WellsCare, an American health insurance company, has recently inked a store contract with a retail-as-a-service company, b8ta. Since 2019, WellsCare has been a member company of the Born2Global Centre.
As per the recent contract, WellsCare will make its hand-free wearable cold laser device for pain relief, IASO, available at all 18 locations of b8ta in the United States. Independently developed by this healthcare company, IASO is Epione’s global brand, which is a smart and wearable LoT laser therapy device. It is anticipated to start marketing IASO in Texas, San Francisco, New York, and Seattle stores in October and make it sequentially available across various stores in the country.
IASO has been significantly leveraged to treat visual display terminals (VDT) syndrome, a group of disorders including turtleneck (straight neck) and carpal tunnel syndromes caused by excessive use of personal computers and smartphones. Moreover, the product has been used to provide at-home treatment for chronic diseases as well as injuries that occur when engaging with sports. The product’s distinguishing factor is the adoption of the cold laser technology rather than the LED or low-frequency massage technologies. This cold laser technology has been effectively used in rehabilitative and orthopedic hospitals for pain treatment.
According to Lee Sung-won, CEO of WellsCare, the recent contract between the company and b8ta to sell IASO signifies the innovativeness and highly marketable characteristic of the product. It also has high growth potential in the U.S., the leading medical devices market across the globe. Through the deal, it is planning to expand the international sales channels on both offline and online platforms, by cementing the unrivaled status of IASO in the home healthcare device market. The market has been gaining high momentum due to its increasing recognition amid the COVID-19 pandemic.
The Korean government has previously granted WellsCare with a Class III medical device permit. The clinical data or results of the IASO tests conducted at several hospitals in Korea are expected to be published soon in a U.S.-based academic journal on clinical testing.