Health Value Creation raises €2 million for Innovative Surgical Devicesdecember 20, 2017
Health Value Creation BV, an innovative startup focusing on surgical devices for laparoscopic and bowel surgery, has raised €2 million in funding. The Series A round was led by Chemelot Ventures, assisted by co-investors Limburg Business Development Fund (LBDF) and existing shareholder Inkef Capital. The company will use the funding to obtain regulatory approval for two devices.
Located at the Brightlands Maastricht Health Campus, Health Value Creation, recently completed design and clinical research studies for its two innovative devices with very promising results. The first device is a unique diagnostic tool for preventing anastomotic leakages after bowel surgery. By predicting the quality of the anastomosis during surgery, post-operative complications may be dramatically reduced, saving lives and lowering healthcare costs. The second device is a trocar closure device for faster, safer and more secure suturing. It has proven to be effective in optimally closing trocar wounds after laparoscopic surgery and reduces the chances of wound herniation. The company intends to use the results of the clinical study to apply for market approval in Europe (CE mark) as well as the U.S. (510K).
“We are very pleased with our new investors Chemelot Ventures and LBDF, and the resources and network they have at their disposal. Thanks to its direct access to clinicians and other medical professionals, being based at the Brightlands Maastricht Health Campus, is of tremendous value in the next phase of growing Health Value Creation,” says John Marugg, CEO of Health Value Creation.
“Each year, over 1,500,000 bowel surgeries are performed in Europe and the U.S. It is estimated that up to 150,000, or one in ten patients, will suffer from an anastomotic leakage, with an 8% mortality rate (12,000 individuals annually) and €1.8 billion in additional healthcare costs globally. We aim to help prevent these complications, thus saving lives and greatly reducing the associated costs,” says Dr. A. Veenhof, founder and CSO of Health Value Creation.
“The first human trials have already been very encouraging. Further optimization and validation is expected to result in rapid market approval and acceptance”, according to Marcel Kloosterman, Director of Chemelot Ventures.
“This investment is not only beneficial for the company but also for the economic development of Limburg as it will create jobs,” says Martin Schreurs/investment manager at LBDF.