What Happened to Buzzy 4 Shots after the Shark Tank pitch?
What is Buzzy 4 Shots?
Buzzy is a fascinating little gadget designed to make injections, such as those needed for vaccines, less painful.
The Gate Theory of Pain Control (the vibration) and the Descending Noxious Inhibitory Control (the ice) are used in this bee-shaped gadget with ice-pack wings to force the nerves to transfer emotions from the cold and buzzing rather than the needle prick.
According to Dr. Baxter, Buzzy is utilized in over 1200 hospitals and has over 35,000 users. She was designated one of the Top Women in Technology to Watch by Inc. Magazine. This isn’t only for kids.
According to their website, “in addition to injections and IVs, Buzzy may be used for Allergies, Dermatology, Diabetes, and much more.”
Who is the Brains Behind Buzzy 4 Shots?
Dr. Amy Baxter founded Buzzy. She started Dr. Buzzy in 2009. Amy Baxter worked in the field of Pediatric Emergency Medicine.
She has since retired from direct medical practice in order to focus solely on her work as CEO of Pain Care Labs.
She was in the Emergency Department in 2009, aiming to teach herself and other doctors how to relieve patients’ pain without the use of medications.
She came up with the Buzzy while researching and understanding more about gate control in the brain and nerves.
Dr. Baxter noticed that people are more concerned with their own suffering than doctors are.
Children who are scared of needles are becoming more common, and the Buzzy was an excellent tool for them, but it may also be used for a variety of other patients or situations.
She needed to incorporate in order to be eligible for the small business awards she was interested in, so she did. Clinical trials have been carried out to validate the concept’s effectiveness.
The little bee is now available in a number of types and sizes, as well as a growing selection of other Pain Care Labs products such as VibraCool for knees, elbows, and plantar fasciitis, and the vibration/hot/cold/acupuncture used in the DuoTherm.
What Happened to Buzzy 4 Shots During the Shark Tank pitch?
Dr. Baxter appeared on Shark Tank season 5 episode 18 looking for a $500,000 investment in exchange for a 5% share in the company. This suggests a $10 million valuation.
She elaborates on the Buzzy concept. The product has been subjected to clinical trials. It relieves pain by 50 to 80 percent. Currently, it is offered in 1,200 hospitals and clinics.
Buzzy is the owner of two patents, four patent applications, and two international patents in the works.
Buzzy’s sales for the current year are $1 million, and he plans to sell $2.5 million the next year. 30,000 have been sold thus far.
She has six part-time employees but no salespeople.
Despite the fact that she has no active sales activities, she has earned a gross profit of $660,000 and a net profit of $270,000.
Kevin O’Leary points out that she is demanding a higher investment than her previous year’s net earnings.
Dr. Amy gives the example of Ava the Elephant, but Barbara Corcoran answers by noting that she ended up paying significantly more than the initial deal before Ava made it to market and that the consumer medical device sector is extremely difficult to get into.
The plan backfires. Barbara has already “climbed a mountain” with Ava the Elephant and is wary of attempting another medical consumer product. She’s no longer there.
Kevin O’Leary is unhappy with the value and her lack of a coordinated sales strategy.
Dr. Amy needs the money to scale. Buzzy should work in big-box stores, according to her. Going inside a big box shop is a bad idea, according to Kevin O’Leary.
Lori Greiner agrees with O’Leary’s assessment and advises Dr. Amy to promote to physicians rather than consumers. She’s no longer there.
O’Leary makes a $500,000 bid for a 20% ownership. On the offer, Robert Herjavec is willing to work with O’Leary.
According to Dr. Amy, there is far too much equity.
Mark Cuban makes the same $500,000 offer for a 20% stake in the firm.
“I’m afraid your arrogance may force you to walk out these doors because you believe you can manage it on your own,” Barbara Corcoran cautions Dr. Amy.
She is entirely accurate. The Doctor retains her opinion and refuses the offers. She leaves the Tank without a Shark contract.
What Became to Buzzy 4 Shots Following the Shark Tank Pitch?
Since rejecting the Shark Tank proposals, Dr. Amy has continued to sell her Buzzy pain reliever directly to families, hospitals, and clinics for an average of $40.
Buzzy, she claims, is now in 5,000 hospitals and clinics.
Buzzy has added VibraCool Vibrational Cryotherapy and DistrACTION devices for knee pain, tendinitis, carpal tunnel syndrome, plantar fasciitis, and other chronic pain problems to its product range.
The firm was renamed Pain Care Labs.
The company is still in business and has an annual revenue of $5 million as of November 2021.
What is the Buzzy 4 Shots’s Net Worth?
Dr. Baxter appeared on Shark Tank season 5 episode 18 looking for a $500,000 investment in exchange for a 5% share in the company. This suggests a $10 million valuation.
Who the Competitors of Buzzy 4 Shots Competitors?
ShotBlocker is one of the competitors in Buzzy 4 Shots’ market sector.
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What Happened to Basic Outfitters After Shark Tank?
Buzzy 4 Shots FAQS
1. What is Buzzy 4 Shots’ Target Audience?
Buzzy 4 Shots’ target audience is patients and consumers who are unhappy with the pain reduction products they have been using.
2. Where can they buy Buzzy 4 Shots?
Buzzy, she claims, is now in 5,000 hospitals and clinics.
3. What is Buzzy 4 Shots’ Most Significant Competitor?
ShotBlocker is one of the competitors in Buzzy 4 Shots’ market sector.
4. How does Buzzy 4 Shots work?
Buzzy 4 Shots works by blocking the pain signals sent to the brain, which in turn reduces the patient’s perception of pain.
5. Who founded Buzzy 4 Shots?
Dr. Amy Baxter founded Buzzy 4 Shots in 2009.
6. How Dr. Amy Baxter did came up with the idea?
She was in the Emergency Department in 2009, aiming to teach herself and other doctors how to relieve patients’ pain without the use of medications.
She came up with the Buzzy while researching and understanding more about gate control in the brain and nerves.
7. Where is Buzzy 4 Shots headquartered?
They are based in Atlanta, Georgia, United States.
8. How much was Buzzy 4 Shots seeking in the Tank?
Dr. Amy Baxter was seeking $500,000 investment in exchange for a 5% share in the company. This suggests a $10 million valuation.
9. Did she get the deal?
She leaves the Tank without a Shark contract.
10. What happened to Buzzy 4 Shots after the Tank?
Since rejecting the Shark Tank proposals, Dr. Amy has continued to sell her Buzzy pain reliever directly to families, hospitals, and clinics for an average of $40.
11. Is Buzzy 4 Shots still in business
Yes, the firm was renamed Pain Care Labs. The company is still in business and has an annual revenue of $5 million as of November 2021.
