Healthcare Industry News: EEG
News Release - February 12, 2007
New Ownership and Merger Reshape Enova Medical
Company adds MedTreo products to its medical device lineST. PAUL, Minn., Feb. 12 (HSMN NewsFeed) -- With new leadership, products, and services, Enova Medical Technologies, LLC, is uniquely positioned to break down barriers for small companies entering the healthcare market. Terras Irradient, a privately-held investment partnership, acquired Enova on Oct. 26, 2006, and today announced significant changes taking place at the company.
"We are recreating Enova and in doing so, we're building an organization unlike any I have seen in the healthcare industry," said Stephen E. Smith, chairman of Enova. "We have literally and figuratively taken down the walls that get in the way of bringing new ideas to life. This company is truly a collaboration of experts, innovators, and entrepreneurs."
Within three months of acquiring Enova, Terras Irradient negotiated a merger with Minnesota-based company, MedTreo, LLC, and added the company's medical products to expand Enova's existing line. Furthermore, Enova now offers affordable development and commercialization services to other medical companies that are building and introducing new products and technologies to the healthcare marketplace. In addition to clean room assembly, packaging, and labeling capabilities, Enova is the only facility in the five-state area to offer in-house regulatory assistance and ETO (ethylene-oxide) contract sterilization services in an FDA-registered and ISO-certified facility.
"At MedTreo, we were constantly hitting the wall with sterilization requirements, packaging issues, and regulatory hurdles. As a small company with terrific products, we found it difficult and cost prohibitive to get our products into the hands of physicians," said Roger HEEGaard, founder of MedTreo. "We saw tremendous opportunity in Enova to build a full-service organization that helps smaller medical companies like MedTreo get past the hurdles and high costs of taking products to market."
Enova Medical Technologies, a privately-held company, is an experienced provider of product development, manufacturing, and commercialization services for the medical device industry. From Class I to Class III devices, it understands the technical challenges of research and design, the regulatory steps required to successfully commercialize products, and the marketing and sales skills needed to move inventory off the shelf. Enova's products benefit a number of medical specialties, ranging from first aid and emergency medicine to orthopedics, ob-gyn, and surgery. For more information, visit http://www.enovamedical.com .
MedTreo is a privately-held, early-stage medical products company that designs and develops innovative Class I and Class II medical products that improve the efficiency, effectiveness and quality of medical treatments. Its products are used in emergency, hospital, clinical, and sports medicine settings.
Source: Enova Medical Technologies
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