As stated by multiple recognized data sources, the global ostomy care/stoma care market is expected to reach USD $3.41 Billion by 2021; up from USD $2.62 Billion in 2016 and anticipated to grow at a CAGR of 5.4% from 2016 to 2021. The global stoma care market is broadly classified into product, type of usability, type of end user, and region. Commenting on the positioning of the company and the value of the relationship with Flexpoint, Mr. Seres, 11 Health and Technologies Inc. CEO stated, "we are tremendously pleased to be exploring our future together as technology partners." Adding that "the Flexpoint Bend Sensor represents a huge leap in realizing the development of wearable sensors in healthcare."
According to Paul Sexauer, Flexpoint VP Sales & Marketing, "We are extremely proud to have established this exciting 11 Health relationship. The ostom-itm Alert Sensor represents a huge leap forward in quality of care/quality of life for these patients. The Bend Sensor® and our willingness and ability to collaborate with partners like 11 Health are clear difference makers for us. Flexpoint remains keenly focused on the development of strategic, product partnerships in the medical (IoT) device markets."
The company is currently fulfilling orders from 11 Health to support development and fulfill established system demand, and anticipates sustained, production PO's in 2017 and beyond. As 11 Health ramps up their global commercialization efforts in early 2017, achieving desired market share growth, sensor sales volumes are expected to grow in kind.
About Flexpoint Sensor Systems, Inc.
Flexpoint Sensor Systems, Inc. (FLXT) is an innovative technology firm specializing in developing products that feature the Company's patented Bend Sensor® and related technology. The Bend Sensor® is a groundbreaking sensing solution that is revolutionizing applications in many industries such as sports/fitness, automotive, safety, medical and industrial; some of which can be further categorized in the rapidly growing "wearables" space. The Bend Sensor's single-layer, thin film construction cuts costs and mechanical bulk while introducing a range of functions and stylistic design possibilities that have never before been available in sensing technology. Flexpoint's technology and expertise have been recognized by the world's elite business and academic innovators for over 17 years. The company is setting a new standard for sensing solutions in the "smart" age of technology.
About 11 Health and Technologies Inc.
11 Health and Technologies Limited is a connected medical device company, where all of their patented devices use Bluetooth® wireless technology to send secure real-time data to most mobile devices, including smartphones, tablets and watches. Data is stored on a HIPAA compliant cloud server and then shared with physicians, clinicians, nurses and family members who care for patients. 11Health's engineering teams work closely with patients, nurses and physicians to create the most elegant and seamless end user experience across all of their ostomy solutions. For more information visit www.11 Health.com.
This press release contains certain forward-looking statements. Investors are cautioned that certain statements in this release are "forward-looking statements" and involve both known and unknown risks, uncertainties and other factors. Such uncertainties include, among others, certain risks associated with the operation of the company described above. The Company's actual results could differ materially from expected results.
Flexpoint Sensor Systems
Clark Mower, President
Brokers and Analysts
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/11-health-and-technologies-inc-welcomes-flexpoint-sensor-systems-as-their-development-partner-for-advanced-medical-iot-devices-300419288.html
|SOURCE Flexpoint Sensor Systems, Inc.|
Copyright©2017 PR Newswire.
All rights reserved
Related biology technology :
1. CloudMine and Infor Partner to Accelerate Digital Transformation in Healthcare
2. PMG Research and Piedmont HealthCare Announce Clinical Research Partnership
3. TeleHealth Medical Group Introduces World’s First Guaranteed Rehabilitation Program for Stroke Victims
4. AMRI to Present at Barclays Global Healthcare Conference
5. WuXi NextCODE to Present at 37th Annual Cowen and Company Healthcare Conference
6. Sangamo Therapeutics Announces Presentation At The Cowen And Company 37th Annual Health Care Conference
7. Cryoport Introduces CryoStork Next Flight Out Cryogenic Logistics Solution for the Reproductive Health Market
8. RowdMap, Inc. speaks at George Washington University Health Workforce Institute Speaker Series
9. ITL Limited adopte lappellation ITL Health Group pour unifier ses divisions sous une marque mondiale
10. ITL Limited agiert jetzt als ITL Health Group, um Bereiche unter globaler Marke zu vereinen
11. ITL Limited Rebrands to ITL Health Group to Unify Divisions under a Global Brand