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FLXT - Flexpoint Sensor Systems Inc News Story

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Last Trade - 13/04/21

Micro Cap
Market Cap £6.82m
Enterprise Value £7.45m
Revenue £180k
Position in Universe 6413th / 6848

Flexpoint Sensor Systems Receives Purchase Order From Taiwan Based, Medical Rehabilitation & Robotics Corporation

Thu 19th July, 2018 2:30pm
Flexpoint Sensor Systems Receives Purchase Order From Taiwan Based, Medical Rehabilitation & Robotics Corporation

DRAPER, Utah, July 19, 2018 (GLOBE NEWSWIRE) -- Flexpoint Sensor Systems, Inc. (FLXT) has once again, expanded in the glove-based wearable medical rehabilitation and robotics market. The two have developed a definitive business relationship with Taiwan-based company, Rehabotics Medical Technology Corporation (RMTC). RMTC has been recognized and awarded for their many achievements in the Medical IoT industry. This transition has resulted in the fulfillment of purchase orders, which is expected to ramp up production in the near term.

RMTC, established in 2016, became a separate entity of a larger, existing business known as the National Tsing Hua University (NTHU), currently affiliated with the China Ministry of Science and Technology (MOST). The organization was formed as a result of collaboration of experts from the professional fields of mechanical engineering and medical engineering.

According to Paul Sexauer, Flexpoint VP Sales & Marketing, “This relationship represents the impact of working with leading research institutions world-wide, and the commercial entities that are formed to commercialize these innovative technologies. We are proud to support and become part of the success of RMTC and these types of organizations.”

RMTC product offerings include multiple components (Daily Hand, Control Box and Mirror Glove), recently featured at CES (Consumer Electronics Show) 2018. The company has designed and developed the wearable hand exoskeleton for patients with neuromuscular disorders and diseases that lead to permanent loss of hand function. By applying their design, it successfully increases the patient's finger muscle strength and joint flexibility to avoid or ease the phenomenon of muscle atrophy and joint sclerosis.

“These markets are exciting and growing beyond our expectations. Our partners and customers are enabling continued market adoption of their Bend Sensor® based technologies. With the exclusive Flexpoint technology, industry experience and strong market focus, we are uniquely well positioned to grow with them. This continues to be an amazing journey for all of us, and we remain optimistic and confident about the future of our company,” stated Flexpoint VP Sales & Marketing, Paul Sexauer.

About Flexpoint Sensor Systems, Inc.

Flexpoint Sensor Systems, Inc. (FLXT) is an innovative technology firm specializing in developing products that feature the Company's patented Bend Sensor® and related technology. The Bend Sensor® is a groundbreaking sensing solution that is revolutionizing applications in the consumer electronics, automotive, safety, medical and industrial industries. The Bend Sensor's single-layer, thin film construction cuts costs and mechanical bulk while introducing a range of functions and stylistic design possibilities that have never before been available in sensing technology. Flexpoint's technology and expertise have been recognized by the world's elite business and academic innovators for over 17 years. The company is continually setting new standards for sensing solutions in the "smart" age of technology. 

Forward-Looking Statements

This press release contains certain forward-looking statements. Investors are cautioned that certain statements in this release are "forward-looking statements" and involve both known and unknown risks, uncertainties and other factors. Such uncertainties include, among others, certain risks associated with the operation of the company described above. The Company's actual results could differ materially from expected results.

Contact Information:

Flexpoint Sensor Systems
Clark Mower, President

Brokers and Analysts
Chesapeake Group

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