SageTech Medical Equipment Ltd secures £1.28m investment
led by EMV Capital Ltd
This significant investment comes from EMVC’s EIS investment practice, including support from its extensive network of private investors, and its own EIS Fund.
On behalf of EMVC investors, John Clarkson (Chairman of NetScientific PLC, EMVC’s parent company) will be joining the board of SageTech, bringing his wealth of commercial expertise to the next stage of the company’s growth.
John Clarkson commented “In line with NetScientific’s strategy of engagement and support for its portfolio companies, I’m delighted to be joining the board of this exciting growth company. SageTech is entering a new phase of scale-up and commercialisation. The company’s technology addresses a key environmental concern for the industry and affords much needed flexibility to the UK healthcare system and beyond. I look forward to providing support to SageTech and helping the company realise its significant potential”.
SageTech’s CEO, Iain Menneer, said “We welcome the investment from EMV Capital. In addition to the growth capital, we expect EMVC and John will contribute to the final stage of our hospital trials and preparation of our go-to-market plans for launch of our solution in 2021. SageTech Medical has achieved a tremendous amount in its short life and has a very bright future, supported by this fresh investment. It is very exciting to be in a position to offer improved operational capability to hospitals whilst solving a significant but little-known problem that waste anaesthetics present to the environment.”
SageTech plans to use this funding to complete pilots underway within UK hospitals, to scale up commercial operations to meet demonstrated demand for their technology platform in the UK and internationally, and to further development towards market authorisation for their recycled anaesthetic product.