IH Systems Announces $7.6 million in Financing to Advance RIVA Pharmacy Automation System

    WINNIPEG, Oct. 31 /PRNewswire/ - Intelligent Hospital Systems (IH
 Systems), a Winnipeg-based medical device company, announced today it has
 secured $7.6 million of equity and debt financing. The financing will
 support the introduction of the company's RIVA (Robotic Intra Venous
 Automation) system - a self-contained unit for filling IV syringes and bags
 - to the North American hospital pharmacy market.
     BDC Venture Capital took the lead with a $3 million investment. Other
 investors include the Western Life Sciences Venture Fund (WLS) with an
 investment of $1.0 million, and a group of investors assembled by
 Wellington West Capital, who together invested $1.1 million.
     "We are extremely grateful for the support we have received from BDC
 Venture Capital, WLS and Wellington West," says Kevin McGarry, Chief
 Executive Officer of IH Systems. "This financing will allow IH Systems to
 complete development and manufacturing of RIVA and begin installation in
 several key U.S. hospital pharmacies in early 2008," he adds.
     "Intelligent Hospital Systems is clearly representative of the dynamic
 and leading-edge technology companies in which BDC invests and we are
 pleased to have led this round of financing," states Gary Bantle, Director
 BDC Venture Capital. "This venture capital investment represents a
 continued commitment of BDC to the Manitoba market and is evidence that
 growth in this sector continues to be strong," Bantle says.
     The combination of excellent technology, a growth platform and
 recurring income potential of the RIVA system led to Wellington West's
 decision to support this round of financing. "We are delighted to support
 this dynamic, Manitoba-based company as it positions its product for the
 world stage," declares Brent Bottomley, Vice President of Corporate Finance
 with Wellington West.
     The WLS Fund has been involved with the RIVA technology since the early
 days, according to Chief Financial Officer, Rob Davidson. "WLS was created
 to support very early stage developments on their path towards
 commercialization," he says, adding: "It is satisfying to see how far
 Manitoba-based technology can advance with the support of the local
 investment community."
     About IH Systems
     Intelligent Hospital Systems is a medical device company focused on the
 design and development of automated solutions for the hospital environment.
 www.intelligenthospitals.com
     About BDC Venture Capital
     BDC Venture Capital is a major venture capital investor in Canada,
 active at every stage of a company's development cycle, from seed through
 expansion. Its focus is on technology-based businesses with high growth
 potential that are positioned to become dominant players in their markets.
 Established in 1975, BDC Venture Capital has invested in over 400 firms to
 date. It currently manages some $500 million in venture capital investments
 in the life sciences, telecommunications, information technology, and
 advanced technology sectors, as well as investments in funds. Visit
 www.bdc.ca for more information.
     About Wellington West Capital
     Wellington West Capital Inc. is one of Canada's leading independent
 financial management and investment advisory companies with 35 office
 locations across Canada. www.wellwest.ca
     About WLS Fund
     The $45 million Western Life Sciences Venture Fund LP (WLS) was
 established to close the gap between research discoveries and the
 commercial application of those discoveries by providing financial,
 management and marketing support through the early and second stages of
 development. www.lombardlifesciences.com/westernlifesciences
 
 

SOURCE INTELLIGENT HOSPITAL SYSTEMS