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31 July 2012

£550,000 investment from The North West Fund for Biomedical for treatment of heart condition

Press Release 31st July 2012

A company which has manufactured a piece of equipment to treat a heart condition
affecting 1.5m people in the UK has secured £550,000 investment from The
North West Fund for Biomedical
, managed by SPARK Impact.

The funding for Macclesfield-based Dot Medical Ltd means the company will be able to expand the number of centres treating Atrial Fibrillation (AF), a heart condition that causes an irregular and often abnormally-fast heart rate.

The North West Fund for Biomedical is a sub-fund of The North West Fund, a
substantial pot of money jointly financed by the European Regional
Development Fund and the European Investment Bank and available to support
small and medium sized businesses in the North West of England to start,
develop and  grow.

AF can be treated in hospital with an internal heart-shocking procedure called 'internal cardioversion'. The process involves threading a catheter into a vein in the leg and pushing it to the correct position in the heart where an electric shock is given which restores the natural heart rhythm.

Dot Medical already supplies the NHS with its 'Alert Internal Cardioversion System' which includes the 'Alert' catheter. The funding from SPARK Impact will be used to develop and manufacture equipment for delivering energy to the 'Alert' catheter. 

This will enable the procedure to be more widely available in the UK and abroad.

Ian Rankin, managing director for Dot Medical, said the funding will allow more centres to carry out internal cardioversions, from the current 50 to more than 200 specialised centres. 

Dr Rankin added: "From a business perspective it will mean that Dot Medical will be able to expand globally from its current European base to China and India and
ultimately the USA."

Dr Penny Attridge, senior investment director at SPARK Impact, which manages The
North West Fund for Biomedical, said:"Of the 1.5m people affected by AF, only 18 per cent receive any treatment for their condition. It's worrying as having AF can increase the risk of suffering a stroke by nearly 500 per cent.

"This is why it's so important to invest in a business that is doing so much to help people with such a common medical affliction."

Earlier this year, SPARK Impact invested £50,000 into Rapid Rhythm Ltd, a hand-held device that uses Electro Cardio Graph (ECG) data to diagnose AF.

Dot Medical Ltd is The North West Fund for Biomedical's 20th investment to date.

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