NeedleSmart has developed a market-leading technology that heats hypodermic needles into a molten state, prior to compressing it into a ball. The process takes just a fraction of a second to create a safe, sealed sphere of sterile metal that is no longer sharp.
The NeedleSmart product addresses two major issues for global healthcare systems; the safety of the healthcare staff and the escalating compliance cost of disposing of post procedural needles.
The NeedleSmart product is designed as a sealed chamber storing needles and syringes in a sterilised safe form and it efficiently minimizes the possibility of post procedural Needle Stick Injury (NSI)
The NeedleSmart product heats the needles inserted to an excess of 1300 degrees °C which will kill potential harmful pathogens, virus and bacteria adhering to the needle, sterilising the needle to be disposed of and melting into a safe sphere inside the product and allowing the waste to be disposed as non-hazardous rather than hazardous clinical waste with considerable cost savings.
|Product||Growth MedTech EIS|
|Aim of funding||Growth|
|HMRC Advanced Assurance received||Yes|
|Envisaged investor exit||3 years|
|Targeted return||In excess of 7 times gross investment|