Phoenix Rising Companies Announces Morpheus Robotics Acquisition Progress and Dental Implant Product Developments

Rhea-AI Summary

Phoenix Rising Companies (PRCX) announced progress in its planned acquisition of Morpheus Robotics, Inc., headquartered in Italy. CEO DS Chang highlighted the advancements in Morpheus' product development, particularly in robotic devices for dental implantation. These innovations aim to enhance surgical accuracy and reduce both complications and costs. The parties are finalizing the Share Exchange Agreement, with completion expected soon. The acquisition is anticipated to significantly grow Phoenix's market presence and benefits for stakeholders.

Positive

• Acquisition of Morpheus Robotics expected to enhance product offerings.
• Morpheus' dental implantation technology aims to improve surgical accuracy and reduce complications.
• Potential for substantial growth for Phoenix and its stakeholders.

Negative

• Current pre-financing stage may delay acquisition finalization.
• Uncertainties in meeting projected product development timelines.

PARK CITY, UT / ACCESSWIRE / October 13, 2022 / Phoenix Rising Companies OTCMarkets PINK:PRCX:

DS Chang, CEO and Chairman of the company is pleased to announce progress towards the previously announced planned acquisition of Morpheus Robotics, Inc. Morpheus was originated and has continuing operations in Italy.

While in the current pre-financing stage DS Chang continues to work with Massimo Strada and Stephen Lee of Morpheus. The Morpheus team has kept DS and Phoenix informed of ongoing advances in Morpheus product development.

The product of greatest interest currently is Morpheus' robotic devices for dental implantation. These machines, when finished and deployed, will aid oral surgeons to implant replacement teeth in patients with highly improve accuracy, greatly reducing both complications and pain. Further, use of the Morpheus machinery saves time and money.

The Parties are working to complete the Share Exchange Agreement as soon as possible to be followed by the closing between the entities.

Further developments will be announced.

ABOUT MORPHEUS: Morpheus Medical Robotic System is the result of an unprecedented combination of Artificial Intelligence Based Software, new generation medical imaging, holographic reality, robotic applications, pervasive sensors natively integrated, delivering a new and unique minimally invasive robotic surgery ecosystem.

The Morpheus Super-Calculus GPU Based Appliance is a parallel vectorial supercomputing machine able to process 40 trillion operations per second guaranteeing a fluid ultra-high definition 4X4K, ultra-fast artificial intelligence segmentation, real-time Holographic mixed reality modeling, real-time visual guidance self-alignment.

Morpheus started with and continues to use a primary engineering team in Milan, Italy.

PHOENIX COMMENTS DS Chang, CEO of Phoenix reminds readers of his prior comments, to wit, "This acquisition, if completed, represents a move towards Westernizing Phoenix with new acquisitions that offer a substantial possibility of incredible growth of the company and its stake holders"

For information on Phoenix Rising Companies, visit www.phoenix-cos.com.
contact ir@phoenix-cos.com

CAUTIONARY STATEMENT

This press release contains forward-looking statements. Known and unknown risks may cause actual future results to vary widely. The statements are based upon Management's and Advisor's current expectations, estimates and projections; are not guarantees of future performance and are subject to certain risks and uncertainties and other factors, some of which are beyond Management's control and are difficult to predict. A reader of this press release should not place undue reliance on forward-looking statements. Investors should understand investing in shares of PRCX involves a high degree of risk and should seek competent investment advice prior to purchasing shares.

SOURCE: Phoenix Rising Companies

View source version on accesswire.com:
https://www.accesswire.com/720337/Phoenix-Rising-Companies-Announces-Morpheus-Robotics-Acquisition-Progress-and-Dental-Implant-Product-Developments

FAQ

What is the status of the acquisition of Morpheus Robotics by Phoenix Rising Companies?

Phoenix Rising Companies is currently making progress on the acquisition of Morpheus Robotics, with the Share Exchange Agreement nearing completion.

What products are being developed by Morpheus Robotics?

Morpheus Robotics is developing robotic devices for dental implantation, aiming to enhance accuracy and reduce complications.

How will the acquisition of Morpheus Robotics impact Phoenix Rising Companies?

The acquisition is expected to significantly grow Phoenix's market presence and benefit its stakeholders.

When is the acquisition of Morpheus Robotics expected to close?

While the closing date is not specified, the parties are working to finalize the Share Exchange Agreement as soon as possible.