The agreement provides 3B Medical with a very quick ramp to market for the most technologically advanced wearable oxygen concentrator in the world.
Winter Haven, Florida (PRWEB) March 25, 2018
3B Medical is pleased to announce closing on a deal for the exclusive global licensing and acquisition of VBOX, a Minnesota research and development company. Through a decade of research and development, VBOX has amassed a number of patents for innovation in the portable oxygen product space, a multi billion dollar industry.
With this agreement, 3B Medical, Inc. gains exclusive global licensing of a large portfolio of intellectual property, consisting of 14 U.S. patents, 6 U.S. patents pending, and 8 foreign patents, along with the design and regulatory approvals for the world’s smallest and lightest portable oxygen concentrator. "It was a great opportunity for us find a company that had both an attractive IP portfolio, as well as a great product ready for commercialization with both FDA 510(k) approval and FAA Certification already under the belt," said 3B Medical's CEO, Alex Lucio.
"The agreement provides 3B Medical with a very quick ramp to market for the most technologically advanced wearable oxygen concentrator in the world. We are really excited by being able to finalize this deal because it positions 3B Medical as a global leader in the portable oxygen concentrator product space,” said Alex Lucio. "The global portable oxygen concentrator market is estimated to reach $2 billion dollars this year, so our entry into this product space is part of 3B Medical's continued aggressive growth strategy to expand our offering of respiratory products," said Lucio.