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AICEP
Agência para o Investimento e Comércio Externo de Portugal

CABEÇALHO

Hovione Capital, a leading venture capital firm investing in and building disruptive life science companies across Europe, announced that its portfolio company Adapttech established a strategic partnership with Cascade, a North American distributor of orthotics and prosthetic products.

Adapttech’s INSIGHT system is a medical device designed to improve the socket fitting process involved with lower-limb prostheses. It combines a 3D scanner, sensors, wearable technology and a mobile app to make it faster and easier to reach comfortably-fitted prostheses and monitor patients’ rehabilitation process. Following several successful outcome studies in the US, the INSIGHT system is now being made available to the wider North American market.

 

Cascade will provide Adapttech’s INSIGHT system through its distribution network across the US and Canada. This follows a period of investment and close involvement by Hovione Capital, the first investor in Adapttech, a company born in Portugal and now headquartered in the UK.

 

Cascade has been serving prosthetic clinics across the US for nearly 50 years, and in Canada through its subsidiary, OrtoPed. “We target the latest advancements in technology to provide practitioners the products they need quickly and efficiently”, said John Cronin, Director of Sales and Marketing, Cascade. “With technology like INSIGHT that aims to reduce the time needed for clinical evaluation and prosthesis fitting, there has never been a better time for this type of product. Patients spend less time in the clinical environment, and with a better fitting prosthesis, each patient can take control of their own daily activities and overall health. We are looking forward to bringing the INSIGHT System to our customers.”

 

“Clinicians will appreciate spending less time attending to patients with limb-socket problems and patients will spend less time visiting and re-visiting the clinic. Increasing the socket comfort for patients has increased their activity level and our initial tests have shown over 30% of patients going from a K3 to a K4 activity level”, said Frederico Carpinteiro, CEO, Adapttech

 

In 2016, Hovione Capital provided the initial seed capital to Adapttech. “Hovione Capital was the first investor to recognize the high potential of Adapttech’s breakthrough technology to improve prosthesis fitting. Since the beginning, Hovione Capital has worked alongside Adapttech’s team to develop and bring their technology to market, creating their IP protection and improving engineering design”, said Ricardo Perdigão Henriques, CEO, Hovione Capital. “Adapttech is an extraordinary example of how healthcare-specialized venture capital enabled a startup from Portugal to expand into the UK and North America, ultimately providing a breakthrough medical product to patients in need.”

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