After receiving FDA approval for its wearable cold laser therapy and data collection device, Penta Medical is now on the sales and marketing trail, targeting sports teams, orthopedic doctors and physical therapists with its PentaVO device.
“Our device is the only portable clinical-quality device on the market for inflammation-related chronic and acute injuries, ranging from tendon and muscle strains and tears to arthritis and common pain,” co-founder and CEO, Alexa Roeper, says in an interview with BioTuesdays.
“PentaVO has an important role in increasing patient compliance and tracking injury progression, and we believe it is more effective than, yet still complementary to ultrasound treatment,” she adds.
PentaVO is a fully connected, industry-leading, portable laser therapy and data collection device. It’s built for reliable, unsupervised, on-the-go use.
The system asks for the location and type of injury, severity of pain and range of motion. The data is sent back to the device to customize treatment as would happen in a clinic.
“We determined that laser therapy is the most versatile treatment based on existing modalities,” she adds. It can also be used for post-surgical recovery but is limited by the depth of penetration.
Depending on the type of injury, the device is usually worn for six to eight weeks or for the entire length of an injury. “The PentaVO software sets the treatment for the patient and analyzes the data collected. Because the software becomes more accurate with use, this is the only tool to precisely measure injury progression,” she says.
Roeper explains that the athletic market represents a potential of 600 customers and a $30-million market, and is a stepping-stone to the much larger clinical market, which represents 124,000 customers and a revenue opportunity of more than $6-billion, with 10% annual growth.
“In the first 30 days on the market, we generated $100,000 of annual recurring revenue, consisting of hardware and software sales on a subscription model for physical therapy clinics, and we’re projecting to close another $500,000 in sales over the next eight-to-12 months,” she adds.
“We are seeing people using the product, liking it and referring it to their friends.”