Wilmington, DE, February 25, 2011 --(PR.com
)-- Innovations Ventures, LP, with offices in Wilmington, DE and Lancaster, PA, is pleased to announce the acquisition of Inspired Technologies, Inc., by Iowa based manufacturer and distributor of respiratory products, evo Medical Solutions. Inspired Technologies is the manufacturer of SmartDose auto-adjusting oxygen conservation technology. With the addition of SmartDose, evo Medical enhances its already comprehensive line of respiratory products available to the homecare market.
The President and CEO of evo Medical, Dan Bunting, stated that “The people at Inspired have done a wonderful job bringing these products to market. This is a technology that should be on every ambulatory oxygen patient, and it is our responsibility to make that happen in a cost effective manner for our customers. Our goal in this transaction is to seamlessly integrate SmartDose into evo in Iowa. We intend to make this elite product the standard for all ambulatory oxygen patients, at a cost comparable to the other products on the market today.”
Inspired’s CEO, Rich Kocinski is says “In 28 years of product development and manufacturing, SmartDose is the best product I ever had. We are excited and pleased that evo has added this product to their line. They have a history of bringing unique and high value products to the market.”
Rich Kocinski, Inspired CEO, and Dave Pugh, Inspired Vice President of Sales, will both be joining the evo Medial Solutions executive team.
Terms of the transaction were not disclosed.
About Innovations Ventures, LP
Innovation Ventures, L.P. is an SBIC venture capital fund focused on growth and early-stage investments in the areas of chemicals and materials; electronic materials and devices; information technology; nanotechnology; software; biotechnology (excluding human therapeutics); and business information services related to the legal, financial services and manufacturing industries. IV invests in enterprises located primarily on the East Coast, with a particular emphasis on the Mid-Atlantic region—Pennsylvania, Delaware, and New Jersey.
For more information about Innovation Ventures, visit http://www.innovationventures.com
About evo Medical Solutions
Evo Medical Solutions specializes in the manufacture and distribution of respiratory products that help treat all stages of respiratory diseases. Aerosol products treat diseases such as asthma, COPD and other breathing disorders. Suction devices remove secretions in the upper airway of the lungs. Sleep products are designed to treat patients who suffer with Obstructive Sleep Apnea, OSA.
For more information about evo Medicalo Solutions, visit http://evomedical.com/.
About Inspired Technologies, Inc.
Inspired Technologies Inc: SmartDose delivers the ideal balance of saturation and conservation. When oxygen requirements are low, SmartDose reduces output so that oxygen isn’t wasted. When requirements increase, SmartDose delivers a dose adequate to keep the user properly saturated. Because the entire process occurs automatically, patient adjustment of the device is greatly reduced.
For more information about Inspired Technologies, Inc., visit http://inspiredtechnologiesinc.com