An Inspired deal
DES MOINES, Iowa - Evo Medical Solutions got just what it wanted when it acquired Inspired Technologies in mid-December: control of what Evo CEO Dan Bunting considers game-changing technology, the SmartDose auto-adjusting conserving device.
"When I discovered that Inspired investors wanted to get out and they approached me--just like they approached everyone else in the industry--I didn't really think I had a chance," Bunting said. "(SmartDose) is the only one of its kind."
Terms of the deal were not disclosed.
Evo, which manufactures and distributes respiratory equipment, announced the acquisition Jan. 4. The company now adds the SmartDose to a product line that includes nebulizers, pulse oximeters, suction devices, CPAPs and sleep masks.
As the market's only auto-adjusting conserving device, the two-year-old SmartDose is designed to deliver the proper amount of oxygen, depending on the activity being performed, whether that's walking or resting. As a result, Bunting said, the patient is less likely to desaturate.
The SmartDose appeals to HME providers who are intent on establishing good clinical standing with physicians: "In this day and age, people are looking for an edge, and the SmartDose can give the physician peace of mind," Bunting said.
Prior to the acquisition, Evo distributed SmartDose, but it was at a competitive disadvantage, because Inspired sold it direct to HME providers, including Lincare, Bunting said.
"Lincare could buy the product from Inspired at the same price I bought it," he said. "We couldn't make any traction."
By redesigning the SmartDose to run on AA disposable batteries rather than a rechargeable battery, the unit is now priced competitively with other electronic conservers on the market, Bunting said.