ENvue Medical Inc. (NASDAQ:FEED) on Tuesday announced a purchase of the ENvue Navigation Platform and feeding tubes by a teaching hospital and Level I Trauma Center in the Detroit metropolitan area.
The Navigation Platform is designed to integrate into existing clinical workflows.
It is a minimally invasive electromagnetic navigation system intended to assist clinicians in placing feeding tubes into the gastrointestinal tract.
FDA-Cleared Technology Enables Real-Time Visualization
ENvue Medical, rebranded from NanoVibronix Inc., is a medical technology company specializing in the advancement of non-invasive solutions for enteral care across clinical and home care settings.
FDA 510(k) cleared for adult use, ENvue provides real-time bedside visualization of tube movement and supports informed decision-making during the placement procedure.
Future platform expansion may include pediatric and vascular access applications.
The purchase expands ENvue’s presence within a major Southeast Michigan health system, where the company has previously deployed its platform.
The update brings ENvue’s U.S. hospital footprint to 39 hospitals.
Large Teaching Facility Adds To Strategic Growth
The facility operates as a 714-bed major teaching hospital.
It offers comprehensive specialty institutes in oncology, cardiovascular care, and pediatrics, and manages a broad network of critical care environments.
Management Highlights Strategic Account Expansion
“We believe that this partnership represents the strategic account expansion we are focused on nationwide,” said Marc Waldman, Vice President of Commercial at ENvue Medical.
“Hospitals are increasingly prioritizing real-time visualization and greater standardization in feeding tube placement,” said Doron Besser, CEO of ENvue Medical.
In January, ENvue Medical inked a distribution agreement with U-Deliver to distribute ENvue’s recently launched over-the-counter reusable ENFit Syringes product line nationwide through non-acute care channels.
The over-the-counter ENFit Syringes are designed to meet both feeding and medication delivery clinical needs.
FEED Price Action: ENvue Medical shares closed at $1.43 on Monday, according to Benzinga Pro data.
Image via Shutterstock
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