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21st July 2009
CAT.203
BEM
MONICA HEALTHCARE LEADS THE WAY
Monica Healthcare, the Nottingham-based developers of a new breed of revolutionary fetal monitoring equipment, are one of the East Midland region’s ‘start-up’ success stories.
A ‘spin-out’ from the University of Nottingham in May 2005 - led by Managing Director Dr. Carl Barrett – the company received a further £1.1m in April this year with PUK Ventures injecting £750k, Catapult Venture Managers £300k, University of Nottingham £100k and private investors contributing the remainder.
Jonathan Earl, Investment Director with Catapult Venture Managers, commented: “The funding is to support the ongoing growth of the company which is continuing to work on new applications for the device and work towards getting regulatory approval in the US and expansion into key markets. Our cumulative investment into the company is £1m.
“In addition, to our financial commitment we also introduced Paul Harper to the business as non-executive chairman.”
Dr. Carl Barrett commented: “The potential for Monica’s technology is very exciting and the latest round of funding will help support further expansion into key markets.”
The Monica Healthcare fetal monitoring devices look very much like an MP3 player and utilise the latest sensing and wireless technologies, offering a radical alternative to current obstetric practice - it allows the mother to move around as normal.
Until now Doppler Ultrasound technology has dominated antenatal monitoring. However, this technology, which was developed some 30 years ago, has many recognised drawbacks including: being invasive, being restricted to short term use, restricting maternal movement and requiring constant midwife supervision – normally in a hospital setting.
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For further information please contact either Jonathan Earl at Catapult Venture Managers on 0116 238 8200 or Paul Shrimpton at PSPR Ltd on 0121 354 7311.
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