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03/08/2012

MedaPhor raises £1m equity investment

Cardiff based company, MedaPhor raised £1.06m to boost US sales and accelerate the development of a new ultrasound training simulator, ScanTrainer.

Finance Wales invested £300,000 in the medical equipment company, increasing its total investment to more than £700,000.

Fusion IP, the university commercialisation company, also invested £450,000 of new money in this round.

Paul Lee, deputy fund manager in early stage investments at Finance Wales said: "Finance Wales has backed MedaPhor since its first institutional round and we're pleased to continue our support in this round.

"MedaPhor's ScanTrainer has been well received in its target markets and its latest plans for expansion in Europe and the US, coupled with its plans to add to the product range, are a major step forward for the company."

MedaPhor chief executive Stuart Gall added: "This is an exciting time for MedaPhor. This funding will enable us to develop our US sales base, where we are seeing considerable interest in our revolutionary simulator, as well as complete the development of our new general medical simulator, which is scheduled for launch in the first half of 2013.”

MedaPhor is a joint venture between interactive media specialists, medical educationalists and Cardiff University.

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