Michelson Diagnostics singled out as high-growth company
25 January 2009
Michelson Diagnostics has been singled out as a company with high growth
potential by two leading investor organisations.
The European Tech Tour Association held its first MedTech Tour Summit
in November 2008 to bring together
Europe’s most innovative medical technology companies with
leading venture capitalists and leading industry professionals.
Michelson Diagnostics was one of just 24 start-up companies selected
from 240 candidates, by an expert panel of investors, to present at the event.
The MedTech Tour Summit attracted big name US investors, including
Medtronic, Johnson & Johnson,
Edwards Lifesciences, and Boston Scientific, as well as US venture
capitalists from firms such as
Polaris Venture Partners and Highland Capital Partners, and European
companies including Sofinnova
from France, Neomed, Endeavour Vision, and Ares Life Sciences.
Michelson Diagnostics CEO Jon Holmes commented, "I found the MedTech Tour
useful: the high standard of presenting companies at different stages of
their business development
provided insights into how I need to position Michelson Diagnostics for
an investment. I also made
contact with several interested investors and advisors, and discussions
Commenting on why investors are so interested in medical technology
companies during the current
adverse financial climate, Dr Brian Hashemi, President of the MedTech
Tour Summit, said, “Technologies
such as non-invasive surgical products that diminish the cost of surgery
and hospitalisation time will
make a significant impact on global healthcare. Another area of great
impact is new advanced
diagnostics for early detection of cancer, which will benefit millions
of patients and prevent costly cure.
The very fact that MedTech is massively addressing cost issues makes it
the fastest growing venture
capital investments area in the healthcare sector. In the US alone,
investments in MedTech and
medical instruments grew more than $1 billion in 2007 to reach over $4
Michelson Diagnostics was also recently singled out by the British
Venture Capital Association
(BVCA) at its Spin-Out Conference, in November 2008 in London.
The BVCA chose Michelson
Diagnostics as an example of a high-growth company, and asked CEO Jon
Holmes (along with two
other CEOs of high-growth companies) to present and to take part in a
panel discussion, on strategies
for transformational growth of start-up companies.
During the conference, a poll of
attendees revealed that 61% of
them believed that the healthcare sector would be the least affected by
the economic downturn,
compared to ICT, internet and clean-tech investments. The two sectors
expected to bring the most
fruitful returns for investors in young spin-outs were medical
technologies and clean technology.
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