ENTREVESTOR: Adaptiiv Lands Clients in 7 Countries

Read the original article here.  Halifax-based Adaptiiv has announced major new clients in Hong Kong and the U.S. as the young medical technology company expands its customer base to seven countries. The company – which uses 3D printing technology to improve radiation therapy in cancer treatment – said Monday it had signed a deal to sell its product to University of Hong Kong and work with the institution as a research partner. That announcement came days after Adaptiiv announced its 3D Bolus technology would be used by the U.S. Military at the Walter Reed National Military Medical Center.  Dubbed “The Nation’s Medical Center,” the Reed is the United States’ largest and most renowned joint military medical facility, providing services in over 100 clinics and specialties. “We have accomplished a lot in a short period of time and I am very proud of the team but I feel we are just getting started,” said CEO Peter Hickey in an email Sunday night. Just two years old, Adaptiiv has quickly found customers for its 3D Bolus product, which revolutionizes the use of a bolus in radiation therapy. A bolus is a piece of plastic placed over the cancerous area, assuming the tumours are close to or in the skin. The radiation hits the bolus, builds up and then is transferred into the tumour. There can be no air pockets between the bolus and the skin, which complicates matters given that every body is unique. Hospitals using the Adaptiiv product buy a system that includes 3D printers with special filaments, so boluses customized to each patient can be printed within seconds. They can be reused as the patient receives repeated radiation dosages. Or, if the patient’s body shape changes over the course of multiple treatments, the medical staff can print off another bolus quickly. In June, the company announced it had received 510(k) clearance from the U.S. Food and Drug Administration, allowing the product to be sold in the U.S. That opened the flood gates to more sales, and to announcements of new partnerships and projects. The company’s software is now used in the U.S., Canada, Australia, Israel, Ireland, England and now Hong Kong. The university in Hong Kong will use 3D Bolus in radiation therapy and its Department of Clinical Oncology will work with Adaptiiv to develop new applications. Meanwhile, Adaptiiv last week also released a new product called AccuCALC, which helps cancer centers to assess the business case for offering the 3D Bolus product. AccuCALC was developed by Churchill Consulting, which provides consulting and integrated system solutions to radiation therapy departments. Rules for billing insurers vary from state to state in the U.S., and facilities that offer radiation therapy can use AccuCALC to assess how and when they can charge for using the 3D Bolus product. “We have seen significant demand from our clients for information pertaining to 3D Bolus,” said Jordan Johnson, Churchill’s Director of Compliance. “Yet. as is common with many leading-edge technologies, our clients are unsure of whether they can bill for a new technology or its potential return on investment.  AccuCALC addresses that problem.”]]>