“This is an exciting time for AVEX and its investors. We believe that an investment of this magnitude validates both the clinical and commercial potential of Footbeat,” said Matt Mayer, CEO of AVEX. “We’re bringing a device to market that will transform lives through improved health and athletic recovery. The capital raised in this round will build up production capacity, expand the operations team, and provide the sales and marketing resources to make Footbeat available to patients and physicians.”
Co-founder, Dr. David Mayer, a practicing orthopedic surgeon of more than 35 years, was increasingly frustrated by his patients’ resistance to using life-saving circulation enhancement devices. Talking with post-operative patients and patients suffering from lower body circulatory conditions led him to pinpoint three common complaints about existing devices: immobility, noise and discomfort.
Increasing circulation in his patients’ lower extremities was extremely important, so he sought a better solution—one that was comfortable, completely mobile, and easy-to-use with no unwanted side effects. After seven years of development and testing, he created Footbeat.