AVACEN Medical

AVACEN (Advanced VAscular Circulation ENhancement) Medical provides FDA Cleared, noninvasive, drug-free over-the-counter pain relief and wellness devices and diagnostics for cardiovascular disease and stress. The company has raised $4M, sold over 9,000 devices, and has safely completed over 22 million treatments to date.

AVACEN Medical is currently selling its patented, FDA-cleared third-generation thermotherapy technology. AVACEN generates revenue via sales of medical devices. Our devices range in price from approximately $2,995 to nearly $9,995 at full MSRP. The Company also sells disposable accessories and replacement parts for users as needed. The Company engages independent contractors for its direct sales force in the U.S. and Canada, totaling over 250 active “distributors” in both countries. AVACEN Medical also sells through targeted wholesalers, as well as a new team of professional distributors in the U.S. Finally, the Company also sells devices online via Shopify at its e-commerce site, AVACENMedical.com. 

AVACEN recently launched its 3rd-generation family of fully developed, high-demand, unique consumer and practitioner products into the expanding wellness market that grew to $4.4T globally in 2022. Chronic pain impacts up to 116 million people in the U.S. alone and over 30% of the worldwide estimates show that in the U.S., over $635B is spent per year on managing chronic pain, with up to a 70% higher mortality rate, surpassing cardiovascular disease Population.

The Company is also pursuing 3 new professional products already in development: 1) PHA (Perioperative Hypothermia Avoidance) device to regulate patient body temperature during surgery 2) EMD or Emergency Medical Device, designed to manage either hypo- or hyperthermia in patients in any environment, and 3) Cathsta - A new catheter stabilization device, which the company recently obtained via an IP acquisition. AVACEN plans to be acquired by a much larger strategic partner who already has successfully penetrated these markets. 

The Company has field-tested and sold over 9,000 devices since its inception, primarily in the United States, with approximately 22 million treatments. Revenue in 2022 was $4.8M, a 5.1% increase compared to 2021 revenue of $4.58M. The new professional products launched mid-year 2022 contributed to revenue growth - the AVACEN PRO+ and the AVACEN CSS (Cardiovascular & Stress Screening). The PRO+ is an FDA-cleared noninvasive thermotherapy treatment device designed for professional environments. The CSS device, also FDA Cleared, is the Company’s first cardiac diagnostic device, focused on arteriosclerosis, heart rate variability, autonomic nervous system balance, and stress resiliency. Since 2018 the revenue has grown at a CAGR of 41%. Gross margins as a percentage of revenues increased from 57.5% in 2021 to 59.2% in 2022. This improved performance was aided by a product mix with new professional products at higher ASPs.

The company plans to use the proceeds for clinical studies, R&D, marketing, company employment, working capital, and platform fees.

The management is experienced and skilled.

Thomas G. Muehlbauer, Chairman, Founder, Product Inventor and R&D Head, President, Director
Fortune 500 senior executive experience with over 40 years of CEO and startup skills including acquisitions, capital formation, and public market transitions. Prior to founding AVACEN in 2009, Mr. Muehlbauer started an Internet company that was sold to a publicly traded company, bringing a return to founding investors of over 180% in 2 years. As a hands-on investor, he engineered the startup growth and sale of World View, International, providing multimillion-dollar returns to shareholders in less than a three-year period.

Anthony P. Shimkin, CEO, President,& Director
Throughout his extensive career, Mr. Shimkin held key marketing and innovation leadership roles at several notable companies, including Qualcomm, where he served as senior director of marketing and later, senior director of business development. Before that, he held senior executive positions at Lantronix, Quidel, Cardinal Health, Alaris Medical Systems, and Neoforma. He also led the health care equity research team at Wedbush Securities and consulted for leading life sciences companies including Abbott, Boston Scientific, Genentech, Roche, and Sanofi. Anthony received his M.B.A. from Boston University, an M.A. from Boston University School of Medicine, an M.S. from the University of San Diego, and a B.A. from Boston University.

Rhonda R. Migliaccio, CFO & VP Administration 
Rhonda has 35+ years of experience in Finance focusing on business development, international trade, and business relations. Fortune 100 company and startup experience. She has a B.A. from the University of Wyoming.

Danielle J. Forsgren, Co-Founder, CMO and Board Member 
Danielle has over 40 years of experience in sales and marketing. She has extensive theatre, radio, public speaking, and TV experience including multiple appearances on QVC. As the Company’s top salesperson and Chief Marketing Officer, she is currently developing several strategic initiatives to expand sales. Her efforts over the last 3 years have placed the Company on the INC. 5000 list of fastest-growing companies in the US. She studied at International University and the University of San Diego.