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Bethel Finance news:
Apos Medical and Sports Technology Ltd., which has developed a device for the treatments of knee osteoarthritis, has signed an indemnification agreement with BUPA, one of Britain's largest healthcare insurance companies. Apos expects to record several million dollars revenue from the deal next year.
BUPA conducted a trial of Apos's device on 1,300 patients. 85% of the patients reported a reduction in pain, 90% reported improved walking ability, and 86% said that, following the treatment, they decided not to undergo orthopedic surgery. BUPA decided on the indemnification on the basis of these results.
According to studies presented by Apos to Britain's health services and media, muscle-bone degeneration, mainly manifested in knees, costs the UK the equivalent of 1% of GDP.
Apos's product is a customized platform attached to a person's shoes to create multi-directional instability in walking to mimic natural walking on uneven surfaces, thereby strengthening the muscles and alleviating pain. Treatments take 30-60 minutes a day. The company raised $8 million from Pitango Venture Capital earlier this year.
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