14 August 2012
The North West Fund for Biomedical have awarded £550,000 to a Cheshire based medical device company, which have pioneered a treatment for heart conditions.
Dot Medical, the developers of a piece of equipment to treat atrial fibrillation, are set to expand with the recent investment from the Biomedical fund.
The condition, which causes an irregular and abnormally fast heart rate, affects 1.5 million people in this country alone.
Through the funding received, Dot Medical will be able to expand the number of centres treating the condition, and allow them to begin plans for international expansion.
The North West Fund for Biomedical, a sub fund of the North West Fund, is a £184.8 million investment, established to provide debt ad equity funding to small and medium sized enterprises across the region.
Providing debt and equity finance from £50,000 to £2 million, the fund has awarded twenty investments to date.
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