London: A 14-year-old boy who came up with the idea of a first aid kit dispensing vending machine says he has turned down a substantial buyout offer.
Taylor Rosenthal, from Alabama, rejected a $30 million (£20 million) offer from a “large national healthcare company” to sell his idea. He has already raised $100,000 (£69,000) in various angel investments and in the future, plans to sell the machines for $5,500 (£3,830) each.
He also said he is open to advertising on the machines. His startup, RecMed, will sell vending machines which will dispense pre-packaged first aid kits for dealing with cuts, blisters and sun burns.
He told CNN Money: “Every time I’d travel for a baseball tournament in Alabama, I’d notice that kids would get hurt and parents couldn’t find a band-aid. I wanted to solve that problem and this was my idiea.”
The machines will sell prepackaged first-aid kits (costing between £4 and £11) and also individual supplies, like plasters, rubber gloves and gauze pads (for £4 to £14 pounds).
Taylor hopes to start delivering and installing the machines across amusement parks, beaches and stadiums over the summer.
Six Flags theme park has already put in an order for 100 machines. —Via web
