ENvue Medical, Inc. (NASDAQ:FEED) announced Monday that a 714-bed teaching hospital and Level I Trauma Center in the Detroit metropolitan area has purchased its ENvue Navigation Platform system along with compatible feeding tubes.
The acquisition expands the company’s presence within a Southeast Michigan health system where its technology has previously been deployed, increasing ENvue’s total U.S. hospital footprint to 39 facilities, according to a company press release. The update comes as ENvue’s shares trade around $1.43, down roughly 96% over the past year, leaving the company with a market capitalization of about $1.56 million.
The Detroit-area facility is a major teaching hospital within a regional health network and includes specialized institutes focused on oncology, cardiovascular care and pediatrics. The hospital operates medical, pediatric, surgical and cardiovascular intensive care units, along with a Level III Neuro-ICU.
“Preeminent teaching and non-teaching hospitals alike are seeking innovative technologies that can improve workflow efficiency while supporting cost containment and patient safety initiatives,” said Marc Waldman, Vice President of Commercial at ENvue Medical.
The ENvue Navigation Platform is a minimally invasive electromagnetic navigation system designed to help clinicians place feeding tubes within the gastrointestinal tract. The device received FDA 510(k) clearance for adult use and provides real-time bedside visualization of tube movement during placement procedures.
“This expansion within a leading Michigan health system reflects continued momentum in our commercial execution for the ENvue Navigation Platform,” said Doron Besser, Chief Executive Officer of ENvue Medical.
The company’s commercial progress comes despite financial challenges.
Headquartered in Tyler, Texas, ENvue Medical develops non-invasive technologies for enteral care used in both clinical and home healthcare settings. The company also operates research and development centers in Tel Aviv and Nesher, Israel.
According to ENvue, future platform developments may include applications for pediatric care and vascular access.
In other recent developments, the United States Patent and Trademark Office issued a Notice of Allowance for ENvue’s patent application covering a feeding tube design that integrates electromagnetic navigation with a distal-tip camera. The patent includes 18 claims and is intended to improve feeding tube placement by combining positional guidance with direct visualization.
The company also entered into a distribution agreement with U-Deliver to broaden access to its ENFit syringes through non-acute care channels across the United States. The partnership will leverage U-Deliver’s digital and wholesale networks to expand distribution in home healthcare and long-term care settings.
Separately, ENvue appointed Marc Waldman as Vice President, Commercial, where he will oversee U.S. commercialization strategy and efforts to grow the company’s hospital customer base beyond the current network of facilities.
ENvue has also amended its Long Term Incentive Plan to comply with Israeli tax regulations, introducing restricted stock units and other awards under Section 102. The update also reflects the company’s recent corporate name change from NanoVibronix, Inc. to ENvue Medical, Inc. These developments highlight ENvue’s ongoing efforts to strengthen product innovation, expand distribution and align with regulatory requirements.