doctor in-house. The market will see this to be the case and IRBT will be in the 40's before we know it.

[elevenzeez]

What do you think of the estimated operating cost of $4-6k per month?

I thought it to be a bit steep at first, but after considering an annual cost of even $72k per year for a doctor is quite a deal. If it keeps a hospital from having to hire just one doctor, then it's more than paid for itself. Not to mention telepresence will allow hospitals to let doctors with certain specialties to visit, if they don't happen to have that specialty on hand.

[faxedreceipts]

IRBT, for now, has an official monopoly to sell medical robots to the
healthcare industry with the FDA's blessing. The market for these robots is going to grow substantially as doctor shortages have become prominent in this new medical era of lower medicare/medicaid payments to doctors, increasing liability costs, ever increasing regulaions. IRBT will hit a home run with their doctor IBOT.

Their entrance into robotic manufacturing with 3D printing wil put IRBT into this impressive new era of growth and change manufacturing in ways we can't imagine. Let's just say that once throbot is implemented, humans are going to have a lot less job opportunities in manufacturing.

IRBT has huge potential and is way undervalued at 23 and change.

[elevenzeez]

Nice work! Will be interesting to watch how the market reacts. At this point, especially with the FDA green light, iRobot seems to be well ahead of the competition.

[Toxic Avenger]

Nice news! I wonder if that's what's sending the stock price up so much today. This is turning out to be one of my best performers - up 25% since I bought in during the drop. I was just counting on a rebound following the clear oversell signal, but it appears it may be getting a boost from this new large potential market.

[elevenzeez]

iRobot gets FDA approval!

http://www.irobot.com/en/us/Company/Press_Center/Press_Releases/Press_Release.aspx?n=012413

1/24/2013
RP-VITA™, by iRobot and InTouch Health, enables doctors to provide patient care from anywhere in the world via a telemedicine solution
BEDFORD, Mass., January 24, 2013 – iRobot Corp. (NASDAQ: IRBT), a leader in delivering robotic solutions, announced that the RP-VITA Remote Presence Robot has received 510(k) clearance by the U.S. Food and Drug Administration (FDA) for use in hospitals. RP-VITA is the first autonomous navigation remote presence robot to receive FDA clearance.

RP-VITA is a joint effort between two industry leaders, iRobot and InTouch Health. The robot combines the latest in autonomous navigation and mobility technologies developed by iRobot with state-of-the-art telemedicine and electronic health record integration developed by InTouch Health. RP-VITA allows remote doctor-to-patient consults, ensuring that the physician is in the right place at the right time and has access to the necessary clinical information to take immediate action. The robot has unprecedented ease of use. It maps its own environment and uses an array of sophisticated sensors to autonomously move about a busy space without interfering with people or other objects. Using an intuitive iPad® interface, a doctor can visit a patient, and communicate with hospital staff and patients with a single click, regardless of their location.

The FDA clearance specifies that RP-VITA can be used for active patient monitoring in pre-operative, peri-operative and post-surgical settings, including cardiovascular, neurological, prenatal, psychological and critical care assessments and examinations.

RP-VITA is being sold into the healthcare market by InTouch Health as its new flagship remote presence device. iRobot will continue to explore adjacent market opportunities for robots like RP-VITA and the iRobot Ava™ mobile robotics platform.

“FDA clearance of a robot that can move safely and independently through a fast-paced, chaotic and demanding hospital environment is a significant technological milestone for the robotics and healthcare industries,” said Colin Angle, chairman and CEO of iRobot. “There are very few environments as difficult to maneuver as that of a busy ICU or emergency department. Having crossed this technology threshold, the potential for self-navigating robots in other markets, and for new applications, is virtually limitless.”

“Remote presence solutions have proven their worth in the medical arena for quite some time,” said Yulun Wang, chairman and CEO of InTouch Health. “RP-VITA has undergone stringent testing, and we are confident that the robot’s ease of use and unique set of capabilities will enable new clinical applications and uses.”
About iRobot Corp.
iRobot designs and builds robots that make a difference. The company’s home robots help people find smarter ways to clean, and its defense & security robots protect those in harm’s way. iRobot’s consumer and military robots feature iRobot Aware® robot intelligence systems, proprietary technology incorporating advanced concepts in navigation, mobility, manipulation and artificial intelligence. For more information about iRobot, please visit www.irobot.com.

For iRobot Investors
Certain statements made in this press release that are not based on historical information are forward-looking statements which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. This press release contains express or implied forward-looking statements relating to, among other things, iRobot Corporation’s expectations concerning delivery of technology for robots in hospitals. These statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those contemplated in these forward-looking statements. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. iRobot Corporation undertakes no obligation to update or revise the information contained in this press release, whether as a result of new information, future events or circumstances or otherwise. For additional disclosure regarding these and other risks faced by iRobot Corporation, see the disclosure contained in our public filings with the Securities and Exchange Commission including, without limitation, our most recent Annual Report on Form 10-K.

Contact:

Elise Caffrey
Investor Relations
iRobot Corp.
[phone]
[e-mail] Charlie Vaida
Media Relations
iRobot Corp.
[phone]
[e-mail]

[Toxic Avenger]

Nice move today. Probably on the fiscal cliff solution and its positive effect on defense spending.

GO iRobot!

[Toxic Avenger]

Yeah, nice bounce off that drop. It was a good time to start a position.