Tangent Medical began commercializing its new catheter technology this summer and the company is already starting to show some traction for it.
Earlier this month the Ann Arbor-based startup won a Gold Stevie Award in the Best New Product or Service for Health & Pharmaceuticals category and a Silver Stevie Award for Tech Innovation of the Year at the The 11th Annual American Business Awards
in San Francisco. The awards came courtesy of the company’s NovaCath Integrated IV Catheter System.
"We have launched a new product that is being recognized both inside and outside of the industry as breakthrough technology," says Curtis Bloch, vice president of sales & marketing for Tangent Medical
Bloch adds that catheter technology has been largely unchanged for about half a century. Tangent Medical describes its NovaCath Integrated IV Catheter System as "combine advanced catheter stabilization, passive needle encapsulation, tubing management and blood control." The idea is to better stabilize the catheter, improve safety for healthcare workers safety and make it more comfortable for patients. Its passive needle shielding technology and closed system design is meant to minimize risk of needlestick injuries.
Tangent Medical raised $8.6 million in a Series B round of venture capital last year. That money helped provided the final push toward commercialization. The 3-year-old company received its FDA clearance in June and began marketing NovaCath Integrated IV Catheter System shortly after. To make that possible it has beefed up its staff to 23 employees thanks to seven new hires over the last year.
"We went from company formation to commercialization within four years," Bloch says.
Source: Curtis Bloch, vice president of sales & marketing for Tangent Medical
Writer: Jon Zemke
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