Zimed set for expansion after £5m management buy-out:
This article was originally published in Clinica
Welsh medical device company Zimed is targeting expansion in the UK and international healthcare markets after a £5m ($10.2m) management buy-out (MBO). The Denbighshire, North Wales-based firm has acquired the intellectual property and commercial arrangements for the AD syringe driver and Red Eye intravenous monitor from its former parent company Zi Medical. Neither of the products are ready for market yet, but the company has signed an exclusive UK distribution agreement with the clinical technologies and services subsidiary of Cardinal Health. The company also acquired the research and development team associated to the technology. Zimed's management team of Steve Stocks, Raj Uppal and founder George Gallagher led the MBO.