Cardiff spin-out Medaphor set for future growth
17 August 2016
A Cardiff University spin-out which developed a world-beating ultrasound training simulator is set for further growth after a £3m acquisition.
The company has acquired Inventive Medical Ltd, a London-based business behind the HealthWorks brand.
The acquired business, founded by cardiac anaesthesiologists at University College London Hospital and owned by University College London Hospitals Charity, has developed simulator technology used in cardiology-related ultrasound training.
MedaPhor is a spin-out from Cardiff University which has developed ScanTrainer, an ultrasound training simulator.
The acquisition is expected to provide it with a complementary suite of ultrasound training products and an expanded sales team to enable wider coverage across the US, UK and Europe.
Medaphor CEO Stuart Gall said: "We've focused on every part of the body from the pelvis up to the top of the rib cage but didn't previously have the capability for hearts.
"We have had a good relationship with HealthWorks for a number of years. It's a complimentary business in terms of speciality areas and enables us to provide as comprehensive a service as possible."
The company recently raised £3m through a share placing and expanded its North American operations with new sales team and an American Board of Obstetrics and Gynecology.
Stuart Gall added: “”We will always have an eye out for future acquisitions if they fit with our business. It's a good time to be in Cardiff and we're very positive about the company going forward."