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.
Find out more about our investments in early stage