Startupalooza NJ is a competition in which technology, digital health and medical device companies competed for the chance to present their products before a wider audience of private equity investors in New York next month. This is one of a series of posts I’m publishing that includes elevator pitches from three of the companies I liked.
MedSonics uses a handheld diagnostic ultrasound device to detect, monitor and chart bone abnormalities and fractures cheaply and more efficiently to determine whether the patient needs to be moved to a healthcare facility for an X-Ray or scan.
The Newark, New Jersey-based company’s six-member team includes a pediatric orthopedic surgeon at the Children’s Hospital of Philadelphia and associate clinical professor of orthopedics at the Perelman School of Medicine at the University of Pennsylvania as well as a physician emeritus from the New York Giants football team. It is raising $1.5 million to develop its prototype for clinical trials.
It sees applications for the product in sports medicine, nursing homes and rehabilitation centers. It also sees applications in the horse racing industry. “Our mantra is better, faster and cheaper,” said CEO Sanford Roth, whose background includes working in engineering, business and product development for Lockheed Martin and RCA.
