Healthcare Industry News: Elan
News Release - August 18, 2015
Theragen LLC Announces Acquisition of Neurotech North AmericaDeal represents Theragen’s commercial entry into the growing non-invasive therapeutics industry
LEESBURG, Va.--(Healthcare Sales & Marketing Network)--Theragen LLC, a privately owned medical device company, announced today the acquisition of Neurotech North America, a manufacturer of premier non-invasive stimulation products for orthopedics and spine indications. The purchase includes commercial rights to Rest of the World assets, excluding Germany, Switzerland and Austria.
Neurotech NA was a wholly owned subsidiary of BioMedical Research, Inc. (BMR, Galway IrEland) and a proven leader within the electrical stimulation industry. Its primary products include Kneehab XP® , cleared for quadriceps strengthening; and Neurotech® Recovery Back, a transcutaneous electrical nerve stimulation (TENS) and neuromuscular electrical nerve stimulation (NMES) technology cleared for the lower back.
“Neurotech’s products are proven and possess an exceptional safety record,” said Gary Grenter, President & CEO of Theragen. “After focusing the past 18 months on our R&D efforts, we are excited about entering the non-invasive therapeutics industry with these excellent products.”
“Theragen’s mission is to develop non-invasive therapeutic solutions using electrical, mechanical and other forms of energy that will provide relief for sufferers both prior to and post surgical intervention,” said Kimball Chen, Theragen Chairman of the Board. “This acquisition demonstrates our commitment to this mission as we incorporate Neurotech’s world-class technology, research and development into our portfolio.”
“I am pleased to be working again with Gary Grenter and J. Chris McAuliffe, our company’s Executive Vice President and Chief Operating Officer,” continued Chen. “This leadership team saw great success together at Biolectron and today’s acquisition marks the first of many significant achievements to come for Theragen.”
Theragen LLC is focused on developing non-invasive therapeutics for the treatment of disease and pain. To learn more about Theragen, including the Neurotech NA product lines, visit: www.theragen.com.
Source: Theragen LLC
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