A Dallas CEO is a generation designed for the battlefield to help first responders save lives on the front of the house.
Compression Works, a medical device company, is raising a new budget to market what CEO Scott Dodson calls the “Swiss Army knife of tourniquets. “
“Necessity is the mother of invention, and that’s what drove our generation’s initial activity,” Dodson told Dallas Innovates. bleeding at the point of injury and allowing them to stabilize the patient and bring them to a definitive point of care. “
Unlike classic tourniquets, which Dodson says are suitable for superficial wounds and those of the extremities, the Compression Works device, called a stabilized abdominal and aortic junction (AAJT-S) cross, can be used to prevent bleeding in spaces such as the shoulder, abdomen and pelvis.
The device can be transported seamlessly through lifeguards for boxed use. In a five-step process, they place the device, attach it to a patient, and inflate a conical bladder that is inserted into the frame to prevent bleeding.
Dodson said his company is also exploring possible uses to help stabilize patients with a center attack on their way to the hospital and to prevent postpartum hemorrhage, which he says is one of the leading causes of maternal death outside the United States.
“The genius of our device is that it’s also a belt-like formula that wraps the patient around five other parts of their anatomy,” Dodson said. “When you put pressure on that bladder, it literally swells in a cone-shape. “in the body, urgent against the vessels and end the bleeding as if you were turning off a tap. “
Compression Works was co-founded in 2008 through Dr. John Croushorn and Dr. Richard Schwartz so that the device can be used by army special forces in the field. Both co-founders are veterans and obtained FDA approval for the device within 8 days. At that time, the aircraft was recovered through special operations forces such as Navy SEAL and Army Rangers.
Dodson says that until about two years ago, the company largely operated as a passionate project. Then, the decision was made to scale the company as part of an effort led by Dodson, which has had fun at large tech corporations and many companies. startups backed. While the company was traditionally founded in Alabama, Dodson was founded in Dallas and says his corporate plans continue to develop from the North Texas area.
“We’ve turned the company around over the past two years, establishing distribution, not just from coast to coast in the U. S. The U. S. Department of Homeland Security to capture significant opportunity in rescue and tactical law enforcement markets, but also in foreign markets around the world. “world,” Dodson said.
Since the resolution to evolve, rather than sell assets or get rid of technology, Compression Works has expanded its presence and is now used in 18 countries and adds between five and six new countries in the same quarter, Dodson said. providers in the U. S. , all focused on the area of first aid. The device is recently used across several primary fire departments and EMS organizations, which are added in Dallas, New York and the Miami-Dade area.
Dodson said Compression Works is expected to generate more than $2. 5 million in profit this year, and profits are expected to exceed $25 million over the next two and a half years. All of this is accomplished with just one pre-boot lap of $320,000. This year, the company is also on track to sell more devices than it has collectively sold since its launch.
To continue its expansion trajectory, Compression Works is in the process of raising a $2 million convertible note, of which Dodson said it has closed about 75%. With this new funding, the company will recruit new members to expand its production functions and locate new consumers in the field.
“We think the momentum will continue to increase, given the applicability of this device and the fact that it’s so small and compact,” Dodson said. “He can fall into any vehicle or into the backpack of any doctor or paramedic and accompany him to the scene of the accident. “
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The news goes fast. We’re here for you to stay awake.
Every day of the week, Dallas Innova brings you what you may have missed in the region’s news about innovation, generation and impact. . . .
North Texas is a wonderful position with many opportunities.
We are for contests and contests; acceleration and popularity programs; and resource and grant opportunities for North Texas innovators. . . .
The University of North Texas Health Science Center at Fort Worth (UNT HSC) aims to launch the next batch of wonderful concepts to shape the industry’s long-term.
Last June, we wrote about Capital One’s plan for a “hybrid workplace,” which would affect more than 5,000 DFW members and 52,000 workers in total. running in the workplace and some of your time running virtually.
The news goes fast. We’re here for you to stay awake.
Every day of the week, Dallas Innova tells you what you may have missed from the region’s news about innovation, generation and impact.
North Texas is a wonderful position with many opportunities.
We are for contests and contests; acceleration and popularity programs; and resource and grant opportunities for North Texas innovators. . . .
The University of North Texas Health Science Center at Fort Worth (UNT HSC) aims to launch the next batch of wonderful concepts to shape the industry’s long-term.
Last June, we wrote about Capital One’s plan for a “hybrid workplace,” which would affect more than 5,000 DFW members and 52,000 workers in total. running in the workplace and some of your time running virtually.