A Scottish medical device business has gained £280,000 of new investment from existing shareholders in an oversubscribed funding round.
Originally designed by former NHS Ayrshire and Arran vascular surgeon Dr Murali Subramaniam, the OpLight enhances lighting during surgical procedures and removes shadowing that may come from traditional overhead lighting systems, headlamps or fibre optic systems.
The medical tech is currently in Japan, China, Saudi Arabia, Brazil, and EU countries including Italy, Czech Republic, and the Nordic countries, with hopes of expanding even further in the future.
The funding round was led by the investment syndicate Kelvin Capital and with Scottish Health Innovations and Scottish Investment Bank participation.
Clear Surgical works collaboratively with surgeons to develop innovations that arise from issues highlighted by healthcare professionals.
Chairman of the Board at Clear Surgical, Michelle Ward, commented: “This is an incredibly exciting time for the business. Securing important new funding from oversubscribed funding round and agreeing on a development relationship with the new Medical Device Manufacturing Centre at Heriot-Watt University gives a clear pathway to building the business domestically and internationally.
“By working directly with frontline surgeons and turning their ideas into reality we create solutions that have real and immediate benefits. Our products are not speculative because they come directly from the very people who want them and who will use them.”
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Clear Surgical recently became the first client of the new £3.7m Medical Device Manufacturing Centre (MDMC) based in the School of Engineering and Physical Sciences at Heriot-Watt’s Edinburgh campus.
Future Oplight products include a disposable surgical UV light to identify and treat bacteria during an operation to minimise or eliminate the risk of post-operative infection and another that uses near-infrared light to highlight and excite malignant cells to guide surgeons during their removal.
Angus Hay, Director of Kelvin Capital said: “Novel solutions to problems very often come from those who face those challenges every day and in the case of Clear Surgical and its portfolio of medical devices that is exactly true.
“The OpLight solves a major issue for surgeons, especially in countries where power supply is a problem, and it is applicable and complementary to an extensive range of procedures and existing devices. Collaborating with front line surgeons and creating solutions to improve patient care is at the heart of this innovative business.”