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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.

Follow @midsenginv


The #MEIF Quick Reference Guide breaks down the different types of finance available through the Fund and the types of businesses best suited to each. Download it here - https://t.co/RngOaJw0eV https://t.co/EvAftZBCy7 MidsEngInv photo

The @BritishBBank has today released its Small Business Finance Markets Report 2020. Key findings include #MEIF supporting 20% of equity deals in the #Midlands, helping the region's businesses unlock new growth. Read #SBFM2020 here - https://t.co/W32Uh2aPWG https://t.co/MLDHvnredp MidsEngInv photo

20% of equity deals in the Midlands supported by the #MEIF - revealed in the @BritishBBank's #SBFM2020 Report released today - https://t.co/W32Uh2aPWG https://t.co/bCrbzCeChd
MidsEngInv photo
British Business Bank @BritishBBank
Our regional funds, @MidsEngInv and @NPIFBBB, have contributed 20% and 16% respectively to equity deal numbers in the North & Midlands #SBFM2020 #LevelUp

Download the full report now
👉 https://t.co/pSuiMCJXle https://t.co/VzV0nikT14

Growth Hubs are centres for business support, connecting firms to the right help for their needs. With 10 located across the Midlands, find your nearest here - https://t.co/47oT5NP7xK https://t.co/gW78zLZ8Ym MidsEngInv photo

Supporting innovation is a key priority for the #MEIF, with the Fund investing £150k in Birmingham-based @aceleronenergy – a firm developing cutting edge battery technology. In the video below, CEO Amrit Chandan explains how the funding supported the firm’s #Growth https://t.co/im8hET5eGZ

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Follow @midsenginv


The #MEIF Quick Reference Guide breaks down the different types of finance available through the Fund and the types of businesses best suited to each. Download it here - https://t.co/RngOaJw0eV https://t.co/EvAftZBCy7 MidsEngInv photo

The @BritishBBank has today released its Small Business Finance Markets Report 2020. Key findings include #MEIF supporting 20% of equity deals in the #Midlands, helping the region's businesses unlock new growth. Read #SBFM2020 here - https://t.co/W32Uh2aPWG https://t.co/MLDHvnredp MidsEngInv photo

20% of equity deals in the Midlands supported by the #MEIF - revealed in the @BritishBBank's #SBFM2020 Report released today - https://t.co/W32Uh2aPWG https://t.co/bCrbzCeChd
MidsEngInv photo
British Business Bank @BritishBBank
Our regional funds, @MidsEngInv and @NPIFBBB, have contributed 20% and 16% respectively to equity deal numbers in the North & Midlands #SBFM2020 #LevelUp

Download the full report now
👉 https://t.co/pSuiMCJXle https://t.co/VzV0nikT14

Growth Hubs are centres for business support, connecting firms to the right help for their needs. With 10 located across the Midlands, find your nearest here - https://t.co/47oT5NP7xK https://t.co/gW78zLZ8Ym MidsEngInv photo

Supporting innovation is a key priority for the #MEIF, with the Fund investing £150k in Birmingham-based @aceleronenergy – a firm developing cutting edge battery technology. In the video below, CEO Amrit Chandan explains how the funding supported the firm’s #Growth https://t.co/im8hET5eGZ

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