Albert Medical Devices raises £940k from London Business Angels and Angel CoFund to launch urology products
The funding will support the full commercial rollout of the melio catheter leg bag and next-generation product development.
Share allotment filed at Companies House
Albert Medical Devices is a Liverpool-based medical technology company specialising in urology devices, notably developing the melio intelligent catheter leg bag.
Albert Medical Devices has secured £940k in a funding round led by London Business Angels and the Angel CoFund, with participation from existing backer North West Fund for Biomedical, managed by SPARK Impact. The Liverpool-based med-tech firm will direct the capital towards the full commercial launch of its flagship melio catheter leg bag in key healthcare markets, alongside the development of next-generation products.
The company previously raised a £300k seed round in April 2012, which supported the early development of the melio device. The product integrates an electronic urine level sensor and a patient warning system designed to improve care for individuals with urinary incontinence.
Chief Executive Matt Pearce noted that the company has focused on commercial and marketing expansion since the previous funding, aiming to reduce end-user costs and widen product reach.
From the founder
"Since our last funding round in 2012 the team at AMD has been investing time and money on product development, with the goal of reducing the end cost for the user. We’ve also focused on building our commercial and marketing teams. The melio bag has been incredibly well received by professionals in the urology sector and we look forward to using this funding to reach more patients and to greatly improve the lives of those with urinary incontinence."
Matt Pearce
CEO at Albert Medical Devices
Investor perspective
"We have been greatly impressed by the dedication of the team at Albert Medical Devices, not to mention the passion behind the development of the melio leg bag. The Angel CoFund is all about working with angels to get cash to the best of British businesses, helping them realise their potential and grow to the next stage – AMD fits the bill perfectly. The company has developed a potentially life changing product which offers significant enhancement to health outcomes and gives patients a better quality of life. We look forward to supporting Matt and his team as they continue to develop their range of world-class med-tech products."
Tim Mills
Investment Director, Angel CoFund
Use of funds
- 01Continue product development
- 02Accelerate go-to-market
Investors
Categories
About the company
Albert Medical Devices
Albert Medical Devices develops intelligent urology products including the melio catheter leg bag.