- Date 21 Nov 2011
Sphere Medical is a UK based medical device company, currently completing the development of a range of in vitro diagnostic products designed to provide significant improvements in patient management in a number of hospital specialities. Sphere’s products are expected to allow real time measurement of blood gases, various electrolytes and drug levels with laboratory accuracy, at the patient’s bedside. This information can be used in a wide range of medical applications and is intended to enable faster clinical decision-making to ultimately improve the management of patients.
Cambridge Consultants was selected to perform the technical and commercial due diligence of Sphere Medical due to its extensive experience in the design and development of diagnostic devices and systems, its knowledge of the wider medtech market, and for its track record in providing technical due diligence and consulting services. Cambridge Consultants’ multi-disciplinary team was able to thoroughly analyse Sphere Medical’s technology, from a technical and regulatory standpoint, its commercial prospects, as well as the potential risk factors.
“Cambridge Consultants’ deep understanding of our technology and the markets we are targeting was invaluable in supporting our recent work to achieve an AIM listing,” commented Dr Stuart Hendry, CEO of Sphere Medical. “The approach taken by the Cambridge Consultants team was very thorough and provided a robust and independent Expert’s Report.”
Dr Monika Green, Consulting Director of Cambridge Consultants added: “We worked closely with Sphere Medical to ensure that we fully understood the company, its technology and its business plans. Given our own track record in diagnostic technology we were very pleased to be selected by Sphere Medical to conduct this study. The result of a successful public offering is great news, not only for Sphere Medical but also as validation of the growing medtech sector in Cambridge. To get to this point in the current climate is a significant achievement.”