GlobeNewswire Inc | Feb 2, 2021 10:00AM EST

February 02, 2021

HAUPPAUGE, N.Y. and MINNEAPOLIS, Feb. 02, 2021 (GLOBE NEWSWIRE) -- Intelligent Product Solutions (IPS) and Kablooe Design, today announced the launch of a complete medical device design and engineering service, leveraging the expertise of these two award-winning product design firms. IPS and Kablooe, subsidiaries of Forward Industries (NASDAQ: FORD), have complementary services that help medical device companies successfully design, develop and launch new products.

With this complete medical device engineering and design offering, IPS/Kablooe services ensure speed to market of medical device products, successful user adoption and assurance of market advantage. The IPS/Kablooe combined services offering includes human factors engineering, verification and regulatory support along with upfront research and testing.

Our combined expertise is unmatched in the industry and enables us to deliver the best-in-class medical device design services, said Mitch Maiman, president of IPS. Located in the heartland of medical device development, Kablooe has a strong reputation, expertise and track record in medical device design and we are thrilled to join with them to deliver this complete medical device design service.

Tom KraMer, CEO of Kablooe commented, With the extensive design and engineering service offerings available through this partnership, our clients are assured of an expert team from start to finish. We are agile, user centric, and flexible enough to always adapt our services to the needs of our clients, whether it is invention, feasibility, proof of concept, or design for production manufacturing. We now have the power to do it all.

Among its medical product design projects, IPS was awarded the GOOD DESIGN AWARD for its work on the AdhereTech Smart Pill Bottle, a personal medical device leveraging IOT technology to address medication adherence. The AdhereTech Smart Pill Bottle is currently used by leading pharmaceutical companies and pharmacies across the globe.

Kablooes many medical device design projectsinclude the world class design and development of the Rezum surgical system. Kablooe went from beginning to end with NxThera to get the Rezum system into hospitals and clinics in the U.S. and worldwide, leading to its acquisition by Boston Scientific.Nonin Medical has also regularly partnered with Kablooe, and most recently they worked together to create a patient monitoring solution that was easy to use and provided consistent measurements time after time in a rugged, reliable way for emergency responders.

CEO and Chairman of Forward Industries Terry Wise commented, The integrated service offering combining the first-rate competencies of both Kablooe and IPS underpins our acquisition strategy. Forwards ability to provide excellence in medical device design and engineering, a fast-growing sector, clearly positions the company for continued growth.

About IPS

IPS, a subsidiary of Forward Industries (NASDAQ: FORD), is an award-winning global product design and development company that isheadquartered in New York. IPS offersexpert product design and engineering services, includingInternet of Things (IoT) andwearable technology solutions.Its clients are among the leading brands in consumer electronics, medical devices, enterprise and security solution providers, and IoT-connected solutions, including AdhereTech, Google, Physio Control, Zebra Technologies, and charity: water. To learn more about IPS, visit http://www.intelligentproduct.solutions or contactinfo@ips-yes.comor @IPSdesigners.

About Kablooe

Kablooe, founded in 1991, is a leading product design and development company that is headquartered in Minneapolis, Minnesota. Kablooe offers expert product design and engineering service. Its clients are among the leading brands in consumer electronics and medical devices. To learn more about Kablooe, visitwww.kablooe.com.

About Forward Industries

Incorporated in 1962, and headquartered in Long Island, New York, Forward Industries is a global design, manufacturing, sourcing and distribution group. The company has a 30-year plus track record of Far Eastern sourcing capability. Forwards products can be viewed online atwww.forwardindustries.com.

For more media information, contact:Lisa Hendrickson/LCH Communications516-767-8390lisa@lchcommunications.com