Business Journal Blog 2016
January 15, 2016
Exclusive: Katy medical device co. to quintuple headcount
By Joe Martin – Reporter, Houston Business Journal
Article:
With the recent blockbuster movie "Concussion" bringing the conversation of traumatic brain injuries to the forefront of American athletics, doctors and coaches alike have begun to take a renewed interest in player safety, and Katy-based Red Oak Instruments LLC is in a perfect position to capitalize.
Red Oak Instruments makes medical devices and software that allow first responders, physicians and others to monitor the symptoms for concussions and brain injuries.
"The catalyst is that people are beginning to realize that concussions are serious and we need to measure them," said William Paske, CTO of Red Oak Instruments.
It's for that reason that clinicians are calling Red Oak to get its equipment to become a concussion specialty practice, Paske said.
The company plans to hire 20 to 25 employees by year end. Most of the jobs would primarily be for physical therapists to help Red Oak develop its call center, according to Paske.
The call center, which hasn't opened yet, could be in Katy at its current office or somewhere else around the U.S. Red Oak has raised around $1 million thus far, and plans to raise another $1 million as it expands its footprint nationally.
"We expect to turn this into $15 million in a couple of years in the Houston market," Paske said. "As we go national, that will grow considerably. What we’re trying to do is not grow too fast because we want to control what's being done with the equipment."
Another Houston-based company, Integrated Bionics, also developed a headband for concussion awareness. It's since expanded into sports diagnostics and training technology.
