SurePulse lands £1m investment to expand its share of neonatal healthtech market
The company behind a revolutionary newborn baby heartbeat monitoring device is set to explore foreign markets and grow its product portfolio thanks to £1m secured from existing and new, private investors.
SurePulse Medical Ltd, based at Medicity in Nottingham, was established in 2014 as a joint venture between the University of Nottingham and Derby-based Tioga Ltd - combining academic strength with the expertise of one of the UK’s top electronics manufacturers.
James Carpenter, CEO of SurePulse, said, “Despite the uncertainty surrounding the coronavirus pandemic, investors continue to be upbeat about the long-term commercial potential of the business, and have reinforced this through the new investment.
“The need for innovative medical devices is more important than ever as our healthcare systems experience unprecedented pressure. This investment will help SurePulse to drive market-share gains and continue its exciting product development plans.”
The company’s first product – the award-winning SurePulse VS – is the world’s only wireless heartrate monitor specifically designed for newborn babies.
With one in 10 babies needing resuscitation or stabilisation at delivery, doctors often need to check vital signs continuously to guide optimal care in those critical first few minutes of life in a bid to reduce the risks of long-term neonatal health complications such as brain damage.
With the SurePulse VS, a baby’s heartrate is measured by a forehead sensor that sits inside a specially designed, disposable cap, which transmits pulse information back to a wireless display. The device provides simple, hands-free, accurate, and uninterrupted monitoring; enabling clinical staff to make fast, confident decisions and focus on performing procedures in time-critical situations.
SurePulse VS was awarded its CE mark in 2019 and has been trialled in NHS hospitals on over 300 newborns. Adoption of the device across the NHS (and other medical providers) presents far-reaching gains in neonatal healthcare; potentially saving the lives of new babies, heartache for their families and costs for the health service.
The optical sensor technology underpinning the hands-free heart monitor was developed in the Faculties of Engineering and Medicine at the University of Nottingham. The research teams were led by Professor Barrie Hayes-Gill and Dr Don Sharkey – both academic co-founders at SurePulse Medical.
Reacting to the latest investment news, Professor Hayes-Gill, who is also Research Director at SurePulse, said, “It is a great achievement to see a medical device that was designed and trialled by our collaborative research groups reach clinics around Europe.
“SurePulse is another spinout success story and one that aligns with the UK Government’s Industrial Strategy to commercialise research and deliver skills and jobs in STEM fields.”
SurePulse Medical Ltd is one of 23 companies borne from the University of Nottingham’s research and investment in technology transfer. The spin-out portfolio is managed by Nottingham Technology Ventures (NTV) - a subsidiary of the University - which has helped to generate many multi-million pound exits of spin-outs over the last four years. In 2018, Nottingham was ranked second among UK research institutions for the amount generated from the sale of shares, delivering more than £11.5m, and the University is regarded as among the best in the UK for sharing knowledge.
- SurePulse Medical Ltd
- SurePulse Medical Ltd