Halifax IV Innovator Poised for Growth
New Support for EnginuityMED assists with Market Launch and Second Generation Product Development
October 20, 2014 – Halifax, NS –A new injection of support will assist Halifax’s EnginuityMED with the market launch of its Fluid IV Alert (FIVA) technology and the development of a second generation product.
FIVA is a battery-powered device that clips onto IV bags, monitors fluid levels and alerts medical professionals when the bag is empty. The product addresses a common problem in operating rooms, emergency rooms and ambulances. Approximately 30% of IV bags run out of fluid without clinicians noticing, posing risks to patients.
The idea was originally conceived by Dr. Orlando Hung, an active Anesthesiologist at Capital District Health Authority. Dr. Hung joined forces locally with two engineering and two business development experts to form EnginuityMED. Within just nine months, the team advanced FIVA from concept to first sale.
To maintain EnginuityMED’s momentum, the Government of Canada is providing a $150,000 repayable contribution to the company, through the Atlantic Canada Opportunities Agency (ACOA)’s Business Development Program (BDP).
EnginuityMED has used the support to develop product moulds and demo units which it will showcase at conferences and tradeshows. They are hiring a marketing manager to develop the brand and are now able to promote and sell FIVA online through an e-commerce enabled website (http://www.enginuitymed.com). The BDP project also enables the company to engage in trademarking and regulatory activities for FIVA to be marketed outside of Canada.
Additionally, ACOA’s support is assisting with the development of a second generation product. Urology professionals have approached EnginuityMED to develop a device with a larger capacity to monitor fluid provided to patients on urology wards. The company will hire two new research and development staff to design and develop the product.
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