Rolling Meadows, Il., April 14th, 2017 – We are pleased to announce that VitaHEAT Medical®, LLC (“VitaHEAT®”), officially entered into its second strategic partnership with 3M Company, which includes both an equity investment and an exclusive U.S. distribution agreement. April 14, 2017, 3M closed a Series A preferred equity investment in the Company. VitaHEAT® will use proceeds from the investment to achieve scale and develop its next generation of patient warming technologies. The stage was set for this transaction on August 31, 2016, when 3M entered an exclusive multi-year strategic partnership with VitaHEAT® for U.S. distribution of VitaHEAT’s® UB3 patient warming system. This transaction represents another successful strategic business advancement for VitaHEAT®.
VitaHEAT Medical® and 3M have worked together over the past eight months building a solid foundation for success through the first agreement with exlusive distribution of the VitaHEAT UB3 through the 3M team. This includes messaging that focuses on 3Ms consultative approach to maintaining normothermia throughout the perioperative process by providing customers with a comprehensive patient warming solution. Integration of the VitaHEAT UB3 into 3Ms overall patient warming product portfolio further expands upon the ability to provide clinicians with multiple tools. The 3M team was trained in late January and the field based collaborations began in February of 2017.
The VitaHEAT® UB3 system is an under-body patient warming system that uses conductive ink technology, featuring both battery and plug-in AC accessory options. The ability to easily warm patients throughout the perioperative experience is a key compotenent of keeping patients in normothermia. VitaHEAT UB3 is engineered for safety and easy to use. It is always on and can be used throughout all perioperative phases due to the AC and Battery design.
“We are pleased that 3M, has continued to invest in our company and will continue to help grow broader portfolio of solutions for patients. We are dedicated to providing innovative patient warming solutions to reduce health care costs and improve patient outcomes and this partnership will help us more quickly bring this technology to hospitals and health care professionals,” said Peter Farmakis, CEO, VitaHEAT Medical.
VitaHEAT launched its UB3 patient warming system in January of this year following five years of product development. The system was designed under the FDA’s 21 CFR part 820 quality management system. It includes eight interactive temperature sensors to actively monitor temperature and six independent heating zones to provide consistent control of the warming surface.
ABOUT VITAHEAT MEDICAL VitaHEAT Medical® is a privately held medical device company dedicated to continually providing innovative patient warming solutions reduce health care costs and improve patient outcomes. With five years of product development investment, 100 percent of VitaHEAT’s® focus is on patient warming. VitaHEAT® products are developed and manufactured in the U.S.A. The company is headquartered in Rolling Meadows, Illinois. For more information, please visit VitaHEAT’s website. http://vitaheatmedica.wpengine.com?