II. Company Overview
This Section's Contents
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Who is [Company Name]?
[Company Name] is a brand new medical device designer and manufacturer, registered in 2022 as a C corporation by two college friends. The friends, [Founder’s Name] and [Founder’s Name], developed a cutting edge device during graduate school that has since been improved and FDA approved. The device uses technology that helps solve medication compliance challenges.
In an informal survey of physicians within the greater Los Angeles area, [Founder’s Name] and [Founder’s Name] found that 56% of patients report some issue with medication compliance. In most cases, these patients rely on their memory to take medications as prescribed. Because memories can be faulty, physicians are eager to find a solution which will easily increase medication compliance.
Both [Founder’s Name] and [Founder’s Name] have personally experienced problems with medication compliance. Both have taken prescription medications since college, and quickly learned how easy it is to forget a dose or two. They soon discovered that this is a common experience, and the two of them embarked on a solution-finding mission: that of creating a device which minimized or entirely eliminated medication non-compliance.
The search led to an array of potential solutions, and with the help of their college professors and mentors, they prototyped several until they arrived at the first iteration of the device they build today. While they were still in school, the pair were awarded a patent for the device. Some years later, when their dreams began to coalesce into a solid plan, the founders took steps to ensure the device was approved by the FDA.
Helping patients with medication compliance is the bottom line goal of [Founder’s Name] and [Founder’s Name] at [Company Name].
[Company Name]’s History
[Company Name] was formed as a C corporation. The history of the device is substantial. Extensive experience within the medical device industry provides the backbone of this corporation’s history, with high projections for profitability and multi-stage growth in the years to come.
[Company Name]’s Products
The devices produced by [Company Name] are designed to dispense, refill, and remind patients to take their prescription medications. This device offers a simple solution to medication compliance issues.
Significant advances in the process of concept and discovery, prototyping and production will be patented and trademarked as appropriate. The patents and/or trademarks will add to the value of the medical devices produced.
