The company has developed a robotic controller for the cameras used by keyhole surgeons. This is a vital link in the keyhole surgery process for the following reasons:
1 cameras are currently mainly held by assistants, who respond to the oral instructions given by surgeons but cannot manipulate the cameras as well, nor hold them as steady, as a robot..
2 3D imaging is an emerging technology for keyhole surgeons driven by its ability to make life easier for surgeons through providing depth of vision. Having a rock steady image is vital because of the destabilising effect on viewers (in this case surgeons) of unsteady 3D images, giving rise to the need for mechanical camera controllers enabling the provision of rock steady images. There are only two key sources in the world for keyhole surgery camera controller technology and this company is one of them.
The company has a razor/razor blade business model based on a consumable for each operation. There are currently c.4 million keyhole surgery operations pa across Europe and North America – this figure is growing because of the better patient outcomes at lower total cost delivered by keyhole vs. open surgery. The product has CE marking and FDA approval, and is generating recurring income from the sale of consumables – it also has the support of several key opinion leaders within its market.
The company is led by individuals with senior management experience within major multinational MedTech companies, following which they have demonstrated the ability to operate successfully within small companies.
The company is seeking to raise finance now which will be followed by an IPO on AIM in 2012. The purpose of the listing is to acquire complementary products which also improve the efficiency of surgeons carrying out minimally invasive surgery.