Recovr Receives SC Launch, Inc. Investment
SUMMERVILLE, S.C.--(BUSINESS WIRE)--Apr 9, 2019--SCRA announces a $200,000 SC Launch, Inc. investment in Recovr, a Clemson-based company developing innovative physical therapy tools. The company was accepted into SCRA’s Entrepreneurial Program, SC Launch, in 2014 and previously received two grants.
Recovr has created rehabilitation tools, designed by therapists, which increase patient engagement using fun, interactive games. The company’s virtual therapy games are leading to better outcomes and provide detailed reporting to track a patient’s recovery progress. The Recovr Rehabilitation System, the company’s first product, began as a research project at Clemson University and the Medical University of South Carolina. Currently, Recovr’s FDA-cleared platform is marketed to occupational and physical therapists in skilled nursing facilities. The recent investment will be used to grow sales and to fund further development of Recovr’s Telerehabilitation Platform that will enable providers to enhance outcomes and decrease costs with innovative, home-based rehabilitation.
“We are thrilled about the growth that this investment made by SC Launch will enable,” said Austen Hayes, CEO of Recovr. “SC Launch was the very first organization to invest in Recovr and we are proud to grow our partnership with SCRA and demonstrate what technology companies like Recovr can achieve right here in South Carolina.”
SCRA is a state-chartered organization that fuels job creation and grows South Carolina’s innovation economy. Through SC Launch, early-stage companies are provided mentoring and grants and may be eligible for an investment from SC Launch, Inc. The SC Launch program is open to qualified South Carolina companies in the Advanced Materials/Manufacturing, Information Technology and Life Sciences sectors.
Chartered in 1983 by the State of South Carolina as a public, non-profit corporation, SCRA fuels South Carolina’s Innovation Economy by supporting entrepreneurs, enabling academic research and its commercialization, and connecting industry to innovators.
About SC Launch, Inc.
Established in 2006, SC Launch, Inc. is an independent, non-profit corporation affiliated with SCRA, which provides loans and investments to selected South Carolina-based companies participating in the SC Launch program.
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CONTACT: Jessica Cokins
KEYWORD: UNITED STATES NORTH AMERICA SOUTH CAROLINA
INDUSTRY KEYWORD: HEALTH SMALL BUSINESS MEDICAL DEVICES PROFESSIONAL SERVICES PHYSICAL THERAPY
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PUB: 04/09/2019 11:35 AM/DISC: 04/09/2019 11:35 AM