Cardiff University spin-out MedaPhor’s milestone US agreement
27 April 2016
An innovative ultrasound training simulator created at Cardiff University is to be used by the American Board of Obstetrics and Gynecology (ABOG) in all its examinations.
The agreement means the ScanTrainer – developed by University spin-out company MedaPhor Group plc - could be used as a practical ultrasound skills examination tool in over 2,000 obstetrics and gynaecology (OBGYN) certification exams carried out across the United States each year.
The three-year agreement led MedaPhor to raise £3.2m through a share issue on the London Stock Exchange Alternative Investment Market.
With over 200 hospitals in the US running OBGYN residency programmes, MedaPhor’s directors believe these high profile hospitals will be key targets for the ScanTrainer simulator systems over the next three years.
Stuart Gall, CEO of Medaphor, said: “We are delighted by the strong level of support from new and existing investors. This fundraising represents an important milestone in the development of the Group as we look to drive sales of our leading ScanTrainer product around the world. The proceeds of the fundraising will allow us to take advantage of the exciting product growth opportunities available to us, particularly as a result of the ABOG agreement.”
Andrew Satin, MD, ABOG Vice-President, said: “The ABOG selected MedaPhor because of the superb realism of the ScanTrainer system in simulating the ultrasound scanning experience, combined with the company's commitment to cutting edge simulation technology.”
MedaPhor's ScanTrainer is a virtual reality based 'real feel' ultrasound training simulator. It enables trainees, of any level, to literally feel what they see on the computer screen in order to learn all key ultrasound scanning skills.
The simulator uses real patient scans, within an educationally driven training programme, to teach the core and advanced ultrasound scanning skills without the need for an ultrasound machine or a patient.
MedaPhor Group plc – which floated on the UK’s AIM in 2014 - is an established University spin-out company, formulated by a team of clinicians and computer scientists, whose aim was to build a world-class ultrasound training company with education excellence at its core.