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Arthurian partners with Interred Medical

Arthurian Life Sciences, the fund management company led byProfessor Sir Chris Evans, has formed a partnership with US medtech firm Interrad Medical Inc.

The Minneapolis-based company is the developer and manufacturer of the unique SecurAcath®, the world’s most effective device for securing catheters in hospital patients.

 
The partnership is the sixth investment of The Wales Life Sciences Investment Fund, managed by Arthurian which was specifically formed to act as General Partner of the fund.
 
The fund has made a GBP3 million investment in Interrad Medical Inc, acting as cornerstone investor in a financing through which the company will establish its European headquarters at the Life Sciences Hub Wales in Cardiff, as a base for sales, marketing, distribution and training.
 
SecurAcath is a unique, competition-beating device that in multiple tests has proven to provide significant advantages and cost savings over current securement methods, decreasing time to secure, maintain and remove catheters and essentially removing dislodgement risk. This results in greater patient comfort, saving in nursing time and eliminating the potential for costly needle stick injuries. It is already in use in almost 300 hospitals globally, including Cardiff’s Velindre hospital which reported the overwhelming benefit of the device in prevention of migration.
 
Interrad will co-ordinate sales and training in 9 European countries initially. Arthurian will assist the company in this expansion, and ultimately into MENA and the Far East. Future plans for Wales include manufacturing, packaging and distribution of SecurAcath, in addition to the development of new products on the platform.
 
Evans, says: “The investment in Interrad demonstrates the global reach of my team at Arthurian and the very meaningful impact the Wales Life Sciences Fund can make to the sector in Wales by bringing in the very best of US medical technology, know-how and practices. Advances in medical science and biotech are a global industry affecting everyone in the world, and I am very pleased to be placing Wales at the forefront of that industry”.
 
Interrad Medical Inc, CEO Joe Goldberger says: “We are very pleased with this latest investment round, to establish a European headquarters in Cardiff. We look forward to working with Arthurian and the Life Sciences Hub Wales on expanding and growing global sales of the revolutionary SecurAcath device.”
 
 

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