John Townsend of Gradient Technologies spent more than 15 years developing the QuadraBloc pain management discs and now hopes to take advantage of the estimated $1 trillion pain management business, according to a Commercial Appeal report.
Mr. Townsend began developing the product, which uses four dime-sized magnets to relieve pain, after suffering an injury in a bike accident. The device was licensed by Amway and sold over the counter as MagnaBloc until a 2004 lawsuit ended the sales. Amway sold the device for $160 each and realized $350 million in sales, but the license expired in 2008. Mr. Townsend revived the idea as a medical device rather than a direct-to-consumer product. QuadraBloc received FDA approval in October.
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Related Articles on Pain Management:
UC Davis Researcher Develops an Algorithm to Create Targeted Drugs for Pain
MRI Tests Unnecessary for Many Back Pain Patients
Researchers Attempt to Find a Way to Block the Transmission of Pain Signals