INOVUS Medical, a global surgical training company, has secured a £7million investment this week.
Inovus Medical, which has its headquarters in St Helens, received the funding to expand the company into international markets, strengthen its global customer base and increase the capacity of its development teams.
Founded by Elliot Street and Jordan Van Flute in 2012, the business manufactures and engineers state-of-the-art virtual technology to assist and improve surgical training and care.
Using 3D printing, high-tech surgical simulators and digital platforms, the company has branched into hospitals, universities, and medical settings around the world.
With a breadth of support for their products, the recent investment - which includes more than £6million from global healthcare innovators Norgine Ventures - the business are aiming to become the world's leading partner in surgical training.
Dr Elliot Street, Co-founder and CEO of Inovus Medical said, “We are extremely excited that the Norgine Ventures team have joined us on our mission of becoming the world’s partner for surgical training.
"In addition to the acceleration of our scale up activities that this funding brings, we are lucky to have the backing of Norgine Ventures and all the market insights and expertise such a partner adds.
"At every interaction with the Norgine Ventures team it has been clear they understand and support our vision for driving a paradigm shift in the way we train surgeons to improve surgical care, it promises to be an exciting partnership ahead.”
With Inovus' global headquarters based in St Helens, Metro Mayor of Liverpool Region Steve Rotheram said that their innovation and business strategy is an example of how the City Region can prosper and expand internationally.
Steve Rotheram said: “The Liverpool City Region is home to a thriving ecosystem of leading innovators and industries to rival anywhere in the world.
"We’re fortunate to be building our future on enviable foundations – but we know that there is still so much potential yet to unlock – which is why I’m on a mission to make our region the UK’s powerhouse for innovation.
“However, innovation can’t exist in a vacuum - we need the support of forward-thinking businesses with the ambition to join us on our journey.
"Inovus Medical is one of the companies that we believe shares our vision for the future of our region - which is why it was one of the first companies that we supported through our £3m Future Innovation Fund.
"It’s clear that they’re already reaping the rewards of our investment – I’m really excited to see what the future has in store for them.”
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules here