Published: 7/23/2010

Local biomedical firm receives $500,000 to develop rehab device

Turning Point LLC, a Toledo business working on a muscle-development machine for athletes and for patient rehabilitation, has received $500,000 from the Regional Growth Partnership.

The biomedical company based at the University of Toledo said Thursday it has received $50,000 in an initial grant and two other investments totaling $450,000 to market and develop the equipment, said Greg Knudsen, the growth partnership's director of its Rocket Ventures programs.

The company plans to make 10 to 12 prototypes, he said.

The growth partnership's investments were drawn from funds from state and private investors. The firm also has received $315,000 from other private investors.

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