Background
Although tympanostomy tubes remain the most common and efficient treatment for middle ear ventilation and drainage problems (otitis media), they are by no means ideal. A number of complications arise, including residual perforation in the eardrum (3% and 20% of insertions) and lack of control over the insertion period (7%). Repairing these complications frequently requires additional surgery under general anesthesia. About $0.5 B is required annually in the US to repair these complications.
Technology & Solutions
Otomedics is developing a new, anatomically designed tympanostomy tube that minimizes these complications. Otomedics produced already thousands of tubes using sophisticated manufacturing technology. Our tube has a very fine and unique anatomical structure that makes it very difficult to produce and demands the top edge of molding technology.
Advantages
The Otomedics Soft Tympanostomy Tube represents the ultimate choice for every tympanostomy tube insertion, one that can replace every other tube that is currently used. Its precise anatomical design provides excellent drainage/ventilation for every kind of ear condition. The design also enables an easy insertion technique. Other advantages:
- Long insert period,
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Easy, painless removal (office procedure for adults),
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Reduced rate of complications,
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Easy to clean.
Market
Target Market - Otolaryngologists which practice surgery worldwide and perform tube insertion. This is the most common surgery in children. About 5 million tympanostomy tubes are inserted worldwide every year. Numerous tubes of various designs and performances, none of them is perfect. The tubes are manufactured by 3 major competitors: Medtronics, Olympus /Gyrus, Micromedics.
The market is looking for a new, innovative tympanostomy tube for more than two decades, which can provide the surgeon with full control over the insert time, and combines all the advantages of other tubes.
Business Model & Value Proposition
Otomedics intends to produce the product and sell it to large distributors worldwide.
It already has FDA, and soon will have CE. It signed up an agreement with a distributor in North America and granted him exclusivity, for a limited time. Otomedics intends to expand its sales activities worldwide, by recruiting large distributers in Europe, Latin America and Asia.
The value propositions of Otomedics are based on developing unique medical devices to the Otolaryngology market, and manufacture them by excellent technology. With the U-Tube, we shall deliver a solution that was anticipated by physicians for a long time and will provide them with a single, multipurpose device that will replace the current products. A defined investment will allow the company to become profitable in a very short time, where the margin of the product is high.
Life Sciences/ Medical Devices.JPG)
