TAIPEI, Sept. 25, 2024 /PRNewswire/ -- Flat Medical, a leading innovator in medical technology, today announced its acquisition of key assets from InjeQ, including the FDA-designated breakthrough device, IQ-Tip®. This strategic move bolsters Flat Medical's leadership position in the medical device market and expands its portfolio of cutting-edge healthcare solutions.
The acquisition includes InjeQ's intellectual property, technology assets, and the IQ-Tip® system, which has received the coveted FDA Breakthrough Device Designation. This designation is reserved for medical devices that have the potential to provide more effective treatment or diagnosis of life-threatening or irreversibly debilitating conditions.
Liyu Lin, CTO of Flat Medical, commented on the acquisition: "We are thrilled to welcome InjeQ's groundbreaking technology into the Flat Medical family. The IQ-Tip® represents a significant advancement in tissue recognition technology, and we're excited to leverage our resources and expertise to bring this innovative solution to healthcare providers and patients worldwide."
The IQ-Tip® is a smart needle system that uses bioimpedance-based tissue recognition technology. It allows for precise identification of various tissue types, improving the accuracy and safety of numerous medical procedures.
"While the IQ-Tip® has shown impressive results in lumbar punctures, its potential extends far beyond that," added Lin. "This versatile technology has the capacity to revolutionize a wide range of clinical interventions that require accurate tissue identification. We envision its application in various fields of medicine, enhancing precision and patient safety across multiple procedures."
Flat Medical plans to accelerate the development and commercialization of the IQ-Tip®, ensuring it reaches healthcare providers and patients as quickly as possible. The company is committed to continuous development of the technology, exploring its applications in diverse medical fields beyond its current use.
"Our vision for the IQ-Tip® technology goes beyond its current applications," Lin explained. "We're dedicated to ongoing research and development to uncover new potential uses across various medical specialties. Additionally, we're focusing on making the system more mobilized and affordable, aiming to bring its benefits to a wider range of healthcare settings, including resource-constrained environments."
This commitment to innovation and accessibility aligns with Flat Medical's mission to create groundbreaking medical technologies that prioritize patient outcomes and improve healthcare delivery globally.
Financial terms of the deal were not disclosed.
About Flat Medical:
Flat Medical is a pioneering medtech company dedicated to developing innovative safety and precision solutions for anesthesia, pain management, intensive and critical care. Its flagship products, EpiFaith and EpiFaith CV, are at the forefront of patient safety, providing medical professionals with advanced tools to ensure successful and secure procedures. Headquartered in Taipei City, Taiwan, Flat Medical is committed to making a difference in the healthcare industry by creating groundbreaking medical technologies that prioritize patient outcomes.