Locally based cardiac data venture InvisionHeart is one of five companies to have been named a finalist in Sink or Swim, a pitch competition that's part of this week's Healthcare Supply Chain Association Expo in D.C. Also in the mix are Michigan, North Carolina, Pennsylvania and Illinois. They will go before a panel of judges Tuesday. There's no money to be won, but the winner will get some advice sessions with group purchasing organization executives.
The long road to the U.S. market for the Augment bone graft developed by Biomimetic Therapeutics is just about at an end. Executives at parent company Wright Medical on Tuesday said they've received final Food and Drug Administration clearance to sell Augment for ankle and hindfoot fusions. Check out the Wright team's news release here.
The Company continues to anticipate AUGMENT® revenue in the U.S. to be in the range of $10 million to $12 million in the first seven to eight months post-approval. The revenue ramp is expected to build gradually during the first six months following the launch of the product as launch activities, such as review by hospital value analysis committees and physician education, are initiated. The company expects to begin selling product in the U.S. in the next several weeks once inventory is moved into its U.S. distribution network.
Cardiac technology company InvisionHeart is the newest tenant at the CET Life Sciences Center, a partnership between Cumberland Pharmaceuticals, Vanderbilt University and the state of Tennessee.
"We are very pleased to welcome InvisionHeart to the growing community of health care entrepreneurs at the CET Life Sciences Center," A.J. Kazimi, Cumberland Pharmaceuticals CEO, said in a release. "We are committed to helping build the biomedical segment of the health care industry in Middle Tennessee."
InvisionHeart raised $1.9 million last year and most recently hired Melanie Varin, formerly with GE Healthcare, to lead commercialization efforts. The company's devices allow health care providers to read and transmit real-time electrocardiogram tracings to cardiologists. The company is the sixth tenant at the CET Life Sciences Center.
"We are delighted to join the community of companies at the CET Life Sciences Center,” said Josh Nickols, President and CEO of InvisionHeart. “Our office is a great fit for the needs of a collaborative, team-oriented layout, as well as being suited to the requirements of a controlled manufacturing location. The center is conveniently located near the resources of Vanderbilt University, the Nashville Entrepreneur Center, and other healthcare companies that have supported development of the InvisionHeart ECG technology. This location and the second half of 2015 will be vitally important as we prepare for the introduction of our products to the market."
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