Tiny Healthcare Stock With $35 Million Market Cap Becomes Major Player Overnight in Rapidly Growing $1 Billion Market

Therma Bright (TSXV: THRM) (OTCQB: TBRIF) (FSE: JNX), a small healthcare stock and leader in proprietary diagnostic and medical device technology, is making significant strides in addressing critical health challenges with its innovative solutions. The company’s latest achievement, the permanent Healthcare Common Procedure Coding System (HCPCS) code E0683 for its Venowave VW5 device, marks a crucial milestone in enhancing patient care and expanding market reach.

Venowave VW5: A Revolutionary Approach to Circulatory Health

The Venowave VW5 is a first-of-its-kind piece of Durable Medical Equipment designed to treat and prevent deep vein thrombosis (DVT) and other circulatory issues by utilizing a series of compact, battery-operated peristaltic pumps that generate a wave-form motion.

Worn below the knee and strapped firmly to the calf, the Venowave device provides compression to the calf and creates an increased upward volumetric displacement of venous and lymph fluid, resulting in improved vascular and lymphatic flow in the lower limbs.

The device, now recognized by the U.S. Department of Health & Human Services’ Centers for Medicare and Medicaid Services (CMS) with its own HCPCS code, offers patients a much-needed alternative to traditional treatments like compression socks. Unlike compression socks, which can cause discomfort and skin issues, the Venowave VW5 uses its wave-form motion to gently massage the calf, improving blood circulation without the associated drawbacks.

Rob Fia, CEO of Therma Bright, commented on the milestone announcement, stating:

“We’re pleased that the Centers for Medicare and Medicaid has approved our permanent code request, as well as the reimbursement pricing and the new HCPCS Level II designation for our Venowave VW5 device. As shared in several of our recent press announcements, the CDC estimates that over 900,000 U.S. citizens suffer from deep vein thrombosis (DVT) and MarketDigit’s research projected this disease will ‘reach USD 1.5 Billion by 2032’ on a global market value perspective. And DVT is only one medical condition area out of ten circulatory issues that the permanent code will cover, which is very exciting.”

The reimbursable codes are not only a great opportunity for Therma Bright but also for the company’s customers, reseller partners and shareholders.

The Medicare and Medicaid codes for the Venowave VW5 cover the following ten indications:

– Prevention of deep vein thrombosis (DVT)
– Management of the symptoms of post-thrombotic syndrome (PTS)
– Prevention of primary thrombosis
– Treatment of lymphedema
– Diminishing post-operative pain and swelling
– Treatment of leg swelling due to vascular insufficiency
– Treatment of varicose veins
– Treatment of chronic venous insufficiency
– Enhancing blood circulation
– Treatment of intermittent claudication

Per this morning’s Therma Bright press release, the Venowave VW5 will have a complete patient buyout option for a pair of Venowave devices with a capped reimbursement of $1,199.

The Venowave VW5 can also be rented with a capped rental fee reimbursement of $78.05 per month. The total capped rental reimbursement payment for 13 months of continuous use is $819.55, and following the 13th rental payment, the patient will become the owner of the Venowave VW5.

The device’s impact is underscored by the growing need for effective DVT treatments. The global market for DVT prevention is projected to grow steadily at a CAGR of 4.1% and reach US $1.26 billion by 2028 and US $1.55 billion by 2032, driven by an aging population and the increasing prevalence of lifestyle diseases like obesity. With over 900,000 Americans affected by DVT annually, the Venowave VW5 is poised to play a critical role in managing and preventing this life-threatening condition.

Highlighting the significance of the development, Fia added:

“This innovative device for addressing DVT and these other blood circulation issues is the first-of-its-kind to receive the permanent HCPCS Level II code, and we look to provide an initial sales update on our solution in the coming week. One key competitive product in the marketplace is the compression sock, which applies controlled and constant pressure on the leg to improve blood flow in the veins. Unfortunately, users of the compression socks can experience a variety of challenges, including difficulty in putting the sock on, discomfort from constant pressure, minor bruising, skin ulcers, dry skin, redness, and itching. In contrast, the Venowave VW5 simply straps on and massages the leg, applying appropriate pressure in a comfortable and soothing manner to circulate blood through the veins.”

Expanding the Portfolio: AI-Powered Solutions and Strategic Investments

Therma Bright‘s commitment to innovation extends beyond the Venowave VW5. The company is also at the forefront of integrating artificial intelligence (AI) into healthcare, as demonstrated by its Digital Cough Technology (DCT). Developed in partnership with AI4LYF, this AI-powered platform is currently under consideration for a U.S. clinical trial involving a new chronic cough drug. The DCT platform enables healthcare providers and epidemiologists to make more accurate and informed decisions by analyzing cough sounds, thereby improving the diagnosis and management of respiratory conditions.

Fia explained:

“Our DCT solution and data collection platform is ideally positioned for clinical studies like this one. It allows health practitioners to quickly address a patient’s respiratory issues, ultimately leading to better health outcomes.”

Therma Bright’s strategic investments further solidify its position in the medical device industry. The company’s portfolio includes a stake in Inretio, which is revolutionizing ischemic stroke treatment with its innovative clot-retrieving device, PREVATM. This technology has shown promising results in early trials, achieving an 80% success rate compared to the 50% effectiveness of existing devices. Additionally, Therma Bright is developing inhaled statin therapies for asthma and COPD, offering a new approach to treating these widespread respiratory conditions.

The Road Ahead: A Focus on Patient-Centered Innovation

Therma Bright’s focus on patient-centred innovation is evident in its approach to product development and market expansion. The company’s Venowave VW5 not only provides a new standard in DVT treatment but also sets the stage for further advancements in circulatory and respiratory health.

As the healthcare landscape continues to evolve, Therma Bright is well-positioned to lead the way with its cutting-edge technologies. With the Venowave VW5 already making waves in the market and its AI-powered DCT platform on the brink of clinical integration, the company is poised to make a lasting impact on the health and well-being of millions.

Therma Bright (TSXV: THRM) Stock Price Action

Shares of healthcare stock Therma Bright are in the midst of an epic breakout, with THRM stock up as much as 350% since July 31, 2024, and as much as 800% since May 31, 2024.

Therma Bright stock last traded at $0.085. YTD, THRM stock is up 183.33%.

View Therma Bright Stock Chart on Barchart

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Therma Bright Inc. (TSXV: THRM) is a paid client of Wealthy VC. This report/release/profile is a commercial advertisement and is for general information purposes only.