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news.Mpathy Medical has raised new equity finance from Archangel Informal Investment and Scottish Enterprise's co-investment fund. The funds are being used to launch its products in the US.
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Mpathy has appointed George Borthwick, former president of Ethicon in Europe, as non-executive chairman, and Ian Stevens, formerly CFO and US general manager at Optos, as CEO.
Ian Stevens, CEO of Mpathy, said: “We believe that the company’s ultra lightweight mesh and less invasive products enable better surgical outcomes and contribute to lower complication risks for women receiving treatment for urinary stress incontinence and pelvic organ prolapse.
“The full commercial launch of the company’s products will take place in May 2008, and the initial sales results from the US, where we have established a direct sales force, have been very encouraging.”