Therma Bright Expands Market Presence with Innovative Venowave Medical Compression Device
TL;DR
Therma Bright Inc. secured a $1.43 million purchase order for 1,750 Venowave VW5 units, solidifying its position in the US compression market.
Venowave VW5 received a permanent Healthcare Common Procedure Coding System (HCPCS) code E0683 for treating circulation issues in lower extremities, marking a critical milestone for Therma Bright Inc.
Therma Bright's Venowave VW5 provides a comfortable mobile treatment solution for patients, accelerating recovery periods and managing pain, contributing to better healthcare outcomes.
Therma Bright's Venowave VW5 is the only Medicare-approved, reimbursable, mobile mechanical compression system under HCPCS code E0683 in the US, offering innovative healthcare solutions.
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Medical technology company Therma Bright Inc. has made substantial strides in the compression therapy market by securing significant distribution orders and obtaining crucial Medicare reimbursement codes for its Venowave VW5 medical device.
The company received a permanent Healthcare Common Procedure Coding System (HCPCS) code E0683 from the U.S. Centers for Medicare and Medicaid Services, marking a critical milestone for the lightweight, battery-operated compression pump. This designation makes Venowave the only Medicare-approved, mobile mechanical compression system in the United States.
Two key distribution partners have already demonstrated strong market interest. DME Authority placed an initial order of 25 units with 100% reimbursement, subsequently expanding to 175 more units. Another national distributor, Valor Medical, ordered 100 Venowave VW5 units, with potential for regular future purchases.
The distribution agreement with DME Authority includes a letter of intent for a comprehensive program targeting a minimum foundational inventory purchase of $2 million, with a total commitment of $6 million in device purchases by the end of 2025. The initial purchase order of 1,750 units represents potential HCPCS code reimbursements of approximately $1.43 million.
The global compression therapy market presents significant growth opportunities, with market research projecting expansion from $4.18 billion in 2024 to $6.72 billion by 2033, representing a compound annual growth rate of 7.30%.
Beyond the Venowave device, Therma Bright is also developing an acoustic AI Digital Cough Technology platform, pursuing FDA classification and potential Medicare reimbursement codes for this remote therapeutic monitoring solution.
These strategic moves position Therma Bright as an emerging innovator in medical device technologies, with potential for substantial market penetration in compression therapy and digital health monitoring solutions.
Curated from News Direct
