Novoxel launches as the latest medical device start-up in Knoxville
Its flagship device, Tixel, helps with wrinkles, age spots, stretch marks, active acne, and bags under the eyes.
When most people think of Knoxville, their minds don’t necessarily render medical supplies as a top industry. However, healthcare and medical innovations are being produced in this region at a rate and quality that is quite impressive.
Take, for example, DeRoyal Industries Inc., a more than 50-year-old supplier of patient care products, orthopedic supports and bracing, surgical and safety devices, wound care products, and Continuum integrated inventory management technologies. The company has a workforce of 1,900 employees and operates collectively between 20 facility locations in five countries, with manufacturing assets on two continents.
More recently, Winter Innovations, co-founded by two University of Tennessee (UT) alumni developed the Easy Whip stitching needle for orthopedic surgeries. Other emerging start-ups in the region include Orion Therapeutics, iO Urology, New Day Diagnostics, and NellOne Therapeutics.
Finally, the UT System, UT, Knoxville, and the UT Medical Center constantly roll out new R&D efforts, which creates a landscape of acceptance for uniquely innovative concepts in every industry.
All of this created the perfect ecosystem for a new medical supply company to take center stage. Novoxel has been selling its Tixel technology since 2011 internationally; however, just within the past three years, it has been approved by the U.S. Food and Drug Administration (FDA) for medical use in the United States.
The company’s offices are finalizing renovations in a business park near the Cedar Bluff area, and Novoxel leadership cannot wait to get started.
“This company is sort of a startup,” said newly appointed Chief Executive Officer (CEO) Lee Pannell. “In the U.S., we had a distributor but we are now transitioning to be fully direct. It will be our flagship for operations worldwide.”
Pannell has been a leader in the medical aesthetics industry for 30 years. He has owned and sold two companies and is well-positioned to help lead another.
“My friend was the inventor of the Tixel technologies (which is the flagship innovation for Novoxel), and he asked me to come on board to help establish and grow the company,” Pannell said.
Since Pannell joined, the company has grown to sell its devices in 60 countries around the world – pretty much everywhere besides the United States. As soon as the FDA cleared the medical devices, Pannell helped shift the USA to direct distribution. He was proud to share that Novoxel was cash-flow positive in the first week.
The Tixel technology is unlike anything on the market for aesthetics. It can help with wrinkles, age spots, stretch marks, active acne, and bags under the eyes. In addition, the pain is low, and the recovery time is significantly less than other devices currently on the market.
“For the versatility and the price point, it is truly a great value for both the doctor and patient,” Pannell said. “Our mentality is to get as many as possible out there. Let’s help the public. Let’s give them something affordable.”
Pannell said within two years, Novoxel has sold 600 Tixel devices, which is unheard of in the aesthetic medical device space. Normally, a company would be lucky to sell 100 in the first year. However, it’s not just the technology Novoxel is selling – it’s the service.
“We take a different approach. We support our owners. Although repairs are rare, if a customer calls us today with an issue, tomorrow morning, they will have a new handpiece or system, or whatever is needed to do to get them back up and running,” Pannell said. “Taking care of our customers is our primary thing.”
So, why would this budding medical supply company select Knoxville as its headquarters?
“With everything Knoxville has going in the medical space, it creates a good landscape for more medical innovators to come here,” Pannell said. “We want to make a statement that Knoxville is a place where innovative medical devices can be developed for the U.S. and the worldwide market.”
To learn more about Novoxel, visit the website.
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