Fishers-based Recovery Force LLC took a big step this month toward its goal of bringing a high-tech compression garment to the health care market.
The 5-year-old company announced Feb. 23 that it received U.S. Food & Drug Administration clearance to market the RF 1400 Compression Wrap, which is designed to improve blood flow and enhance recovery for people battling serious health issues, including deep vein thrombosis pulmonary embolism.
Recovery Force plans to bring several consumer products to market by the end of the year, including garments for athletes, military personnel and even average people with muscle or joint pain.
The products will use the company’s trademarked Active Compressions shape-change technology, which uses memory fibers embedded with microprocessors and metal alloys.
The health care industry could be a big market for Recovery Force. Deep vein thrombosis and pulmonary embolism are dangerous medical conditions that affect as many as 600,000 Americans and result in 100,000 annual deaths.
In addition to the FDA approval, Recovery Force was awarded a $244,167 Phase I Small Business Innovation Research Grant from the National Institutes of Health to further its research into its compression technology.
As a recipient of the grant, Recovery Force will have the opportunity to submit a Phase II SBIR proposal that could yield funding of up to $1.5 million for complete commercialization.
“Our team has worked tirelessly to create a paradigm shift in the sequential-compression market, and FDA’s clearance is a major milestone for our first medical-grade product specifically designed for the healthcare space,” Recovery Force CEO and founder Matt Wyatt said in a written statement. “Receiving an NIH grant to advance our research is further validation that we are on the right path.”
The NIH grant also qualifies Recovery Force to recieve an additional under a matching program from the Indiana Economic Development Corp. and Elevate Ventures.
The company also is seeking a Phase I SBIR Grant for a diabetic shoe application.
Recovery Force LLC is headquartered at Launch Fishers, a business accelerator. It has a satellite office in a health care business incubator in Chicago.
The company has 10 employees and already has raised several million dollars in venture capital.