Therma Bright Inc (TSX-V:THRM, OTC:TBRIF) told investors that it has signed Hero LifeCare, a large healthcare and emergency device and solutions company, as a US distribution partner for marketing and selling its Venowave device.
The company said Hero LifeCare and its Rapid Oxygen subsidiary manufacture and market innovative healthcare and emergency response products. These include the R15, a US Food and Drug Administration (FDA)-cleared first aid emergency oxygen device developed in conjunction with the University of Michigan and designed to be placed next to a fire extinguisher or automated external defibrillator (AED).
Therma Bright said Hero LifeCare sees sales opportunities for Venowave to its current and growing customer base similar to the R15.
"This partner has deep connections and relationships with large medical and healthcare practices, as well as direct-to-consumer opportunities through its e-commerce site - herolifecare.com," commented Therma Bright CEO Rob Fia.
“Hero seeks innovative health tech solutions to help their patients and customers address a variety of health-related issues and/or symptoms, which led to the meeting of our two companies.”
The company said Hero LifeCare will initially use the nine temporary CMS CPT and HCPCS codes that other US distribution partners are currently using, while it awaits approval from the US Centers for Medicare and Medicaid Services (CMS) on the permanent Current Procedural Terminology (CPT) and Healthcare Common Procedure Coding System (HCPCS) codes.
Venowave is a compact and lightweight Deep Vein Thrombosis (DVT) prevention pump specifically designed for use at home. The Venowave device uses a continuous wave motion to increase blood flow in the veins. The increased blood circulation helps prevent venous stasis, which is a major contributor to thrombus formation.
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