Sky Medical Technology Wins the BioNow Investment Deal of the Year Award
December 9, 2015
In 2015 Sky Medical Technology completed a £3m equity investment from a Japanese >$1bn Multinational with operational capabilities in strategically significant markets for Sky Medical such as Japan, Malaysia and the USA. The investment is a £3m cash purchase of ordinary shares in Sky Medical Technology.
This is a high value strategic investment for both companies. The Japanese company are a global leader in specialised functional printing of metals on to plastic – an important part of the manufacturing process of Sky Medical Technologies innovative gekoTM and fireflyTM products.
The Japanese company are looking to increase its involvement in companies that it feels have the potential to become an important part of the global healthcare market, that have secure intellectual property protection and innovative disruptive products.
The companies, who were introduced to each other by UKTi, have also agreed terms for a sales distribution agreement for the Japanese company to market Sky Medical products in Japan for elite and consumer sports, aviation and consumer healthcare applications.
Sky Medical Technology Ltd is a highly innovative UK based medical devices company that has developed a ground-breaking neuromuscular electrostimulation technology platform, OnPulse®. The company develops a range of products tailored to the needs of different medical application areas selling both direct and through strategic partnerships or distributors in each major clinical area. Clinical areas of interest include DVT prevention, reduction of oedema, wound healing, elite sport recovery, and continence. The goal in each clinical area is to improve clinical outcomes and patient care whilst saving health system resources.
The geko™ device has secured National Institute of Clinical Excellence (NICE) guidance recommending its use to the NHS for DVT prevention and has US FDA clearance for USA market entry.
Sky Medical are now supplying medical and elite sport products in Canada, USA, China, Australia and New Zealand as well as the UK. It is felt by both companies that Japan is a natural first market for consumer healthcare focused products using Sky Medicals OnPulseTM circulation enhancement technology.