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24th May 2018

Notts Doctor spots gap in the market for specialist medical supplies

CRUCIAL medical supplies will soon be launched to the healthcare market after a Nottinghamshire doctor spotted a gap in the market for specialist devices and secured funding from Enterprise Loans East Midlands and the Midlands Engine Investment Fund (MEIF), supported by the European Regional Development Fund.

Dr Arash Bakhtyari, who has been a practicing doctor for 25 years, founded Nottingham based Olberon Medical Innovation in 2005 after he recognised the need for specialist medical devices that would improve intravenous accessibility and help with ear and nose procedures.

Dr Arash Bakhtyari, Founder of Olberon Medical, said:

“As a doctor, I found many common tasks quite challenging with the available equipment and I wanted to create solutions to solve these difficulties. I formed Olberon thirteen years ago and soon had a few investors and fellow doctors on board. Ever since, we have been working hard to develop a strong portfolio of in-house patented medical innovations.”

Olberon Medical Innovation has developed specialist medical devices including the Vacuderm™ a single-use tourniquet, which helps inflate the vein in cases where access is difficult, the Vacuderm for Kids™ to distract children and encourage them to ‘assist’ in the procedure and the Otorhinoscope™ which is a two-in-one device for examining both the ear and nose. Both products are patented, as they are extremely unique, yet still designed for everyday medical use.

Dr Arash Bakhtyari added:

“We received a loan from Enterprise Loans in the early stages of product development and had a fantastic experience. We therefore knew we wanted to work with them again for our second wave of funding and they explained that the Midlands Engine Investment Fund could be the right finance option to help grow our business.

“We received a loan of £100,000 which has supported the manufacturing of the new Vacuderm™ and also allowed us to go to market. We have been able to send samples to distributors worldwide and now have 25 on board who will bring our products to the intended end user – hospitals.”

Sukhveer Chirrimar, loan fund advisor at Enterprise Loans East Midlands, said:

“We are delighted to support Arash again, especially as he was one of the first businesses to receive funding through the MEIF. I think that he has a really solid business plan and his projection figures are really promising.

“The products are so niche and specialist that combined with Arash’s expert knowledge and experience we are confident that they will be incredibly successful in improving patient experience and we wish Olberon every success moving forward.”

Grant Peggie, Director, British Business Bank, said:

“The British Business Bank is committed to improving regional finance markets, especially in cases where providing extra investment can have such positive effects on local communities.

“Olberon Medical is an innovator, bringing a new product to market that will improve patient care and experience. We look forward to seeing Olberon make a positive impact on the healthcare sector.”

The Midlands Engine Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.

For more information on Enterprise Loans visit www.first-enterprise.co.uk or follow @1st_Enterprise on Twitter. For further information on the MEIF please visit www.meif.co.uk or follow @MidsEngInv.

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Are you looking to secure business finance?

For information on what investment type is suited to your firm's needs, visit the @BritishBBank’s Business Finance Guide here: https://t.co/u5u3LyQcif https://t.co/LcHCDyt0kJ
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Stay up to date with the latest #MEIF investments and fund announcements by visiting our news page here: https://t.co/8KEIg61nsB https://t.co/UyLelZ6LAM MidsEngInv photo

Are you new to the @BritishBBank’s #MEIF? For clear information on the finance available through the Fund please visit our Quick Reference Guide here: https://t.co/SDilCE6y9Q https://t.co/cjEwnvR6n9 MidsEngInv photo

The #MEIF is now on LinkedIn. Follow us for the latest investment news, fund updates and information on securing external finance.

Connect here: https://t.co/mhwkGSoAcr https://t.co/VXP3Zc0pJ0
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#MEIF Small Business Loans are available for a wide range of purposes including filling gaps in growth capital, funding new projects or purchasing equipment.

Connect with our fund managers @B_C_R_S and @1st_Enterprise and access more information here: https://t.co/FMbFV547x6 https://t.co/hnbIVDvsgI
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Follow @midsenginv

Are you looking to secure business finance?

For information on what investment type is suited to your firm's needs, visit the @BritishBBank’s Business Finance Guide here: https://t.co/u5u3LyQcif https://t.co/LcHCDyt0kJ
MidsEngInv photo

Stay up to date with the latest #MEIF investments and fund announcements by visiting our news page here: https://t.co/8KEIg61nsB https://t.co/UyLelZ6LAM MidsEngInv photo

Are you new to the @BritishBBank’s #MEIF? For clear information on the finance available through the Fund please visit our Quick Reference Guide here: https://t.co/SDilCE6y9Q https://t.co/cjEwnvR6n9 MidsEngInv photo

The #MEIF is now on LinkedIn. Follow us for the latest investment news, fund updates and information on securing external finance.

Connect here: https://t.co/mhwkGSoAcr https://t.co/VXP3Zc0pJ0
MidsEngInv photo

#MEIF Small Business Loans are available for a wide range of purposes including filling gaps in growth capital, funding new projects or purchasing equipment.

Connect with our fund managers @B_C_R_S and @1st_Enterprise and access more information here: https://t.co/FMbFV547x6 https://t.co/hnbIVDvsgI
MidsEngInv photo

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