SOMERVILLE, Mass. and CHATSWORTH, Calif., Aug. 22, 2019 /PRNewswire/ -- Podimetrics, a care management company with the leading solution to help prevent costly and deadly diabetic foot ulcers, and NEO Tech, a leading provider of engineering, manufacturing technology and supply chain solutions for brand name OEMs in the industrial, medical and mil/aero markets, announced a new manufacturing partnership to produce Podimetrics' FDA-cleared SmartMat at the NEO Tech facility in Westborough, Mass. The new manufacturing lines at NEO Tech will increase production capacity to meet the growing demand of the SmartMat.
"We are thrilled to be able to scale up the production of our SmartMat right here in Massachusetts, thanks to NEO Tech's end-to-end supply chain and manufacturing capabilities," said Dr. Jon Bloom, CEO of Podimetrics. "As we expand to bring our solution to more patients, we're so proud to also contribute to the manufacturing economy in our home state."
With Podimetrics, patients at risk for diabetic foot ulcers simply place their feet on the cellular-connected SmartMat for just 20 seconds a day. The data is then seamlessly and automatically sent to the Podimetrics care team, who triage any concerning findings to help patients receive appropriate, preventive treatments under the direction of their clinician. While diabetic foot ulcers are but one complication of diabetes, they have a devastating effect on patients' lives, often progressing to debilitating wounds and amputations, and they are a significant driver of health care costs -- a single amputation costs up to $100,000.
Podimetrics celebrated the new manufacturing line at NEO Tech with a ribbon-cutting ceremony attended by U.S. Rep. Jim McGovern, Massachusetts Deputy Secretary of Housing and Economic Development Timothy McGourthy, State Rep. Hannah Kane, and State Rep. Danielle Gregoire. The delegation presented Podimetrics with an official citation in recognition of this milestone.
"Podimetrics is a great example of the innovative health care companies that thrive in Massachusetts -- they not only provide care management services, but they also manufacture a high-tech medical device here," said McGovern.
"Westborough is home to a talented skilled manufacturing workforce and it's exciting to see another company, particularly one that supports our military veterans, thriving and supporting jobs at NEO Tech," said Kane.
"We are honored that Podimetrics selected NEO Tech as their manufacturing partner," said David Brakenwagen, NEO Tech EMS President. "NEO Tech is committed to supporting the Podimetrics manufacturing ecosystem enabling widespread adoption of their innovative technology, while at the same time becoming a catalyst that creates new jobs here in Westborough."
The NEO Tech Westborough location is ideal for the growing market demands within the Northeast region and supports Podimetrics' long history of collaborating in the design and manufacturing of circuit boards. With proximity to the innovation centers in New England, the location possesses a great balance of skilled labor and strong concentration of medical-technology companies, like Podimetrics. NEO Tech expanded into the current location in 2017 and the site features a total space of 198,000 sq. ft. NEO Tech's investment in Massachusetts-based manufacturing enables it to build more new products like Podimetrics' SmartMat locally.
This May, Podimetrics announced it had closed a $13.4 million Series B funding round. This funding is contributing to Podimetrics' growth, including its presence within the VA, where one out of every four veterans has diabetes and 80 percent of non-traumatic amputations are from a diabetic foot ulcer. The VA recently released a national guidance document recommending Podimetrics for high-risk patients. The company will continue to grow its business among commercial payers.
Podimetrics is a care management company with the leading solution to help prevent diabetic foot ulcers (DFU), one of the most debilitating and costly complications of diabetes. On behalf of payers and at-risk providers, we send high-risk patients our FDA-cleared, cellular-connected SmartMat. After placing their feet on the mat for just 20 seconds a day, patients' data are automatically sent to our care management team that triages any concerning findings. By combining cutting-edge technology with best-in-class care management, Podimetrics earns high engagement rates from patients and allows clinicians to achieve unparalleled outcomes saving limbs, lives, and money. Founded in 2011 by a physician and engineers from MIT and Harvard, Podimetrics is headquartered in Somerville, MA and backed by Norwich Ventures, Scientific Health Development, and Rock Health. For more information, go to www.podimetrics.com or follow us on Twitter @podimetrics.
About NEO Tech
NEO Tech combines the strengths of three leading contract manufacturers: NATEL, EPIC, and OnCore. With over 40 years of heritage in electronics manufacturing, NEO Tech focuses on low-medium-volume/high-mix, high-complexity products primarily in the medical, defense/aerospace and industrial markets.
NEO Tech offers full product lifecycle engineering services, manufacturing and testing of microelectronics, cable & harness interconnect products, PCBA, full box build services and aftermarket repair and fulfillment services. The companies that form NEO Tech have been known for solving tough engineering problems that result in high-reliability, high-quality electronic solutions for customers.
Headquartered in Chatsworth, CA, NEO Tech has manufacturing and engineering locations in California, Colorado, Illinois, Massachusetts, Nevada, Ohio, Mexico, and China. NEO Tech holds and maintains industry specific certifications that include ISO9001, AS9100, ISO13485, and MIL-PRF-38534. To learn more, visit www.NEOTech.com.
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SOURCE NEO Tech