Endonovo’s SofPulse® Secures Federal Supply Schedule Inclusion to Accelerate Expansion of VA Distribution
Los Angeles, CA, Aug. 22, 2023 (GLOBE NEWSWIRE) -- Endonovo Therapeutics, Inc. (OTCQB: ENDV) -- a US-based commercial medical device company -- today announced its inclusion on the Federal Supply Schedule (FSS) for SofPulse® Pulsed Electro Magnetic Field (PEMF) medical devices for distribution throughout the Federal healthcare supply channels.
The listing was spearheaded by Endonovo’s partner, Academy Medical Inc, a Service-Disabled Veteran-Owned Small Business (SDVOSB) government reseller. Academy Medical’s efforts to secure SofPulse® on the exclusive FSS is the first of many strategic moves for Endonovo to streamline the distribution of its medical products throughout government healthcare systems.
Expanding Distribution for FDA-Cleared Surgical Solutions
SofPulse® is an FDA-Cleared medical device which is recognized for its exceptional efficacy for postoperative reduction of pain and edema (inflammation). Clinical studies and patient use have shown that PEMF has the capacity to alleviate pain, promote recovery and enhance overall patient well-being. As SofPulse® is non-invasive, opioid-free and with its potential to speed up recovery, it sets it apart in the medical technology landscape.
The inclusion of SofPulse® on the FSS signifies not only a stamp of approval from Federal authorities, but further affirms the Company’s objective of having SofPulse® widely distributed within the government healthcare sectors.
"This endorsement reaffirms our commitment to delivering cutting-edge solutions that cater to diverse healthcare needs” according to Ira Weisberg, President of Endonovo’s Medical Division. Listing on the FSS is a testament to the efficacy and potential of SofPulse® within the U.S. and global medical community,” he pointed out.
SofPulse® Positioned for Accelerated Revenue Growth
SofPulse® listing on the FSS places its proven PEMF recovery technology at the forefront of distribution, paving the way for exponential growth within the Veterans Administration (VA) and Department of Defense as well as other governmental healthcare sectors. The VA utilizes the FSS to make available a wide range of authorized products and services on an ongoing basis.
“Securing a coveted place on the prestigious FSS for SofPulse® PEMF products is a significant milestone and will help us expand our distribution, growth and revenues from our government healthcare contracts,” Weisberg said.
Opportunity to Capitalize on Untapped PEMF Market
The FSS was established as a means of streamlining government purchases of commercial products. Having SofPulse® included in the FSS will provide for expanded opportunities for the distribution of the Company’s innovative PEMF products throughout the VA healthcare system, which services over 16.5 million patients yearly. Inclusion in the FSS offers companies like Endonovo the opportunity to distribute and generate revenue through sales and distribution to the VA, Department of Defense, Federal and executive agencies in addition to other healthcare agencies.
As Endonovo navigates this new phase of Federal expansion, the Company remains resolute in its mission to enhance patient care for our military heroes and their families. Expanding Federal contracts is important to positioning Endonovo to seize anticipated expansion for active and non-active military personnel surgical, medical and wound care needs. Through the FSS, SofPulse® will gain increased visibility to serve a wider range of patients., strengthening its position as a non-opioid medical solution within the Government medical technology sector.
Plans for Future Expansion of Government Contracts
Endonovo has identified numerous governmental healthcare contracts for the expansion of distribution throughout the government healthcare sectors. Through Academy Medical, additional future government contracts targeted include: Strategic Acquisition Center (SAC), National Acquisition Center (NAC) and the defense agencies and Department of Defense Field Activities (DAFA) distribution schedules. Each federal contract being targeted affords Endonovo the opportunity allows Endonovo and SofPulse to reach a broader audience, including hundreds of federal healthcare facilities throughout the US and the world. The Company aims to leverage the power and influence of the Federal government's buying process to provide SofPulse® to healthcare facilities and patients not currently being serviced.
Weisberg concluded: “To streamline our government distribution expansion, we have established pre-negotiated prices, terms, deliverables, warranties and other details to aid in making the purchasing process more straightforward. Our Company is starting to realize the benefits of our partnership with Academy Medical with being able to service new distribution channels as well as increased revenue.”
About Endonovo Therapeutics, Inc.
Endonovo Therapeutics is currently structured into two divisions: Legacy – a commercial-stage developer primarily of noninvasive wearable Electroceuticals® therapeutic devices for pain relief, general wellness and wound curatives with many of its products marketed under the SofPulse® brand name; and its Build Up Strategy – acquiring complementary specialty service providers in the medical technology and construction industries.
About Academy Medical, Inc.
Academy Medical is a premier Service-Disabled Veteran-Owned Small Business and distributor of medical-surgical equipment and supplies to the Federal government. As a government procurement partner with industry expertise and access to advanced technology, Academy Medical’s mission is to leverage its preferred status as an SDVOSB to create a streamlined, more cost-effective process for its government customers and supplier partners.
Academy Medical is headquartered in West Palm Beach, Florida. Learn more about partnering with the company in its service-driven business at www.academymedical.net.
Safe Harbor Statement
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements, trends, analysis, and other information contained in this press release including words such as "anticipate", "believe", "plan", "estimate", "expect", "intend" and other similar expressions of opinion, constitute forward-looking statements. Any such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from any future results described within the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release.
Investor Relations Contact:
Endonovo Therapeutics, Inc.
Steve Barnes
(800) 701-1223 Ext. 108
sbarnes@endonovo.com
www.endonovo.com
Media Contact:
Gregory A. McAndrews
Greg McAndrews & Associates
(310) 804-7037
greg@gregmcandrews.com
