Press Release: Spring Loaded Technology Poised for Continued Growth After Receiving ACOA Investment and Launching Enhanced Solution for Millions Fighting Osteoarthritis
Spring Loaded Technology announced today an enhanced solution for the 14 million people in North America living with knee osteoarthritis through their latest product development efforts.
Dartmouth, NS – May 15, 2018 – Spring Loaded Technology announced today an enhanced solution for the 14 million people in North America living with knee osteoarthritis through their latest product development efforts.
Last June Spring Loaded Technology launched Levitation®, the world’s first compact and powerful bionic knee brace. Levitation® is the only brace on the market designed to reduce forces in all three compartments of the knee. Today, the company launched its newest product update, the Levitation® Offloader.
“With the launch of the Levitation® Offloader, we’re able to offer customized relief to further reduce pressure on the worst-affected compartment of the knee,” said Chris Cowper-Smith, CEO of Spring Loaded Technology. “This allows us to better support a wider range of osteoarthritis patients, to reduce wear and tear and provide the pain relief they need.”
Offloader knee braces are the standard for treating patients with knee osteoarthritis; however, conventional offloader knee braces only address uni-compartment tibiofemoral arthritis, accounting for less than 4% of knee arthritis cases. Thanks to its bionic hinge, Spring Loaded’s knee brace is the only one capable of reducing forces in all three compartments of the knee – a tri-compartment solution.
Darren Fisher, Member of Parliament for Dartmouth-Cole Harbour, was onsite for the launch announcing a $460,000 investment from the Government of Canada, through the Atlantic Canada Opportunities Agency’s (ACOA) Business Development Program, to further support the Dartmouth-based company.
“Dartmouth benefits greatly from having companies such as Spring Loaded choosing to do business here,” said MP Fisher who was participating on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for ACOA. “Not only is Spring Loaded an employer of highly skilled people in the area, but it is also making significant strides in the quality of care for people with mobility issues all around the world. The Government of Canada is pleased to continue to support its long-term growth and sustainability.”
Now ramping up for rapid new product development and scaling operations for growth across Canada and the US, the company will use the latest investment from ACOA to intensify marketing efforts, increase production through additional equipment and update various enterprise software systems.
Director of Marketing, Spring Loaded Technology
Director of Communications and Outreach, Atlantic Canada Opportunities Agency
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