Press Release – updated: Oct 9, 2018
SURAT, India, October 9, 2018 (Newswire.com) – Concept Medical Inc. Raises $60mn For Investigational Accessory Exemption (IDE) For The World’s Aboriginal Sirolimus-Coated Balloon.
Concept Medical Inc. (CMI) has approached the FDA for an Investigational Accessory Exemption (IDE) for their Sirolimus-Coated Airship (DCB). To abutment this process, they accept aloft $60mn (for an bearding valuation) from cardiologist and consecutive administrator Dr. Kiran Patel (Tampa, Florida). An IDE allows the investigational accessory to be acclimated in a analytic abstraction to aggregate assurance and capability data.
The funds will additionally be activated to augment analytic abstracts and analytic registries to authorize for agreement in the European markets, area the Company has commercially launched the product.
CMI, headquartered in Florida, has a accomplishment accessory in India, by the name, Envision Scientific Pvt. Ltd. (ESPL), area all their articles are made. A allocation of the funds will additionally be activated to ster the accomplishment operations to accommodated the accretion appeal for their articles globally. Their all-around administration and business arrangement are operated from offices in India, Singapore, Netherlands and Brazil. ESPL additionally has an India-focused, business and administration business.
The Companies (CMI and ESPL), which were accustomed about 10 years ago, accept developed avant-garde and confusing belvedere technologies in drug-delivery systems to abode the unmet medical needs in interventional cardiology. They accept 96 patents accepted (another 40 beneath process) about the apple in above markets like USA, China, Japan, Europe, India, Australia and others.
They have, since, auspiciously commercialized globally, their aboriginal product, “Abluminus-DES coronary stent”, appliance their proprietary biologic commitment and blanket systems. “MagicTouch-DEB” (sirolimus-coated airship with appliance in coronary and borderline avenue disease), is commercially awash in abounding European countries including the UK and added countries like South Africa, Mexico, Malaysia, Indonesia, Singapore, MENA region.
Extended applications of “MagicTouch-DEB” in Renal transplant, Erectile dysfunction, and AVF/AVG for Renal dialysis patients are beneath on-going analytic trials.
CMI aloft the funds from the ancestors appointment of ‘Dr. Kiran and Pallavi Patel’. With the beginning beverage of funds, both CMI and ESPL aim to ster their operations in the absolute and new markets.
Manish Doshi, Founder & Managing Director of the Company says, “We appetite to accomplish a apple of aberration to the way medical accessories companies accomplish globally. We are a adolescent alignment and addition runs in the body of our absolute organization. This advance enables us in advancing our addition platforms vigorously. Besides the investment, Dr. K brings a austere value-add with his all-inclusive acquaintance which is synergistic.”
Dr. Kiran Patel, a allegiant adherent of avant-garde and confusing medical technologies, says, “Cardiovascular diseases (CVDs) are the cardinal 1 account of afterlife globally, apery 31% of all all-around afterlife and it is accretion due to changes in affairs and access in hypertension amidst the adolescent and old. I am aflame to be a allotment of CMI whose analysis & avant-garde technologies will accommodated a above unmet charge in patients with diabetes and cardiovascular diseases. This adventure enables me to accord to the millions of hearts assault about the world.”
ABOUT DR. KIRAN PATEL:
A Board-Certified cardiologist, Dr. Patel completed his address in Internal Medicine in New Jersey afterwards accepting a Medical amount from Gujarat University in India and internship in Africa. Dr. Patel advised beneath the British Educational System in Zambia and accustomed a Diploma from Cambridge University in the United Kingdom. In 1982, he completed his acquaintance in Cardiology from a Columbia University-affiliated program.
Dr. Patel after entered the managed affliction industry and was the Chairman of WellCare of Florida till 2002. While at WellCare, he additionally helped in axis about a disturbing HMO in New York and amalgamation it with the Florida HMO to anatomy WellCare Management Group (WMG). Eventually, WMG grew to 400,000 members, with over $1 billion in revenues.
Later, Dr. Patel focused on healthcare informatics, and was a Member of Advisory Board of BelHealth Advance Partners, LLC. He was, until recently, the Chairman and President of Freedom Health, Inc. and Optimum Healthcare Inc. The companies recorded $1.7 billion in revenues beneath his leadership.
Dr. Patel is the Founder and Chairman of the ‘Drs. Kiran and Pallavi Patel Ancestors Foundation’, able-bodied accepted for their alms efforts, globally.
ABOUT CONCEPT MEDICAL & ENVISION SCIENTIFIC:
Established in 2008, Concept Medical pursues addition in medical accessories with an accent on biologic commitment belvedere technologies with able accent on bookish property. Envision Scientific Pvt. Ltd., a accessory of Concept Medical, provides the accomplishment belvedere for the articles of the Companies.
Media Contact:Farhana SiddiquePhone: 91 90-99-916091Email: [email protected]
Source: Concept Medical
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