2021 in review
The year 2021 will be marked for Adapttech as a year of many challenges, many projects, and, above all, a lot of success. It was an atypical year, but it ended in the best way, with a remarkable growth of our team and our products. Do you want to know more about this journey? Enjoy reading this blog post.
Fundraising
In March this year, Adapttech announced that it had raised £2 million in a new venture capital funding round. The round was supported by existing investors including the MEIF Proof of Concept & Early Stage Fund, which is managed by Mercia and part of the Midlands Engine Investment Fund; Bionova Capital (formerly Hovione Capital), as well as new investors including ACF Investors, Wealth Club, and Wren Capital.
Later in October, we announced we had been awarded €800K as part of the prestigious Demonstração P2020 grant programme.
The new funding is being primarily used for new product developments, and to drive sales of the INSIGHT system.
Awards
Throughout the year, we continued to be recognised for all our effort and success of our technology. We would like to thank you for all the nominations, and we promise to continue bringing great news to the O&P market in 2022! These were the achievements of this year:
Our Founder & CEO Frederico Carpinteiro has been chosen as one of Forbes’ 30 Under 30 Europe Class of 2021. Frederico was selected from tens of thousands of nominations as one of Europe’s top young innovators and entrepreneurs - we couldn’t be prouder of this accomplishment!
Most Innovative Biomedical Start-up 2021 - Global Health and Pharma Magazine
Business Cloud: MedTech 50 – Ranked nº 15
Nominated to Tranktion’s Top 100 UK Startup List for 2021
Biomedical Innovators of the Year - Portugal - Global Health & Pharma Awards 2021
One of the 10 coolest UK healthtech startups in 2021 - UKTN
Go Global Business Awards - MedTech Category 3rd place
Most Innovative in Medical Technology – Portugal - Prestige Awards 2021/22
Webinar Series
As a way of staying in touch with our audience and bringing insight to the market during these challenging times, we were holding monthly webinars throughout 2021. We had innovative and valuable content, special guests, and, above all, an amazing audience that accompanied us in these knowledge-sharing sessions.
We have created a partnership with ABC (American Board for Certification) that now allows us to hold accredited webinars for all CPO’s. Look forward to more content in the upcoming year - the monthly webinar series will continue! Click here to see our schedule.
Commercial traction
Quarantine and social distancing rules have had a significant impact on the non-emergency medical sector, including orthotic and prosthetic professionals and practices. Patients have been unable to attend clinics for appointments, and prosthetists have struggled with remote working. Despite this, Adapttech was able to support clinicians and install the INSIGHT System in new practices to facilitate more efficient working practices moving forward when patients return to clinics once again.
Successful events
On Friday, May 7th, Adapttech had the opportunity to share the latest outcome study results from the ongoing US dual-clinic trial of the INSIGHT System with industry experts at AAOP 2021. The study was conducted at two independent clinics – De La Torre Orthotics and Prosthetics in Pittsburgh, PA, and Prosthetics & Orthotic Associates in Middletown, NY – and used clinically recognized tests and validated scales for health, function, satisfaction, and pain level. The full report on the interim outcome study results can be found online here.
AOPA 2021 was held in Boston, September 9-11th. The Adapttech team was present with activities, workshops, and one-on-one meetings, and sparked quite an interest from attendees as traffic to exhibit booths stayed consistent.
We led a collaborative program of events with Cascade Orthopedic Supply, LP, to meet with clinicians from all over the country as they work hard to resume a more predictable patient care routine and was represented at the event by Cassandra Delgado (CPO, MSPO) and Mark Ford, our Business Development Consultant for the US Market.
In addition, we have been taking part in academic and technological events in Portugal, in order to inspire and create engagement with future professionals in the field.
Adapttech Beyond
Aiming to make a difference and help to improve the lives of those around us, we have launched some voluntary work initiatives as a company. These initiatives focus on different social and environmental sustainability topics, such as the health and well-being of people, and the protection of the environment. We are planning major developments for this project in 2022!
Partnership with Modus Health
In November, to end the year on a high note, we announced our partnership with the leading activity-monitoring company, Modus Health. Adapttech will now integrate and adapt Modus’ StepWatch™ software, the gold standard for accurate motion monitoring, into its future product designs and patient outcome models.
Team growth
This year is marked by Adapttech's new key hirings, which allowed a remarkable growth of the company, products, sales, and notoriety of the company.
This year we welcomed Gabriel Fragoso (Electronics Technician); Leonor Valente (Digital Marketer); Carla Sampaio (Full Stack Developer); Carlota Armillas (Product Design Engineer); Frédéric Desprez (Director of Sales); Ivone Jesus (Assembly and Test Technician); José Pedro Oliveira (Embedded Systems Engineer); Sara Loureiro (HR Generalist); and Vanessa Carvalho (Clinical Specialist).
In addition to all these hirings, throughout the year we welcomed interns from various areas who helped our teams to achieve their goals and increase their projects. Many thanks to all of you who were part of this journey.
We hope 2021 was as good to you as it was to us. Enjoy the holidays and let’s stay in touch in 2022!
