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18th July 2007
CAT.88/2
MONICA LOOKS SET TO CHANGE THE FACE
OF FETAL MONITORING WORLDWIDE
Nottingham-based Monica Healthcare, developers of a new breed of revolutionary fetal monitoring equipment, has secured a £1m funding package to bring its products to the worldwide market.
Monica, a spin-out company from the University of Nottingham in May 2005, is led by managing director Dr Carl Barrett. In 2005 Catapult invested £250k to fund the development and testing programme and also introduced Paul Harper on board as non-executive chairman.
The financial backers in this round of funding are: Catapult Venture Managers (450k) private investor (500k) and the Lachesis Fund (50k). This brings the total investment in Monica by Catapult Funds to £700k and that of the Lachesis Fund to 250k.
“This really is an exciting company with a ‘top-notch’ management team who have delivered the development phase to time and budget and have the skills to bring the fully developed product to market,” says Jonathan Earl, Investment Manager with Catapult. “The Monica Healthcare fetal monitoring devices utilise the latest sensing and wireless technologies, offering a radical alternative to current obstetric practice.
“Until now Doppler Ultrasound technology has dominated antenatal monitoring. However, this technology, which was developed some 30 years ago, has many drawbacks including: being invasive, restricted to short term use, restricting maternal movement and requiring constant midwife supervision – normally in a hospital setting.
“The Monica solution is simple to use, intrinsically safe and suited to prolonged, flexible use; whilst reducing the burden on midwifery staff and hospital beds. It is non invasive and passive – only requiring electrodes to be attached to the mother’s abdomen, yet able to accurately monitor the heartbeat of the fetus.
Dr Carl Barratt commented: “Monica’s first product has received an enthusiastic reception from the obstetric community in Europe, the US and further afield. This investment will enable us to manufacture the device in volume, satisfy market demand and ultimately to improve the standard of obstetric care for both mother and unborn baby.”
Initially, Monica’s core technology is targeted at antenatal monitoring to fill the gap between maternal perception of fetal compromise and full in-patient fetal assessment. It will also be used in high-risk pregnancies where prospective mothers are brought into hospital for intensive monitoring over a period of days. In this way it will reduce the burden of supervision from midwifery staff and, eventually, free up hospital beds.”
In the EU and US, 100,000 babies are stillborn, or born with an avoidable disability which began during pregnancy. Add to this that 1.3 million at-risk pregnancies are monitored antenatally, of which 330,000 are hospitalized for long periods of intensive surveillance.
Comments Jonathan Earl: “The technology that Monica Healthcare is looking to ‘roll-out’ into the marketplace will commence in 2008 through a phased introduction. The Monica devices will improve pregnancy management of high risk pregnancies and, ultimately, help address the problems of still birth and premature delivery and its associated morbidity.”
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