Proception Medical – Ortho Innovations Incubator

Proception Medical, LLC is a medical device developer and incubator which, according to its founder, licenses commercially viable inventions from surgeon inventors, helps develop them, obtains the necessary commercialization approvals and then takes them through a limited launch. Proception has recently entered into exclusive agreements with two physician inventors for the development of their medical devices that are intended for the orthopedic extremity market.

Greg Kowalczyk, company principal and co-founder, said, ““Proception Medical is focusing on several therapeutic areas, but the orthopaedic extremity market, which is currently valued at $1.3 billion in the U.S. and is growing 10% per year, is a terrific target area for our first product entries. These first two products have tremendous clinical potential and together have the ability to improve the standard of care for over 832, 000 procedures annually in the U.S.” The procedures estimate is from iData Research.

Company officials plan to attend the annual meetings in Chicago of both the International Federation of Foot and Ankle Societies (IFFAS) and the American Orthopaedic Foot and Ankle Society (AOFAS) at the Hyatt Regency in late September. Kowalczyk reported that company management will be present at the society meetings assessing new invention opportunities and participating in strategic discussions with potential out-licensing commercialization partners.