San Antonio Now Home to Innovative Trauma Care, Canada-based medical device firm
Innovative Trauma Care (ITC), a Canada-based early-stage medical device firm focused on developing point of injury solutions for trauma, first responder and military medicine applications, is making its U.S. headquarters in San Antonio, Texas. In addition to bringing a projected 80 jobs to the local economy over the next 5 years, there is a financial return for the City. San Antonio’s Economic Development Department has approved an investment of $300,000 into ITC through its Economic Development Corporation, with a promissory note that includes equity interest in the parent company. This is the first ever investment that the EDC has made with direct equity in a privately-funded company.
[youtube http://www.youtube.com/watch?v=ofcogwS_0FQ] ITC’s US office will focus on developing and fortifying sales, marketing and distribution channels, and will be located at 3463 Magic Drive in the San Antonio Technology Center. By the end of the calendar year, ITC will have approximately 10 US based employees to assist in the launch of the company’s first product, the ITClamp Hemorrhage Control System. San Antonio Mayor Julián Castro commented, “Continued growth in San Antonio’s healthcare and bioscience industry is a major aspect of the SA2020 plan. Innovative Trauma Care’s life-saving technology is a great addition to the impressive portfolio of innovative, life-saving bioscience companies that already call San Antonio home.”
“This investment with ITC creates high-wage jobs in the targeted biosciences Industry and continues the creation of a critical mass of innovative companies and entrepreneurs necessary for a high-performing economy,” said City Manager Sheryl Sculley.
Executive Chairman of the Board of Innovative Trauma Care, and San Antonio President, Phil Faris worked hand in hand with City leaders to develop and negotiate the arrangement.
“This is a uniquely beneficial opportunity for both San Antonio and ITC in terms of economic and industry growth, and I’m confident it will be a profoundly successful relationship,” commented Faris.
Innovative Trauma Care’s CEO and founder, Dr. Dennis Filips, said, “San Antonio is the up-and-coming epicenter of trauma medicine in North America. With an exceptionally strong bio-tech presence, an undeniable military influence, a business-friendly economy and a superior quality of life, it made sense for us to locate our US headquarters in the heart of Texas.” ITC’s first product, the ITClamp Hemorrhage Control System, is designed to address massive hemorrhage – a leading cause of death in traumatic injury – by controlling critical bleeding in as little as 5 seconds. The clamping device works by sealing the skin closed to create a temporary pool of blood under pressure, which forms a stable clot until the wound can be surgically repaired.
Incorporated in 2010 and based in Edmonton, Canada with a US headquarters in San Antonio, Texas, Innovative Trauma Care is addressing unmet needs in the field of emergency medicine by developing, manufacturing, and commercializing point of injury solutions to treat common causes of preventable death in traumatic injury scenarios.