Thursday, September 25, 2008

iRobot Developing "Floor Genie" - A Sterile Hospital Cleaning Robot, Files for Patent!


BREAKING: iRobot is developing a "Floor Genie" for sterile robotic cleaning of hospital operating rooms with a Connecticut startup called Optimus, Robot Stock News has learned.
iRobot Corporation (NASDAQ:IRBT) filed for a patent on the new robotic cleaning system that would use disposable, sterile cartridges for cleaning environments such as hospitals and operating rooms. The cartridges could be attached to products such as the iRobot Scooba floor washing robot or something called a "Floor Genie," according to the patent application, and may include a UV germicidal light for disinfection.
The "Floor Genie," according to the website of a company called Optimus Services LLC based in Greenwich (link), is part of a new "Optimus Integrated Surgical Environment" designed to minimize infections and increase the number of surgeries that can be performed per day. The new state-of-the-art operating rooms feature rounded corners to better enable thorough robotic cleaning by the "Floor Genie," because research shows the corners are the most germ-infested. (Infections are literally killers in hospitals, which are constantly looking for ways to improve cleanliness).
The new surgical rooms will be ready for production in October, 2008, according to the company's web site, and they will cost $1.8 million a pop, the Greenwich Time and Stamford Advocate reported earlier this year [pdf (no mention of Floor Genie)]. Optimus lists iRobot as one of its partners on the Floor Genie and in general, but does not say when the "Floor Genie" will be available or how much it will cost on its own.
And given that I've never heard iRobot mention this product in the years I've been covering it, there's no guarantee that it will ever ship. The patent application itself was filed more than two years ago, but was only published Sept. 4, 2008.
Given that Optimus is a startup, iRobot presumably won't see much revenue in the short term, but sterilized, automated cleaning of hospital units would seem to be an acute need that could potentially be extremely lucrative, given the high profit margins for medical products (just see Intuitive Surgical - NASDAQ:ISRG).

Meanwhile, from iRobot's patent application:

...An invention that allows a robotic floor-cleaning device to repeatedly clean a sensitive environment while maintaining sanitary and sterile conditions would be of benefit. ...
An automated (robotic) floor-cleaner, such as the commercial available Scooba® or Floor Genie™, is adapted to allow sterile cleaning of sensitive environments, such as a hospital operating room. In particular, the floor-cleaner chassis is redesigned to be mounted on a deck containing cleaning devices that contact the floor. The cleaning devices mounted on the deck, which can comprise such cleaning devices as vacuum heads, brushes, cleaning fluid sprays, and conceivably sanitizing devices such as a UV germicidal light, are provided pre-sterilized. As such, the adapted floor-cleaner chassis allows the deck to be mounted to the bottom of the chassis; the floor-cleaner is then used to clean a floor, after which, the deck is removed from the chassis and disposed. The robotic-floor cleaner and sterilization system cleans floors between or even during cases. The system's disposable, sterile cleaning-cassettes ensure a sterile environment. Further, the robotic floor cleaner reduces the "turnover time" required between cases, as it operates simultaneously while the staff prepares the room for the next case.
Here is an excerpt from Optimus's web site listing for the Floor Genie:
Automated floor cleaning system (Floor Genie)
A robotic floor cleaner and sterilization system to clean floors between cases. This system, called the "Floor Genie," will have disposable cleaning cassettes, ensuring single use, and therefore a more sterile environment. Transmission of resistant organisms from case to case will be prevented. It is designed to reduce the turnover time required between cases, as it will operate simultaneously while the staff prepares the room for the next case. The room design also includes the elimination of squared corners, replacing these with 18 inch rounded corners so that they can be cleaned. Optimus’ studies performed in hospitals indicate that traditional room corners represent the areas of highest microbial contamination.
I-Robot
Here's a video talking about Optimus's vision for creating a sterile surgical room (no video of the "Floor Genie").

Also, I found a recently published presentation (Powerpoint in WMV format via this link) detailing the development of a hospital cleaning system using a swarm technique featuring an iRobot Roomba. The developer suggests that the Scooba would ultimately be preferable given the ability to mop using sterilizing cleaning solution. But it looks like iRobot is way ahead of him!

I have never heard iRobot mention this product in the years I've been following the company and listening to every conference call, and there is nothing on the company's web site about it either. I can only presume that they've kept it hush-hush to prevent competition.

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iRobot Wins New Contract Orders!

iRobot announced new contract orders today that should bolster its backlog:

First is a $13.3 million order for 165 PackBot 510s with FasTac kit under the xBot kit. (link). iRobot says it can now churn out 100 xBots a month.

iRobot also separately announced a $5.8 million contract for xBot spare parts and service. (link)

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Saturday, September 20, 2008

Having fun yet? IRBT Soars As Market Swoons

Holders of IRBT have been pleasantly rewarded recently. Nice to have a no debt company completely unrelated to mortgage mania, huh? One with a steadily increasing share of the federal defense budget and a solid growth story?

Waiting on the award, or not, of the Seaglider contract. Some of the upside this week could be speculation on a win or of good news vis-a-vis the ongoing SUGV testing.

I also note that HSN sold at least $1 million worth of iRobot products in about two hours a week or so ago. It's almost an ideal format because people can see the products working. They need these demonstrations at retail for the many people who don't watch HSN. iRobot retail stores, please!

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Saturday, September 13, 2008

iRobot may not be making much of a profit, but it is making other companies

Read it and weep: Story details all the startups former iRobot geniuses have started (including Rodney Brooks!)

Monday, September 08, 2008

iRobot Buys Nekton Research

iRobot Corp. (NASDAQ:IRBT) bought Nekton Research, developer of underwater robots, including the Nekton Ranger, for $10 million plus a possible $5 million bonus. The purchase will put a dent in iRobot's cash position and cut 2 cents from earnings this year and 2 to 3 cents next year as iRobot invests in the Ranger product, the company said in its press release. But it will also add $6-8 million in revenue next year and the potential for more once the next-generation Ranger is released in late 2009.
The purchase is meant to complement iRobot's earlier acquisition of the commercial rights to the larger Seaglider underwater robot, and expands iRobot's Navy-oriented focus:
“We believe that the underwater market is the next frontier for robots” said Helen Greiner, co-founder and chairman of iRobot. “This acquisition positions us for leadership in robot solutions on both the land and sea.”
“We are excited to have the opportunity to acquire a company with such a successful history of innovation and insight in the underwater vehicle space” said Joe Dyer, president of iRobot’s Government and Industrial Robots division. “Nekton’s Ranger will be a strong complement to the Seaglider we have licensed from the University of Washington. With these two unmanned underwater vehicles (UUVs) we will be better positioned to meet the needs of our customers.”
Rick Vosburgh, Nekton’s President and CEO, will be appointed Executive Director, Maritime Systems and will lead business operations out of iRobot’s newly established Maritime Programs office located in Raleigh-Durham, North Carolina. “We are extremely happy to be joining the iRobot team. The expertise iRobot has demonstrated in migrating research projects to products made it a perfect fit for our company,” said Mr. Vosburgh. “We expect to be offering a next-generation Ranger by late 2009, which would not have been possible without iRobot."

thx, Wealjays!
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Thursday, September 04, 2008

Army gives iRobot another $200 million contract

In addition to iRobot's massive xBot contract, iRobot also has a new $200 million contract for PackBots and other military robots.

These contracts provide a hard floor under iRobot's stock price, IMHO. With close to $500 million in military contracts in hand and room for significant growth both in military and consumer 'bots, any weakness in the stock price from here would ramp up takeover talk.
-Thorn

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iRobot raises prices, launches Roomba 610, Roombas for Pets; Rodney Brooks starts new company

First the good: iRobot yesterday raised prices across its Roomba line and launched new models aimed at pet owners and small businesses. The pet models -- Roomba 532 and 562 -- are $349 and $399 respectively, and feature a second "sweeper" bin that holds more pet hair as well as extra brushes. I'm withholding judgment on whether these are much of an upgrade until I get a look at them. Past pets models have been drivers of direct sales via iRobot's web site, which is a positive, because they have not been available through retailers.
And the new Roomba 610 features a 2-year-warranty, more brushes, two bins and a few other doodads. Doesn't look like it has a lithium battery, and I'll also withhold judgment on how much of an upgrade this is. The pricetag is a whopping $599, so if they can sell any of them at all, they should be seeing much larger margins than they have of late.
Other Roomba products have seen price hikes of up to $30 -- perhaps in response to the shrinking gross profit margin seen in the first half as well as rising commodity prices and general inflation. It will be interesting to see if they can sustain these price hikes in the midst of a difficult retail environment. Will people really shell out $429 for a Roomba 570 with a 1-year warranty? Although perhaps the price hikes will enable iRobot more margin with which to promote their products and offer special discounts which give the impression of a "deal" even if it's the same price it was six months ago.

In other big, not-so-good iRobot news, company co-founder and robotics legend Rodney Brooks is stepping down as chief technology dude and starting his own "non-competing" robot company, "Heartland Robotics." Hmmm. (How could this possibly be noncompeting???) He'll stay on iRobot's board of directors and start a new technical advisory board for iRobot in the meantime...

The company will search for a replacement in 2009. (I guess they don't want to add to the payroll this year?)

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