Thursday, May 16, 2013

Mayor New's Impromptu MedHab Update

Mayor Alvin New provided the following comments in response to Councilman Johnny Silvas' request for a MedHab update, made in mid-April but yet to be honored:  Silvas indicated he had no axe to grind, he simply wanted to know about jobs.  New responded at the 4:22:30 mark

"Take a look at the COSADC paperwork that was sent out.  No but, that's fine with me, I don't mind at all, but it's been brought up multiple times in the election, so that you know, it is what it is.  The issue, if you look in the paperwork that was handed out, there are no dollars being spent at this time.  There are basically four jobs and I know a lot more than that, but let's go by what is presented.  OK."

Let's be clear, virtually nothing has been presented since Council and MedHab inked the deal.  Circulating a COSADC meeting packet to Council members isn't close to a public update.

Ironically after the April 16th Council meeting, I received a message from Public Information Officer Anthony Wilson that an impromptu update by the Mayor would've been out of bounds. 

The mayor could not have talked about MedHab at the last meeting without violating the Texas Open Meetings Act since a discussion of that topic was not included on the agenda.
I believe the council that approved MedHab's robust incentive package deserved a public update, especially before members step down or change roles.  That didn't happen.

Tech Fort Worth gave the update neither COSADC nor the Mayor shared:

Initially – beginning June 1 – the device will be marketed to athletic trainers and coaches for use in strengthening the legs of healthy athletes, but Ross said he hopes to win Food and Drug Administration approval so that physicians and physical therapists can begin prescribing the device for their patients before the end of the year.

Where will this production occur?  After garnering a $3.6 million economic development package, Ross stated retail production would occur outside San Angelo, something not represented to Council   

MedHab had a large commitment the day after the May 14 Council meeting.  The company had been nominated for a TECH Fort Work IMPACT Award, one of nine finalists.

MedHab didn't win the the TECH Fort Worth IMPACT Award for 2013, but it will have the opportunity to present to accredited investors:

All nine finalists will have an opportunity to pitch June 20 to angel investors from Cowtown Angels, the North Texas Angel Network and other Texas investors. 
Rest assured, those folks will get a more complete story than San Angelo's City Council, provider of a potential $3.6 million nondebt, nonequity capital injection.

Councilman Silvas need not apologize for wanting to know what's going on.  Promises were made.  What's the performance to date and what are the company's plans?

1 comment:

Jim Turner said...

Why has no one noticed there already shoes out there that do what MedHab is claiming to have invented? Nike & Apple, Adidas, and Reebok all have athletic training shoes with wireless sensors. They also all have patents that MedHab would likely have to license to manufacture and sell their products. That doesn't include patents held by such light weights as MIT or Stanford that go back a couple of decades.

Just one small sample of what the competition is doing is this article from MIT

Notice that this is from 2008 and references research from 2003.