Life Care Medical Devices Limited entered into an agreement with The BioFusionary Corporation and Rocky Mountain Biosystems, Inc. to acquire substantially all of BioFusionary’s assets and license and purchase from RMBI all patents, trademarks and know-how used in BioFusionary’s business.
As a result of these transactions, LCMD will have rights to market and sell the BioFusionary Bebe™ a non-invasive system that uses electromagnetic induction to generate and deliver focused energy to the collagen-rich dermis and subcutaneous tissues.
“Life Care’s goal is to become a leading medical device company focused on reshaping the treatment paradigm for non-invasive and minimally-invasive procedures,” said Richard J. Prati, Chief Executive Officer of Life Care. “We plan to strategically grow the company both through the development and launch of our proprietary LapCap2® device for use in laparoscopic surgery and by building a robust portfolio of synergistic products. Bebe, a non-invasive aesthetic and physiologic device, is a perfect fit for our business model and the first important step in our expansion plan.”
Kevin Marchitto, Chief Executive Officer of BioFusionary, will be joining the Life Care management team, effective immediately, as Managing Director of EMI Technology as well as becoming an LCMD board member.
“Bebe seeks to provide a safe and effective means of toning muscles with the added potential advantage of restoring a youthful appearance with minimal discomfort and no patient downtime. Importantly, it may eliminate the need for surgery or the use of toxic chemicals by offering medical practitioners a novel alternative to address the large unmet needs in aesthetic and surgical skin rejuvenation,” said Robin Stephens, Chief Operating Officer of Life Care. “Bebe has received clearance from the U.S. Food and Drug Administration for use in the United States to treat body tissues with deep heat and affords LCMD with a near-term commercial opportunity to advance our first marketed product into the well-established and growing $3.7 billion dollar U.S. skin rejuvenation market.”
