New Support for EnginuityMED assists with Market Launch and Second Generation Product Development
October 20, 2014 – Halifax, NS – Atlantic Canada Opportunities Agency
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.
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 (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.
- FIVA (pronounced FEE•va) stands for Fluid Intravenous Alert.
- EnginuityMED has drawn on the expertise of nurses, anesthesiologists and emergency medical technicians to develop a product that meets the needs of healthcare professionals.
- FIVA is priced at $225 per unit and is currently sold in Canada.
- FIVA is a Canadian-made product, designed and assembled in Nova Scotia, with casing and moulding built in Quebec.
“Our Government is pleased to support the market launch and continued growth of EnginuityMED’s innovative IV monitoring technology through the development of a second generation product. This small-but-mighty medical device, designed and manufactured locally, has the potential to improve patient care worldwide, while creating jobs and opportunities right here in Nova Scotia.”
- The Honourable Rob Moore, Minister of State (ACOA)
“EnginuityMED is delighted with ACOA’s support of our second generation product development. We’ve had a rapid learning curve with FIVA product release and are eager to continue to move clinician driven innovations forward at EnginuityMED.”
- Ben Garvey, Co-Founder, EnginuityMED