Buzzy 4 Shots shark tank Net Worth 2023
It is unclear what the exact net worth of Buzzy is as it has not been publicly disclosed. However, it is estimated to be around $15 million according to one source.
Another source states that the valuation of Buzzy was $10 million when it appeared on Shark Tank and its net worth was $5 million as of 2022.
Buzzy is a pain-blocking device designed to remove the pain of being injected, such as for vaccination shots. Dr. Amy Baxter, the entrepreneur who created Buzzy, appeared on Shark Tank in season 5 episode 18 in search of a $500,000 investment in exchange for a 5% stake in her business. However, she did not receive any offers from the Sharks and left without a deal.
After appearing on Shark Tank, Dr. Baxter continued to sell Buzzy directly to families, hospitals, and clinics.
She believes that Buzzy has already been installed in approximately 5,000 hospitals and clinics. As of November 2021, Pain Care Labs (formerly known as Buzzy) has an estimated net worth of $5 million.
What is Buzzy 4 Shots? Who is the Founder of Buzzy 4 Shots?
Buzzy is a small, innovative device that helps reduce the pain associated with injections, including those used for vaccinations.
This unique device is shaped like a bee and has ice-pack wings that use two pain control theories to transmit cold and buzzing sensations instead of the needle prick.
According to Dr. Baxter, Buzzy has been used in over 1200 hospitals and has more than 35,000 users. Dr. Baxter was named one of Inc. Magazine’s Top Women in Technology to Watch for her groundbreaking work in developing Buzzy.
Buzzy is not just for children. It can also be used for allergies, dermatology, diabetes, and other medical procedures.
Dr. Amy Baxter, a Pediatric Emergency Physician, founded Buzzy in 2009 after realizing that patients were more concerned with their personal discomfort than doctors.
Her invention was an excellent tool for children who were afraid of needles, but it could also be used for a wide range of patients and circumstances.
Dr. Baxter had to establish an official corporation to qualify for small business awards, so she did. Clinical studies have been conducted to validate the effectiveness of Buzzy.
Today, Buzzy is available in various sizes and versions, and Pain Care Labs, which Dr. Baxter leads as CEO, has introduced a growing range of additional products, including VibraCool for knees, elbows, and plantar fasciitis, and the DuoTherm, which combines vibration, hot, cold, and acupuncture.
Buzzy 4 Shots Shark Tank Pitch
Dr. Baxter was featured on an episode of Shark Tank in the fifth season, seeking a $500,000 investment for a 5% stake in her company, which suggested a valuation of $10 million.
Her product, called Buzzy, had undergone clinical studies and demonstrated a 50-80% reduction in discomfort.
Buzzy was already being used in 1,200 hospitals and clinics, and the company held two patents, with four patent applications pending and two foreign patents in progress.
Despite having only six part-time employees and no sales representatives, Buzzy had generated $660,000 in gross profit and $270,000 in net profit, despite no active sales efforts. However, Kevin O’Leary expressed concern about the value and lack of a unified sales plan.
Dr. Baxter hoped to use the investment to scale Buzzy and sell the product in big box retailers, but Lori Greiner and Kevin O’Leary advised her to market to physicians instead of consumers.
Barbara Corcoran, who had previous experience in the medical consumer product industry, was hesitant to invest in the venture.
Although O’Leary and Robert Herjavec offered $500,000 for a 20% stake in the company, Dr. Baxter rejected the offer, believing that it required too much equity.
Mark Cuban made the same offer, but Dr. Baxter declined and left the Tank without securing an investment from any of the Sharks.
However, Buzzy continued to sell directly to hospitals, clinics, and families, and has since expanded its product line to include VibraCool Vibrational Cryotherapy and DistrACTION devices for a range of chronic pain conditions.
The company has since been renamed Pain Care Labs and has a yearly revenue of $5 million as of November 2021.
Buzzy 4 Shots Net Worth
Dr. Baxter appeared on Shark Tank season 5 episode 18 in search of a $500,000 investment in exchange for a 5% stake in the firm. This suggests a $10 million valuation.
Buzzy 4 Shots Competitors
Buzzy 4 Shots faces competitions in its market space that includes; ShotBlocker.
Buzzy 4 Shots FAQS
What is Buzzy 4 Shots?
Buzzy is a cool little device meant to alleviate the agony of injections, such as those used for vaccinations.
Who is the Founder of Buzzy 4 Shots?
Buzzy 4 Shots was founded by Dr. Amy Baxter in 2009.
How much was she seeking in the Shark Tank?
Dr. Amy Baxter was seeking $500,000 for 5% stake in her company.
Did she get the deal from the Sharks?
Dr. Baxter got no deal from the Sharks.
What happened to Buzzy on Shark Tank?
Dr. Amy has continued to sell her Buzzy pain reliever directly to families, hospitals, and clinics for an average of $40 since rejecting down the offers on Shark Tank.
Buzzy, she says, is currently in around 5,000 hospitals and clinics.
How much does a buzzy cost?
A gadget costs between $70 and $100, or $40 for a consumer version. They include “distraction cards” for kids and paediatric personnel.
Does Buzzy really work?
Buzzy alleviates pain without the need of medicines. The buzzing works in the same way that massaging a swollen elbow relieves pain and cold flowing water cools a burn.
Buzzy can be used alone or in conjunction with other methods of pain management if necessary.
Is Buzzy a medical device?
Baxter was fortunate in that the FDA classified Buzzy as a Class I medical device, which considerably eased the regulatory process in the United States. The gadget is now accessible all over the world.
What is a buzzy bee?
The Buzzy Bee is a portable vibrating gadget with detachable ice wings that may be used to provide pain treatment and diversion for children enduring unpleasant operations.
Is Expedited Shipping Available?
They don’t provide expedited shipment. Orders received before 11 a.m. EST are normally sent the same day.
The majority of items are mailed by USPS and arrive between 2-5 business days. Amazon has the most expedited shipping choices.
How quickly do they ship online orders?
Orders for in-stock goods are sent within 1 – 2 business days. The delivery time depends on the amount of shipping service chosen. They are unable to ship using DHL.
Does Buzzy work for shots?
Buzzy operates by making contact. Compared to lotions or sprays, Buzzy enables for speedier treatments with less patient suffering, according to research.
What is net worth of Amy Baxter?
Amy Baxter’s net worth is unavailable.
Where is Buzzy located?
They are based in Atlanta, Georgia, United States.
