AVRA Medical Robotics, Inc. (OTC: AVMR) PROVIDES UPDATE ON MERGER

ORLANDO, FL, December 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 continues to progress toward the completion 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 leveraging patents, trademarks and other intellectual property. It has received full clinical approval from the Indian regulatory bodies and is now able to accept and deliver orders for its Mantra surgical robotic system within In the and in more than 54 other countries. With what the company says is superior functionality and ergonomics, the Mantra 2 can cost up to half as much as its direct competitors’ systems. Initial deliveries have in August 2022 in Delhi by the Rajiv Gandhi Cancer Institute and Research Centre and the Mantra 2 system is now working in 3 hospitals. SSI-India plans to start searching 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. Additionally, we expect the system to be the first of its kind specifically tailored to assist in the performance of all complex cardiac surgical procedures.

Upon completion of the merger, the Company will change its name to SS Innovations International, Inc. and the shareholders of CardioVentures will become the controlling shareholders of the Company. Post merger, we intend to focus a significant portion of our efforts on the expansion and further development of the business of SSI India, which will be an indirect majority subsidiary of the Company.

Over AVRA Medical Robotics

AVRA Medical Robotics, Inc.(OTC: AVMR) is a medical software and artificial intelligence company building a fully autonomous medical robotic system that combines artificial intelligence, machine learning and proprietary software.

It empowers doctors and the practice of surgery through the use of software and artificial intelligence.

AVRA concentrates its research and development efforts to meet the rising expectations of patients and practitioners for the accuracy, efficiency 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 www.avramedical.com.

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 “expect”, “assume”, “believe”, “estimate”, “expect”, “will”, “intend”, “may”, “plan”, “project”, “should”, “could”, “seek”, “design”, “potential”, “forecast”, “target”, “goal”, “objective” or the negative 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 could cause our actual results, levels of activity, performance or achievements to differ materially from any future results, levels of activity, performance or performances expressed or implied by these forward-looking statements.

Contact: [email protected]

Source: AVRA Medical Robotics, Inc.

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