According to press releases, the American Association for Respiratory Care (AARC) and Edison Nation Medical have partnered to search for innovations for improving the process, outcomes, and comfort for patients requiring intubation and mechanical ventilation. Respiratory Care Therapists are encouraged to submit product invention ideas to be evaluated for safety and efficacy, intellectual property, and market potential. According to the announcement, “Edison Nation Medical will review each submission through an in-depth review process led by our team of medical, product development and legal experts. Promising ideas submitted throughout the search will be presented to leading medical device companies and healthcare retailers with whom Edison Nation Medical has partnered.” The AARC website announcement also states that winners will receive an advance of $2,500 and 50 percent of licensing royalties or revenues, and also notes that submissions are accepted through October 31, 2015.
According to its website, the AARC is a not-for-profit professional association founded in 1947 with more than 52,000 members worldwide, most of whom are respiratory therapists. Edison National Medical, according to its website, is a healthcare innovation marketplace with expertise in open innovation, product development, and medicine.