Duo invest in Intelligent Orthopaedics
Birmingham-based investors Catapult Venture Managers and Mercia Fund Management have injected £600,000 into a Staffordshire company. Intelligent Orthopaedics manufactures products to repair broken bones.
Mercia Fund, which has already invested in the company, has provided £250,000 towards the company in the latest funding round. The Advantage Enterprise and Innovation Fund, managed by Catapult, has invested £350,000.
Intelligent Orthopaedics (IO) specialises in the design, manufacture and distribution of orthopaedic trauma devices. Its core product ‘STORM’ (Staffordshire orthopaedic reduction machine) is a reusable device that is used to realign fractures of the tibia prior to being fixed surgically.
Mark Payton, principal of the Mercia Fund, said: “IO’s founders and management have produced a suite of proprietary products positioned on the market on a global basis. IO typifies a Mercia Fund portfolio company; a scaleable product base derived from world-leading expertise with a global opportunity. This investment will accelerate IO’s product roll out and provide the capital to now put IO on the map.”
