COHOES, NY — PVA has acquired the the software and intellectual property of additive manufacturing startup Create Orthotics & Prosthetics.
Financial terms were not disclosed.
PVA intends to use Create O&P as the foundation of a new medical device division as it diversifies its product line beyond the electronics assembly market.
In a press release, Frank Hart, managing director – global sales and marketing, PVA, said, “Additive manufacturing is becoming a necessary function for rapid prototyping and tooling, and mitigates design risk for PVA’s core customers. We really see this as a multipurpose solution that strengthens Create O&P’s traditional medical market and brings PVA’s end-users a flexible, affordable solution to augment their manufacturing process. The technology PVA is acquiring is going to have a tremendous influence on how our customers can manufacture in the future.”
Create O&P sells 3-D printers that produce artificial limbs through an additive manufacturing process at a fraction of the time and cost of custom produced prosthetics. Early adopters for this technology have been Veteran Administration hospitals. The end-use of Create O&P products was a big motivator for Tony Hynes, PVA president, as he aims to make prosthetics faster, less expensive and more comfortable for disabled veterans.
Create O&P was founded in 2012 in Lake Placid, NY. In August 2018 the business relocated to Albany, NY, when it contracted PVA to design and manufacture their third-generation prosthetics printer. “The ability for Create O&P grow at a rapid pace was directly tied to their ability to strengthen engineering, efficiently scale manufacturing, and develop a global support structure," Hynes said. "These are all qualities that are strengths of PVA. The resources we can provide are only going to ignite growth in this business.”
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