ENvue Medical, Inc. (NASDAQ: FEED) shares began Tuesday. The Tyler, Texas-based company, a medical technology concern specializing in the advancement of intelligent, non-invasive solutions for enteral care across clinical and home care settings, today announced a purchase of the ENvue™ Navigation Platform and feeding tubes by a premier teaching hospital and Level I Trauma Center serving the Detroit metropolitan area.
The purchase expands ENvue’s presence within a major Southeast Michigan health system where the Company has previously been deployed, and brings ENvue’s U.S. hospital footprint to 39 hospitals.
The facility is a 714-bed major teaching hospital and a key anchor of a leading regional health system. It is known for comprehensive specialty institutes in oncology, cardiovascular care, and pediatrics, and operates a broad network of critical care environments, including medical, pediatric, surgical, and cardiovascular intensive care units (ICUs), as well as a dedicated Level III Neuro-ICU.
“We believe that this partnership represents the strategic account expansion we are focused on nationwide,” said Marc Waldman, Vice President of Commercial at ENvue Medical.
“Preeminent teaching and non-teaching hospitals alike are seeking innovative technologies that can improve workflow efficiency while supporting cost containment and patient safety initiatives. The ENvue™ Navigation Platform addresses these priorities, and we are encouraged by the increasing demand we are seeing from health systems looking to modernize, standardize and enhance enteral access procedures across their hospitals.”
FEED shares leaped 54 cents, or 37.8%, to $1.97.
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