Endonovo Therapeutics plans to roll out its SofPulse product to hospitals on a national level, according to a company statement.
The Woodland Hills business develops therapeutic devices that send electric pulses to a targeted area of the body; its leading device is SofPulse. Endonovo looks to have its devices replace opioids for pain management.
The company has signed agreements with six master distributors and plans to reach 600 hospitals in the next year and a half. Approximately 40 sales associates have been hired to meet demand right now, with Endonovo planning on having 300 sales representatives devoted to expansion after a year.
“Based on the current progress, we expect to be cash flow positive by this year-end and generating over $300 million in sales in 2020,” Alan Collier, chief executive for Endonovo, said in a statement.
To support the national rollout, Endonovo has appointed Ken Snider as national sales manager and Irvine-based Device Pharm as marketing firm of record, the company said. Snider has 30 years of experience with Pfizer Inc., selling products for treatment of high blood pressure, diabetes and arthritis.
Shares of Endonovo (ENDV) closed Monday at 1.25 cents on the over-the-counter market.