Distribution Agreement with global hospital equipment leader Dräger; Sale to Manchester University NHS Foundation; and Med-Tech Innovation Sustainability Award
EMV Capital (“EMVC”), the VC investor specialising in early-stage high-growth deep tech companies, is delighted to provide this update on its portfolio company, SageTech Medical (“SageTech”). EMV Capital is a wholly owned subsidiary of NetScientific plc (AIM:NSCI), a deep tech and life sciences VC investment group.
SageTech is a medical device and hospital equipment company focused on the capture and recycling of environmentally polluting anaesthetic gasses from the human and veterinary healthcare sectors. Through its technology platform the company aims to prevent the release of an estimated 3.4 million tonnes of CO2 equivalents globally each year from the release of waste anaesthetic gases.
During June 2023 SageTech has achieved several significant commercial milestones.
Distribution agreement with Dräger UK
SageTech has announced a distribution agreement with Dräger UK, part of the leading global hospital equipment group Dräger with €3bn in annual sales. This distribution agreement paves the way for Dräger UK’s NHS Supply Chain customers to purchase SageTech’s leading anaesthetic gas capture machine, while potentially also opening international markets to SageTech. SageTech launched the SID-Dock waste anaesthetic gas capture machine in January 2023, which is a UKCA Marked, Class 1 Medical Device for the safe and sustainable capture of volatile anaesthetic gases, addressing the unmet need to prevent 2% of NHS carbon emissions each year.
Manchester NHS Trust purchase
Manchester University NHS Foundation Trust, one of the largest NHS Trusts in the UK, have purchased SageTech’s waste anaesthetic gas capture technology. SageTech anticipates further sales to other NHS Trusts, building on this validation.
Med-Tech Innovation Sustainability Award
SageTech Medical, in partnership with Hymid, has won the Med-Tech Innovation Sustainability Award for its waste volatile anaesthetic agent capture and recycling technology. Hymid is one of the UK’s leading providers of multi-shot injection moulding services, and this award strongly reflects the potential of the revolutionary, eco-conscious, and environmentally friendly solution created by SageTech, in collaboration with the design and manufacturing excellence of Hymid.
Dr Iain Menneer, CEO of SageTech Medical, commented:
“We are thrilled with these recent milestones of our business. Our agreement with Dräger makes it easier for our mutual NHS customers to gain access to our innovative gas capture technology and accelerates our mission to help healthcare providers prevent the significant pollution caused from the use of vital anaesthetic gases.
“The development partnership between us and Hymid is going from strength to strength, and we are delighted with the award recognising the hard work we are completing jointly. Following a comprehensive design and trialling phase with Hymid, our recent award win will help to boost our product’s impact and establish the SID Solution as a market leader going forward.“
Dr Ilian Iliev, Managing Director of EMV Capital, added:
“We are delighted with SageTech’s commercial and other successes. The commercial sale to the Manchester University NHS Foundation Trust opens up the route to other commercial sales within the UK hospitals market, and provides a stepping stone for internationalisation.
“SageTech fits within EMV Capital’s philosophy that commercially successful technology solutions designed around customer needs – often in neglected sectors – are a key component in addressing sustainability challenges.”
About EMV Capital
EMV Capital is an award-winning VC investor specialising in early stage high-growth deep tech companies in the life science, sustainability, and industrials sectors in the UK and internationally.
EMV Capital develops unique investment strategies for each portfolio company, drawing on its EIS fund and extensive network of private investors, family offices, institutions, and corporate VCs. Delivery and successful execution of these investment strategies enables innovative portfolio companies to raise funding to drive transformational growth.
EMV Capital is a wholly owned subsidiary of NetScientific plc (AIM:NSCI), an AIM-listed VC investment group with a focus on deep tech and life sciences.
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About SageTech Medical
SageTech Medical Equipment Ltd was started in 2015 to develop innovative solutions to environmental problems, initially in human and veterinary healthcare. SageTech Medical launched its solution in January 2023 to prevent the release of millions of tonnes of CO2 equivalents of waste anaesthetic into the atmosphere each year from hospitals around the world.