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Joseph Mark, Chair of the Board of Directors, said, "AposTherapy has entered into an exciting phase with double digit quarter over quarter growth and a management team focused on increasing distribution, payer coverage, and bringing enhanced products and capabilities to the market"
Fremont, CA: Apos Medical Assets, a global medical device company operating in U.S., UK, Israel, and Singapore, secured $11 million in a new round of funding. The investment was led by the current investor aMoon with major participations from Apos’ insiders and directors.
Joseph Mark, Chair of the Board of Directors, said, "AposTherapy has entered into an exciting phase with double digit quarter over quarter growth and a management team focused on increasing distribution, payer coverage, and bringing enhanced products and capabilities to the market."
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The[vendor_logo_first] company intends to use the new fund to expand its business into new territories with increased sales capabilities, direct to consumer marketing, and account management expertise. Funding can support R&D into the next generation AposTherapy device with built-in sensor technology that can deliver real-time biometric data to the cloud, upgraded clinical tracking system to support customers, enhanced business intelligence for managing the company's increasingly sophisticated data sets, and behavior modification technology.
ApposTherapy is an ingenious, FDA approved treatment for knee osteoarthritis and is qualified as a wellness device for use in other musculoskeletal conditions such as lower back pain. AposTherapy works on neuromuscular and biomechanical levels. It combines a foot-worn patented medical device with a treatment program that addresses the underlying causes of pain by shifting the pressure away from painful areas and providing a prolonged neuromuscular effect by re-educating muscles to a healthier walking pattern, even when not wearing the device.
Apos Medical Assets Ltd CEO and President Cliff Bleustein said, "This funding round is a continued validation of our success in creating value for payers, new treatment options for providers, and solutions for patients living with musculoskeletal pain. AposTherapy decreases pain, improves function, and is a potential alternative to invasive surgery for people with knee osteoarthritis, and is used as part of a healthy lifestyle in patients suffering from chronic back and hip pain. With rapid expansion and growth in existing and new territories including New York, New Jersey, Puerto Rico, California, Massachusetts and Pennsylvania, AposTherapy is poised to have a breakthrough year in 2020.
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