Crucial medical supplies will soon be launched to the healthcare market after a Nottinghamshire doctor secured funding to fill a gap in the market for specialist devices.
Dr Arash Bakhtyari, who has been a practicing doctor for 25 years, founded Nottingham based Olberon Medical Innovation in 2005 after he recognised the need for specialist medical devices that would improve intravenous accessibility and help with ear and nose procedures.
Dr Arash Bakhtyari, Founder of Olberon Medical, said: “As a doctor, I found many common tasks quite challenging with the available equipment and I wanted to create solutions to solve these difficulties. I formed Olberon thirteen years ago and soon had a few investors and fellow doctors on board. Ever since, we have been working hard to develop a strong portfolio of in-house patented medical innovations.”
Olberon Medical Innovation has developed specialist medical devices including the Vacuderm™ a single-use tourniquet, which helps inflate the vein in cases where access is difficult, the Vacuderm for Kids™ to distract children and encourage them to ‘assist’ in the procedure and the Otorhinoscope™ which is a two-in-one device for examining both the ear and nose. Both products are patented, as they are extremely unique, yet still designed for everyday medical use.
Dr Arash Bakhtyari added: “We received a loan from Enterprise Loans in the early stages of product development and had a fantastic experience. We therefore knew we wanted to work with them again for our second wave of funding and they explained that the Midlands Engine Investment Fund could be the right finance option to help grow our business.
“We received a loan of £100,000 which has supported the manufacturing of the new Vacuderm™ and also allowed us to go to market. We have been able to send samples to distributors worldwide and now have 25 on board who will bring our products to the intended end user – hospitals.”
Sukhveer Chirrimar, loan fund advisor at Enterprise Loans East Midlands, said: “We are delighted to support Arash again, especially as he was one of the first businesses to receive funding through the MEIF. I think that he has a really solid business plan and his projection figures are really promising.
“The products are so niche and specialist that combined with Arash’s expert knowledge and experience we are confident that they will be incredibly successful in improving patient experience and we wish Olberon every success moving forward.”
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