Healthcare Technology Featured Article

May 01, 2014

Wheelings and Dealings: SOLS Receives Funding for 3D Print Orthotics


SOLS Systems, a maker of 3D printed orthotics, received over $6 million in Series A round financing from various investing firms. The company intends to not only use the funds for making orthotics, but to expand into other areas as well. The business is one example among many in 3D printing, which is already a billion dollar industry.

New York City-based SOLS Systems offers a new approach in the consumer orthotics market. Currently, customers have limited choices when it comes to orthotics. If anyone with biomechanical problems of the foot wants custom orthotics, that’s usually not possible without a visit to a podiatrist.

Over-the-counter models do not provide a custom fit. A few years ago, Dr. Scholl’s developed orthotics for different types of feet to overcome this problem. Customers could stand on a device similar to a scale that mapped pressure points and recommended a certain model of orthotic, but again, this fell short of being a customized solution.

SOLS customers can have their foot mapped, get a custom orthotic 3D printed and have the finished product shipped within two weeks. These orthotics are made of nylon, are washable, durable, resistant to microbes and available in different colors.

With the funding, SOLS will not only be able to print orthotics, but expand into other related areas. The company plans to develop medical and consumer brands of products.

According to Markets and Markets, the 3D printing industry is expected have a CAGR of 23 percent from 2013 to 2020, reaching $8.4 billion by 2020.

SOLS’ development of orthotics is another way that 3D printing technology is being used to develop products that consumers want. The company has filled a void in a market that had limited and costly options.

If SOLS is able to shorten the waiting time for a custom orthotic, it would improve on the way it has already differentiated itself from the competition. This would turn the consumer orthotic market on its ear and bring sighs of relief to millions who suffer from plantar fasciitis and related foot problems. 




Edited by Maurice Nagle
Get stories like this delivered straight to your inbox. [Free eNews Subscription]




SHARE THIS ARTICLE



FREE eNewsletter

Click here to receive your targeted Healthcare Technology Community eNewsletter.
[Subscribe Now]