Welcome to our 2023 Q3 newsletter! We hope this finds you well and that you're excited to dive into the latest updates from Vita Group. In this edition, we have some exciting announcements to share with you, including news on our sterilization service, project updates, and information on the recent relocation of our headquarters. As always, we thank you for your continued support and we hope you enjoy this latest edition.
Vita Group $50M Series A Limited Preferred Private Placement Opportunity
Exciting news is on the horizon as we have just announced our Series A Funding round! As the only truly vertically integrated medical device manufacturer in the world, we’re on a mission to raise $50 million to fuel our expansion and propel Vita Group to new heights. The funds we raise will be allocated strategically to meet our immediate needs, including:
Finalizing the acquisition of I-Tek, an ISO-13485 and FDA-registered medical device contract manufacturer
Completing the build-out of Vita Group’s 70k sq ft state-of-the-art headquarters
The establishment of a 13,000 sq ft clean room
Acquisition of cutting-edge manufacturing equipment
As the largest private medical device manufacturer in Minnesota, our company's current valuation stands at $547M. This is well-justified given our consistent, strong financial performance, robust pipeline of 33 OEM devices from incubation, 70+ product lines in manufacturing, in-house ETO sterilization, and the inherent value of our only-in-class vertically integrated services. We are offering 1,000 shares in Vita Group, with minimum investments set at $100,000. We also have a 20% kicker promotion for share purchases made before Thanksgiving.
If you are interested in participating, we encourage you to visit our PPM portal to review the details of this investment opportunity at controlledcap (invportal.com).
Vita Group Slashes Industry Standards with 2-3 Day Sterilization Runs
ETO Sterilization is now fully online as part of our vertically integrated services, allowing Vita Group to further streamline the medical device development process. It is widely known throughout the medical device industry that outsourcing sterilization means lengthy 6-12 month lead times. Costly delays are commonplace, oftentimes as a result of poor communication from the vendor. Bringing sterilization in-house cuts out the need to rely on a third party so we can control the speed and quality of our timelines.
What sets Vita Group apart is our commitment to customer service, tailoring solutions to specific customer needs, and drastically reducing sterilization timelines. Our sterilization process can accommodate a wide variety of medical devices, including smaller batch quantities in the device pouch and/or tray, with the quickest turnaround time in the industry. We also recognize our clients have large volume product lines that require multiple pallets of product sterilized. This is why we continue to offer sterilization coordination for a discounted rate at a local Vita Group partner facility. This way, no matter what the volume is, our clients get what they need with an industry-best price and turnaround time.
Our in-house Regulatory and Quality department ensures the highest standards are met. We complete protocol, engineering, and validation runs in 3-4 weeks and regular sterilization runs in just 2-3 days, which is the best in the industry on both accounts. In addition, our experienced team of award-winning Presidents Club medical device sales executives will also serve as your dedicated project managers. Over-communicating is ingrained into Vita Group’s DNA; our executive team is trained to keep lines of communication wide open so our clients are never left in the dark about the progress of their projects. We wholeheartedly believe that customers see immense value in our transparency and project updates, from start to finish.
Vita Group Unleashes Exponential Growth with Impressive 70,000 Sq Ft Headquarters
In August 2023, Vita Group officially relocated our headquarters to 390 Commerce Drive in Woodbury. Our new facility spans an impressive 70,000 sq ft, providing us with the room to bring every essential aspect of our combined R&D, manufacturing and sterilization operations in-house. The property also offers an additional 70,000 sq ft of green room space for future expansion.
As of now, all our manufacturing and sterilization operations are performed at our sister facility in White Bear Lake, MN. This 35,000 sq ft space also boasts 7,000 sq ft of Class 7 Cleanroom space and 2,000 additional sq ft of White Room space. We have calculated a meticulous phased-in approach to maintain our customers’ promised timelines during the relocation of manufacturing to 390 Commerce Drive. With all operations under one roof, we can further streamline our services for accelerated development.
Commitment to High-Speed Innovation: Industry's Fastest Revisions for Brekka and StingRay
After nearly a year’s worth of third-party contract manufacturing and sterilization delays, we finally released the highly anticipated first generations of Brekka’s Capture Delivery Device and StingRay’s Implant Delivery Device in June. Both devices represent a significant leap in medical device technology in facilitating implant delivery.
Once the products launched, our 40-person sales team engaged with our key opinion leaders across the country and received feedback to further enhance the devices. Their invaluable insights led us to make changes to the design to optimize lubricity and the devices’ pliability.
When it came time to sterilize the modified devices, our in-house ETO protocols were completed in an outstanding four weeks, and 1,000 units were sterilized and ready to ship in just six weeks. We are the only company in the world with the ability to control all aspects of design, development, manufacturing and sterilization while exceeding our customers’ demands of an accelerated timeline. What was once a painful 12-month process has become a reality in only six weeks.
The updated units of the devices are now available for purchase at:
Brekka Request Trial Information: www.brekkamedical.org/pages/contact
Brekka LinkedIn: brekkamedical
Brekka Instagram: brekkamedical
StingRay Request Trial Information: www.stingraymedical.org/pages/contact
StingRay LinkedIn: stingraymedical
StingRay Instagram: stingraymedical
Game-Changing OEM Devices Receive Major Boost in Development Timelines to Market
LipoShot and Orchid Reach Die Mold Milestone
LipoShot will be the first all-in-one device in the world to harvest, decant, expel, unclog, wash, morcellize, and inject autologous fat grafts.
Complimentary to Liposhot, Orchid is a gentle fat grafting syringe that can be used to harvest, dry, and inject fat cells all in one use. These revolutionary devices are in Phase 3 of our development timeline, which focuses on producing functional prototypes.
Now that we’ve obtained the mold tooling for both devices, we can injection mold the casing for the functional prototypes. We recently received the colored pellets for the molded components, a vibrant blue color for LipoShot and a light lavender for Orchid. Our next step is sending the prototypes out for biocompatibility testing, moving us a step closer to completing Phase 3.
Nano Assist 1x Scale Prototype
The Nano Assist is a simple and easy-to-use device designed to perform minimally invasive robotic procedures with an outer diameter measuring less than 2mm. This device is in Phase 2, which centers around concept refinement and the creation of a high-fidelity prototype. Our engineering team completed a low-fidelity 1x scaled prototype earlier this quarter and is further refining the device for high-fidelity, with an estimated completion time of Q4.
Advancing Tissue Tester and Camera Guidewire Prototypes
Tissue Tester is a combo device that includes a Doppler, tissue impedance analyzer, nerve stimulator, and a liquid volume counting system that uses suction. This user-friendly device has the potential to reduce the need for multiple devices during general surgical procedures.
Camera Guidewire is a handheld device that provides physicians with a visual aid during procedures that require a guidewire in an OR setting. Its featured waterproof camera can Bluetooth connect to a mobile device to offer the user a better visual of the surgical site. These devices are in Phase 2 for design refinement and user testing.
Our electrical engineers worked hard to produce a low-fidelity prototype for both devices. The feedback we received from our extensive physician network gave us valuable insights that allowed us to improve the design and function of the prototype. Our engineers are beginning the development of a PCB (printed circuit board) and advanced electronic components to create a high-fidelity prototype before progressing into Phase 3, with an estimated completion timeline of Q4.
Vita Group Sparks Innovation with Revolutionary Incubation Project #33
In the last three months, we’ve witnessed substantial growth on our website and social platforms, where the majority of our clients discover us. As a result, we’ve added seven exciting incubation projects to our portfolio. These projects span a variety of fields, from the realm of cosmetics to groundbreaking advancements in lung health. All seven projects will start with our in-house Research and Development capability, where our mechanical and electrical engineers create rapid prototypes, utilize CAD for design, and produce LCD screens from scratch. Project 33 utilizes all our vertically integrated services, from concept to commercialization. Our team will guide the project from Phases 0-1: Exploration/Prototyping, all the way through Phase 5 for Distribution and Sales.
Save Up To 40% On Credit Card Processing Fees With VitaPay
As a small business, we understand the frustration many of our clients feel in regard to high, and oftentimes hidden, credit card processing fees. We created VitaPay's merchant service solution to provide best-in-class discounted rates and lending options for our clients. We can now save on average 20-40% per transaction compared to other providers. This service provides standard industry features and terminals, allowing users to retain a larger portion of their profits.
Join us at Booth #3740 for MD&M Minneapolis, Oct. 10-11th
Our executive team will be available to engage in discussions about medical device development, manufacturing, sterilization, prototyping, and much more. This is a great opportunity to meet our leaders, including Patrick Haley (COO), Matt Newman (President of Sales), Richard Thompson (VP of Product Development and Engineering), Justin Barbot (RVP), Asifa Mirza (RVP), and Nate Bliss (Director of Marketing).
To book a one-on-one meeting with us during the event, please RSVP here: MD&M In-Person Meetings | Vita Group
Vita Group Re-Energizes at Taylor Falls, MN
After a hard month’s work in July, the company planned a well-deserved canoe trip to treat our employees. The Friday before the Fourth of July was spent in Taylor Falls, where team members canoed down the river and enjoyed the beautiful views of a Minnesotan summer. We value the importance of employee mental health and wellness by refreshing, re-energizing and connecting with our team outside of the office.
Introducing Asifa Mirza: The New RVP Driving Success in the West Region!
Asifa has joined us as a Regional Vice President. With 17 years of experience, she is a decorated medical device sales professional, winning multiple President's Club awards, and managing high-performing teams. Asifa's expertise, especially in the plastic surgery/aesthetics space, is a valuable asset to our organization.
Asifa has already immersed herself in her new role with enthusiasm and dedication. Her hands-on approach has a lasting impression on doctors and medical professionals, and we’re excited for her future as one of our leaders.
Thank you for reading this edition of the Q3 2023 Newsletter. We hope you enjoyed the updates, and you can expect our Q4 2023 Newsletter at the end of December.
If you’re interested in our comprehensive medical device development services, please submit your inquiry through our contact form at www.vitagroup.io/contact