|The PLSG Invests $150,000 in Coventina Healthcare Enterprises, Inc.,Its Eighth Company Relocation|
Pittsburgh, September 19, 2007 – The Pittsburgh Life Sciences Greenhouse (PLSG), the private/public partnership putting the region's life sciences industry on a fast track for growth, announced that the PLSG has invested $150,000 in Coventina Healthcare Enterprises, Inc., a medical device company that provides therapeutic warming (using Radio Frequency) and multi-modal treatment systems for research, rehabilitation, and management of pain related to injury, aging and disease.
Coventina recently acquired the assets of SeliCor, Inc., a Texas company, and has established operations in southwestern Pennsylvania.
The SeliTherm™ System, Coventina’s FDA cleared therapeutic warming device, consists of a Radio Frequency (RF) generator and a family of form-fitting garments containing helically coiled wires which deliver gentle, deep, therapeutic heating along the length of the body part during treatment. This highly efficient, longitudinal field surrounds and gently “bathes” the treatment area in RF energy. This approach virtually eliminates the risk of injury to the patient, removes the need for attended delivery, and allows the person to experience effective and comfortable therapeutic warming. Therapeutic warming (raising the temperature of the tissues 1.0 to 1.6 inches below the surface of the skin to a temperature between 104º F and 113º F) causes certain physiological changes to take place in the treated tissues. These physiological changes result in pain relief, decreased joint stiffness, increased range of motion, relief from muscle spasms and joint contractures, and accelerated healing of soft tissue injuries.
“We welcome Coventina to our regional life sciences community,” says John W. Manzetti, PLSG’s President and CEO. “Our region is well poised to become a global life sciences leader and it is the perfect place for a young life sciences company to form and prosper.” Mr. Manzetti continues, “the PLSG works to attract and recruit companies to southwestern Pennsylvania that have the potential to grow and be competitive in a thriving life sciences industry. Coventina is the eighth company we have helped relocate here and we look forward to the impact that they will have on global patient care.”
The PLSG’s $150,000 investment in Coventina will help refine and advance the core Coventina RF diathermy technology platform which is foundational to a spring 2008 product launch in the sports medicine market. “The PLSG team was able to help create the kind of environment Coventina needs for a successful future and quite frankly we would not have been able to build the momentum we have without the outstanding support of the PLSG”, says James (Chip) Hanlon, Coventina’s President and CEO. Mr. Hanlon continues, “Pittsburgh is home to our entire team, and we knew that Pittsburgh and the surrounding region had the talent pool of people with the right expertise to bring our company vision to life. We are committed to developing our product and building a high performing company here in southwestern Pennsylvania.”
About the Pittsburgh Life Sciences Greenhouse (PLSG)The PLSG invests in and supports the growth of biosciences companies in southwestern Pennsylvania. The PLSG has investment and business growth programs to increase the linkage between research, technology and commercialization; nurture and develop entrepreneurial biosciences enterprises; grow the region's talent pool in the life sciences; and help biosciences firms locate, expand or start-up in the Greater Pittsburgh region. www.plsg.com
About Coventina Healthcare Enterprises, Inc.Coventina is a Pittsburgh company that has recently acquired the assets of Selicor, Inc., a Texas company responsible for developing and launching the first generation of the FDA cleared SeliTherm™ diathermy therapeutic warming system in 2001. Coventina’s mission is to be the leading provider of therapeutic warming and multi-modal treatment systems used in the research, treatment, rehabilitation and management of pain related to injury, aging, and disease. www.coventinahealthcare.com
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