CHGT: Healthcare and Medical Industries a Growing Market for 3D Printing
By Business Wire News
By Business Wire News
3D printing is quickly becoming a vital component in the healthcare and medical fields, a trend that has caught the eye of Changing Technologies, Inc. (OTCBB:CHGT) as it seeks to expand into new markets and open additional revenue streams.
Forecasts show 3D printing for medical applications will enjoy an impressive 15.4 percent compound annual growth rate (CAGR) over the rest of this decade. The market will increase to $965 million by 2019, up from $354 million in 2012.
“Healthcare and medical are areas that show tremendous future growth possibilities,” said CHGT CEO Marco Valenzuela. “We’ll continue to pursue all opportunities there as they offer solid revenue potential and a means to build shareholder value.”
Medical researchers have made great advances in using 3D printing technology. A company in the U.K. recently perfected a process to dramatically cut the cost of prosthetics, manufacturing a set of bionic hands for amputees using 3D printing.
Hospital-made prosthetics can cost $100,000. 3D printing can make prosthetic hands that are also lighter and more comfortable for the wearer for a fraction of that price. Currently, two million people in the U.S. are living without a limb and could benefit from a 3D-printed prosthetic. There are an additional 185,000 amputations in the U.S. each year.
For more information on CHGT, please visit www.changingtechno.com.
For more information on 6th Dimension Technologies, please visit http://www.6d3d.com.
About Changing Technologies, Inc.
Changing Technologies, Inc. (CHGT) is an emerging technology company focused on developing innovative concepts to bring to consumers. It recently created a new subsidiary — 6th Dimension Technologies — to pursue additional growth areas and market needs in the booming 3D printing sector. A forward-thinking company working to be at the forefront of the next generation of consumer-based technology, CHGT is positioning itself to leverage global demand for the latest technological advances and services the company offers. Changing Technologies, Inc. is in the cutting-edge technology sphere alongside companies like Voxelijet AG (VJET), Arcam AB (AMAVF), and ExOne Co. (XONE).
Notice Regarding Forward-Looking Statements
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words “believes,” “expects,” “anticipates” or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone’s past success, either financial or strategic, is no guarantee of success. This news release speaks as of the date first set forth above and the Company assumes no responsibility to update the information included herein for events occurring after the date hereof.
Changing Technologies, Inc.
Marco Valenzuela, 713-300-3806
President and CEO