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NPIF investment enables development of new medical technologies

Thursday August 9th, 2018

Liverpool-based Newtec has secured a £500,000 investment from NPIF – Maven Equity Finance which is managed by Maven Capital Partners and part of the Northern Powerhouse Investment Fund to help launch a new medical product to the market that has been designed by surgeons, for surgeons (August 9th).doctor_667678Lge

Newtec was established to develop innovative medical devices for niche markets in vascular and cardiovascular surgery. By creating products that address challenges in the cardiovascular market, Newtec has designed a suite of unique vascular products, noting complications in all other systems and aiming to eradicate them. The company has also identified further applications for their products with the potential for expanding the product range or out-licensing opportunities.

Backed by a strong set of investors, significant surgical leaders and key opinion leaders, Newtec has successfully secured over £800,000 of funding used to complete the development of other products, secure intellectual property and cover clinical costs for medical trials and studies.

Newtec was founded by Rob Arson (CEO), who has 22 years of management experience in cardiovascular medical device companies.

Within the Cardiovascular device market, Newtec’s product mix is of high commercial interest and has a market value worth billions. The business is successfully developing products in a multi-billion-dollar sector which is growing at eight per cent per annum. The growth in this market can primarily be attributed to the rapidly increasing obese population, the high prevalence of cardiovascular diseases across the globe, increase in longevity and ageing population as well as increasingly sedentary lifestyles.

Andrew Round, Investment Director at NPIF – Maven Equity Finance, said: “We are delighted to support Newtec’s innovative development of medical devices. The company is creating products that offer solutions to challenges many surgeons within the medical industry face. Backed by a dedicated and highly experienced management team with excellent contacts in the markets they are targeting, we look forward to working with the company to drive the business forward.”

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