Apr 24, 2023
One of the most important milestones in the history of Bioservo Technologies has been achieved. The grip-strengthening glove Carbonhand is now available to the US market, and the process of establishing a commercial infrastructure of partner companies is initiated.
The US accounts for about 42% of the world market for medical devices and the assessment is that Carbonhand, assisting individuals with weak hand function, has great potential to help many patients.
"Having the opportunity to present Carbonhand to the US market has been one of the most important milestones in the company's history. Therefore, it is with extra great satisfaction that we, earlier than planned, can announce that Carbonhand is now available to the US market. The work is initiated to establish a commercial infrastructure of partner companies targeting relevant patient groups and healthcare providers." says Petter Bäckgren, CEO of Bioservo.
Discussions have been initiated with several companies that have shown interest in marketing and selling Carbonhand through their established sales channels, and a partner structure for the US is planned to be established by the end of 2023.
In parallel with establishing the commercial partner structure, the company is working to develop and execute a reimbursement strategy that will initially rely on existing Healthcare Common Procedure System (HCPCS) codes that describe medical devices like Carbonhand. These codes are used to describe and bill, among other things, medical devices and treatments.
Bioservo also plans to seek partnership opportunities with companies that currently have established sales through the Veterans Health Administration (VA) to facilitate Carbonhand use. The VA is the largest coordinated healthcare system in the United States and has 9 million individuals receiving covered care through VA facilities.
For more information, please contact,
Petter Bäckgren, CEO, Bioservo Technologies AB
Phone: +468 21 17 10
Mikael Wester, Marketing Director, Bioservo Technologies AB
Phone: +468 21 17 10
About Bioservo Technologies
Bioservo Technologies AB (publ) is a world-leading company in wearable muscle strengthening systems for people in need of extra strength and endurance. All our innovative products and systems are designed to keep people strong, healthy, and efficient. The company has a unique global position within soft exoskeleton technology for the hand, both for industrial applications to improve the health of workers and to improve the quality of life for people with reduced muscle strength. Bioservo Technologies was founded in 2006 in collaboration between researchers at the Royal Institute of Technology and a doctor at Karolinska University Hospital. Bioservo Technologies is a Swedish public limited company with headquarters in Stockholm.
FNCA Sweden AB is the company’s Certified Adviser on Nasdaq First North.
For more information, please visit www.bioservo.com