Charlottesville, VA (GLOBE NEWSWIRE) - RIVANNA®, developers of world-first, imaging-based medical solutions, today announced the purchase of a 10,000 square-foot facility in Charlottesville, Virginia, with acreage earmarked for new construction. The venture accommodates RIVANNA's plans to hire additional personnel and expand manufacturing capacity for its Accuro® product line, thus signaling a new growth phase for the company.
Will Mauldin, PhD, co-founder, and CEO of RIVANNA, commented, "These investments in facilities, operations and people reflect RIVANNA's commitment to excellence. With the increased demand for our products and technologies, we have grown our team and expanded our workspace to ensure that we always respond to market demand with unmatched quality and customer service."
The facility, originally designed for research and development, includes five separate laboratories and manufacturing and office space. State-of-the-art research and development pods allow RIVANNA to accelerate progress on its next-generation product platforms, including the Accuro 3S and Accuro XV. The latter is a computer-aided 3D fracture detection and diagnosis product in development with support from the Biomedical Advanced Research and Development Authority (BARDA), part of the Office of the Assistant Secretary for Preparedness and Response at the U.S. Department of Health and Human Services, through contract number 75A50121C00035.
The new product platforms in development utilize RIVANNA's patented technologies, including Multi-Probe Multi-Angle BoneVision™, an automated image-acquisition technique based on a series of novel, three-dimensional, ultrasound-based, bone-imaging technologies that increase angular image sensitivity to bone surfaces. Commercialization of the Accuro 3S and Accuro XV will address a billion-dollar market opportunity in pain management, neurology, oncology and emergency medicine.
Essential space gained in the move will also increase RIVANNA's manufacturing capacity to meet growing global demand for the Accuro product line and related medical equipment and components.
"This is an exciting time for RIVANNA," commented Will Mauldin, PhD, co-founder, and CEO of RIVANNA. "After a swift transition to the new building, we are ready to hit design and development milestones related to our next-generation product platforms. The expansion is an instrumental part of RIVANNA's continued growth and mission to elevate the global standard of care."
RIVANNA® is elevating global standards of care through the development and commercialization of world-first imaging-based medical technologies, including BoneVision™ and BoneEnhance®, which optimize ultrasound image acquisition and visualization to provide radiation-free alternatives to X-ray-based imaging modalities. When paired with SpineNav3D™ AI-Enabled Image Recognition technology, these products offer comprehensive clinician-assistance solutions that improve decision-making, clinician workflows, health outcomes and patient satisfaction. RIVANNA is privately held and operates an FDA-registered and ISO 13485:2016 certified manufacturing facility where it produces the Accuro® product line and related medical equipment and components. For more information, visit rivannamedical.com.
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