ST. PAUL, Minn., Aug. 31 /PRNewswire/ -- Enova Medical Technologies, Inc. of St. Paul, Minn., and Product Innovations, Inc. (P.I.) of Aspen, Colo., are pleased to announce the launch of Exos Corporation, a joint venture company that will develop and commercialize innovative orthopedic support devices.
Exos will focus on the product development and commercialization surrounding its revolutionary, patentpending technology called OrthoFoam(TM) Dry-Heat Thermoformable Splint/Cast/Brace Systems. Taking a composite materials approach to the construction and custom fitting of orthopedic devices, OrthoFoam technology is expected to radically change the practices surrounding external orthopedic casting, splinting and bracing.
"There is considerable market opportunity for this technology, ranging from emergency room splinting to long-term bracing during patient rehabilitation. Our immediate focus is to manufacture and launch our initial OrthoFoam products for upper extremity injuries," said Fariborz Boor Boor, Enova CEO and Exos President/CEO. "Over the next year, we will release additional products for lower extremity injuries and longer-term bracing needs through a variety of clinical venues."
Roger Heegaard, Enova president/COO and Exos board member, explained that Exos delivers on Enova's commitment to bringing life-changing technologies to market. "This venture perfectly illustrates Enova's strategy of fostering a collaborative community of medical professionals that discovers new ideas and quickly turns them into innovative healthcare products," he said. "Exos is the direct result of combining P.I.'s tremendous creative and design capabilities with Enova's skill in bringing revolutionary medical technology ideas to life."
Mark Joseph, P.I. president, developer of the OrthoFoam technology, and Exos board member, is excited to be teaming with Enova. "Together we are turning a good idea into a reality in the marketplace. Exos is our common vision to make a serious difference in a field that we believe is long overdue for new technology. Casting has seen little improvement over the past twenty-five years when compared with other medical fields and we intend to raise it to a new level."
Patents are pending on the OrthoFoam technology. Exos bracing, splinting and casting products will be considered Class I medical devices according to FDA regulations. The first product launch is expected in early 2008.
Enova Medical Technologies, a privately held company, is engaged in the development and commercialization of proprietary medical devices and is an experienced provider of product development, manufacturing, and commercialization services for the medical device industry. From Class I to Class III devices, Enova understands the technical challenges of product design, engineering, research and development, the regulatory steps required to successfully commercialize products, and the marketing and sales efforts needed to move inventory off the shelf. For more information, visit http://www.enovamedical.com.
Product Innovations, a privately held company, was founded in 1982 in Aspen, Colo., and has developed a wide variety of products for the lighting, footwear, outdoor, sporting and ski industries. For more information, visit http://www.comfort-products.com.
Enova Medical Technologies, Inc.