Mpathy plans US expansion with new cash
Published Date:
24 July 2008
MEDICAL device company Mpathy has scooped a six-figure funding package to help its expansion in the US market.
The Glasgow-based firm, which creates products to treat female pelvic problems, secured second-round funding from Archangel Informal Investment and Scottish Enterprise's co-investment fund.
The company launched its core product lines – Minitape and Restorelle – in May this year and plans to grow sales in the US through its Massachusetts office.
Chief executive Ian Stevens said: "The additional funding will support faster expansion in the US market.
"We believe that Mpathy Medical's mesh products redefine expectations for surgeons with simpler solutions, which offer high efficacy and low complication rates."
Mpathy was founded by Dr James Browning to develop a range of implantable mesh products for the surgical repair of female urinary stress incontinence and pelvic organ prolapse.
Chairman George Borthwick added: "We are pleased that our investors are supporting the company to penetrate this market."
The full article contains 162 words and appears in The Scotsman newspaper.
-
Last Updated:
23 July 2008 8:34 PM
-
Source:
The Scotsman
-
Location:
Edinburgh
