Flexpoint Sensor Systems and Medical Technology Partner Neofect Remain on Remarkable Growth Path Together
DRAPER, Utah, Nov. 2, 2017 /PRNewswire/ -- Flexpoint Sensor Systems, Inc. (FLXT) today announced receipt of multiple and recurring purchase orders from award winning medical rehabilitation technology provider, Neofect.
Neofect's FDA approved RAPAEL platform is an advanced medical IoT application. The RAPAEL Smart Glove System features an array of Bend Sensors® among other technologies, and measures hand, wrist and individual finger movement. Data is transmitted via Bluetooth and the software creates training augmented reality games customized to a patient's abilities and goals. It has been adapted to serve patients spanning a wide range of ages - adults and children.
The most common end users are stroke victims and Parkinson's disease victims. 15 million people per year suffer from a stroke. In the US alone, someone has a stroke every 40 seconds. It is a leading cause of long-term disability, costing the national economy $34 billion.
This year has proven pivotal in Neofects' growth as they expanded their global presence and increased marketshare in their target markets catering to a growing customer base. A base comprised of hospitals, clinics and "out of clinic" or at home patients. The latter is a group showing rapid adoption leveraging this engaging technology at home.
According to Paul Sexauer, Flexpoint Vice President of Sales & Marketing, "Neofect's growth is attributable to multiple advantages. Among them are their strong, visionary leadership, an innovative technology platform, a creative and increasing software portfolio as well as some creative marketing and pricing programs. Flexpoint is proud to be a partner to Neofect."
Next year is expected to be a breakthrough year and bring further collaborative design/development efforts for state-of-the-art and next generation technologies with Neofect. Sexauer further commented, "As with many of our partners, we engage with and support their design teams in any way we can to help them achieve success. To be an integral part of that success is always quite special."
In 2016, the Bend Sensor® was selected for use in the RAPAEL Smart Glove System. The system was recognized as a 2017 CES award winner for innovation in the Health, Fitness and Biotech category.
Flexpoint continues to regularly receive requests for Bend Sensors® for a wide array of consumer electronics applications. As previously announced, the company is actively expanding their global distribution to include direct customers, resellers and distributors which cater to these and other market segments.
Please visit http://www.flexpoint.com/ for more information.
About Flexpoint Sensor Systems, Inc.
Flexpoint Sensor Systems, Inc. (FLXT) is an innovative technology firm specializing in developing products that feature the Company's patented Bend Sensor(®) and related technology. The Bend Sensor(®) is a groundbreaking sensing solution that is revolutionizing applications in the automotive, safety, medical and industrial industries. The Bend Sensor's single-layer, thin film construction cuts costs and mechanical bulk while introducing a range of functions and stylistic design possibilities that have never before been available in sensing technology. Flexpoint's technology and expertise have been recognized by the world's elite business and academic innovators for over 17 years. The company is setting a new standard for sensing solutions in the "smart" age of technology.
Forward-Looking Statements
This press release contains certain forward-looking statements. Investors are cautioned that certain statements in this release are "forward-looking statements" and involve both known and unknown risks, uncertainties and other factors. Such uncertainties include, among others, certain risks associated with the operation of the company described above. The Company's actual results could differ materially from expected results.
Contact Information:
Flexpoint Sensor Systems
Clark Mower, President
801-568-5111
Brokers and Analysts
Chesapeake Group
410-825-3930
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SOURCE Flexpoint Sensor Systems, Inc.
