Genesis Innovation Group and Spectrum Health Innovations Partner on Dynamic Tensioning Shoulder Brace
GRAND RAPIDS, Mich., August 24, 2017—Genesis Innovation Group today announced a strategic partnership with Spectrum Health Innovations (SHI) to bring a new and innovative shoulder brace to market. This is the first partnership between the two organizations.
Genesis Innovation Group is a global team of engineers and industry professionals, based in Holland, Michigan, who work with medical device entrepreneurs on product development, manufacturing, commercialization, distribution and other business needs essential to their success.
Developed by Spectrum Health orthopedic surgeon and sports medicine specialist, Dr. James Lebolt, the Dynamic Tensioning Shoulder Brace is designed to properly support patients recovering from shoulder injuries to the rotator cuff, labrum, or other muscles or tendons supporting the glenohumeral joint. The brace is a first-of-its-kind device to help injured shoulder patients.
“Shoulder injuries can take people completely out of the game, because existing technology can’t stabilize their shoulder to heal quickly or it severely limits their mobility,” said Dr. Lebolt. “Bringing the Dynamic Tensioning Shoulder Brace to market will help more than 5.4 million people, many of them young athletes, who suffer and cope with the effects of traumatic shoulder injuries.”
Genesis will work with Dr. Lebolt and the Spectrum Health team to develop up to ten functional prototypes that will be tested for marketability and acquire feedback from potential patients and consumers of the product. The 26-week project will provide the framework for a product launch in mid-2019.
“Spectrum Health Innovations invests in physician-entrepreneurs to create new ways to treat patients and maintain health, but we need strategic partnerships and channel experts to bring these innovations to market,” said Dr. Brent Mulder, senior director of Spectrum Health Innovations. “Genesis has led the development and commercialization of multiple, innovative shoulder technologies, and our relationship extends SHI’s ability to rapidly transform health care.”
“Combining Dr. Lebolt’s deep expertise in orthopedic medicine, and the mechanical expertise of the Spectrum Health Innovations team, the early performance of the Dynamic Tensioning Shoulder Brace is very promising,” said Rob Ball, executive chairman of Genesis Innovation Group. “Their initial work has now advanced to the stage where Dr. Lebolt and SHI are partnering to further develop the shoulder brace to a stage closer to commercial readiness.”
Since its formation, Genesis Innovation Group has engaged or led the development and commercialization of multiple innovative medical device technologies. The group makes investments into early stage medical companies or innovations with disruptive potential that have demonstrated a pathway to improving value in the healthcare environment.
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About Spectrum Health Innovations
Spectrum Health Innovations, LLC (SHI) helps foster innovation throughout the Spectrum Health System by helping Spectrum Health physicians and staff identify opportunities for innovation, develop and launch novel ideas, and transform the care model. In particular, SHI focuses on the development and launch of promising new healthcare products and technologies, such as medical devices, hospital equipment, diagnostics and software, in addition to new business approaches for driving transformative change in health care.
About Genesis Innovation Group
With more than 100 patents and innovations among its founders, Genesis Innovation Group is a leader in medical device development and commercialization. The company partners with private sector businesses and surgeon-inventors to develop new technologies that advance human health and medicine. More at http://www.GenesisInnovationGroup.com.
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