The Upper Cumberland Investment Alliance has announced its first investment in ATS Innovations, described as “a pioneering medical device company.”
According to a press release, the investment is aimed to support the development and commercialization of the company’s “groundbreaking” product, the MetaFlex Therapy Glove. Officials say the investment “marks a significant milestone for both ATS Innovations and UCIA, underscoring their shared commitment to fostering innovation and driving economic growth in the Upper Cumberland region.”
The MetaFlex Therapy Glove, developed by ATS Innovations, is a wearable device designed to assist individuals with hand impairments in regaining mobility, strength and dexterity.
“Leveraging cutting-edge technology and advanced materials, the MetaFlex Therapy Glove offers a non-invasive, user-friendly solution for rehabilitative therapy, enhancing patient outcomes and quality of life,” the press release reads.
The investment from UCIA will provide ATS Innovations with the necessary resources to accelerate the development, manufacturing and commercialization of the MetaFlex Therapy Glove. Additionally, the partnership with UCIA will offer ATS Innovations access to mentorship, expertise and networking opportunities, further supporting the company’s growth and success.
“We are thrilled to receive this investment from the Upper Cumberland Investment Alliance,” said Téa Phillips, founder and CEO of ATS Innovations. “Their support not only validates the potential of MetaFlex but also enables us to bring this transformative technology to market faster, helping more people to get a grip on their hand health. We look forward to collaborating with UCIA to drive innovation and economic development in Tennessee.”
Phillips is a Tennessee Tech mechanical engineering graduate who started working on the MetaFlex glove during her undergrad years and won the Eagleworks Innovation Contest in 2018. After graduating and working for Y-12 National Security Complex in Oak Ridge, Tennessee for a few years, she decided to pursue entrepreneurship and focus on bringing the MetaFlex to market, working with the Biz Foundry Entrepreneur Center in Cookeville.
Gene Bressler, chairman of UCIA, emphasized the significance of investing in local talent and innovative solutions.
“ATS Innovations exemplifies the ingenuity and entrepreneurial spirit that define our region,” said Bressler. “We are proud to support their efforts to develop cutting-edge healthcare technology that has the potential to make a meaningful impact on the lives of individuals with hand impairments. This investment reflects UCIA’s commitment to fostering innovation, creating jobs, and building a thriving ecosystem of technology-driven businesses in the Upper Cumberland area.”
