NuLife Sciences announced the establishment of a new wholly owned subsidiary NuLife Medical for the application of their proprietary patented technology for the treatment of chronic wounds.
NuLife Sciences (OTCQB:NULF) announced the establishment of a new wholly owned subsidiary NuLife Medical for the application of their proprietary patented technology for the treatment of chronic wounds.
As quoted in the press release:
Wounds that resist closure or healing, such as diabetic foot ulcers, present significant risks to patients and are a substantial cost burden to the healthcare system. Preliminary application of the NuLife Technique to wound care suggests tremendous potential to help patients and provides healthcare professionals with a solution for addressing these life threatening chronic wounds. The global market for chronic and acute wound care is substantial, and growing rapidly. Estimates suggest it is expected to exceed $20 billion by 2021.
“This represents the second application of the NuLife platform,” said John Hollister, NuLife Sciences Chief Executive Officer. “Our new wound care subsidiary is an opportunity to help many people by addressing another life altering challenge. We are exploring ways to develop this model both within the United States and outside the United States, as major market opportunities exist in Latin America and Asia as well.”