Therma Bright Signs New Strategic Customer, Horizon Health, Currently Selling over 35,000 Compression Products Annually

• On 2026-03-31, Therma Bright announced an initial commercial order for 100 Venowave units from Horizon Health, a Baltimore-based durable medical equipment distributor.
• Horizon Health prescribes over 3,000 compression products monthly and maintains relationships with major hospital networks including MedStar Health and University of Maryland, alongside 50+ surgical centers.
• The order follows a successful 2025 proof-of-concept phase and is positioned as a launchpad for broader Mid-Atlantic and national U.S. distribution.
• Management disclosed plans to evaluate Venowave for cosmetic and wellness applications, specifically targeting lymphatic drainage and post-procedure recovery in aesthetic clinics.
• This announcement builds on the 2026-01-20 follow-on order of 200 units from Texas-based distributor Gen-X Med, indicating a pattern of small-scale, distributor-led commercial traction.

• The 100-unit order represents incremental commercial validation but lacks scale relative to the company's operational and financial footprint.
• Revenue contribution from this single order is immaterial in the near term and does not offset the company's severe liquidity deficit.
• The partnership with Horizon Health is strategically sound for market penetration, yet execution risk remains high given the company's minimal cash balance and lack of disclosed manufacturing capacity scaling.
• The cosmetic/wellness exploration is speculative and lacks clinical or regulatory milestones, offering no immediate financial upside.
• Overall, the news is positive but routine, aligning with previously stated commercialization goals without altering the fundamental risk profile.

• Therma Bright develops and commercializes Venowave, a portable, battery-operated pneumatic compression device designed for post-operative vascular recovery, DVT prevention, and lymphatic drainage.
• The flagship project targets orthopedic surgeons, surgical centers, and home-care patients seeking mobile alternatives to traditional tethered compression systems.
• The company also holds minority equity positions in early-stage biotech ventures, including InStatin (17.3% stake, inhaled statin therapies for COPD/asthma) and Inretio Ltd. (7.5% stake, blood clot retrieval technology), both currently valued at $nil on the balance sheet.