It gives us great pleasure to welcome Oval as the inaugural member of SyndicateRoom’s Exit Club – hopefully, the first of many to come.
In August 2014, 40 SyndicateRoom investors contributed to Oval’s overall fundraise of £1,118,647, the round headed up by lead investors Jonathan Milner, Phil O’Donovan and Michael Day. Now they stand to make a positive return on their investment.
SMC Ltd. is acquiring Oval to build on its existing business in the drug delivery device market, paving the way to grow and to develop further Oval’s core auto-injector technology.
You can read some key facts.
About Oval Medical Technologies
Oval is a cutting-edge medical technology company that designs and produces small, user-friendly autoinjectors to enhance medical safety and address trypanophobia (fear of needles).
It was founded in 2009 by Matthew Young, who had a vision of designing state-of-the-art auto-injectors that would not only transform the patient experience but also meet the needs of 21st-century biologic drugs, offering a range of delivery volumes and capability to deliver high-viscosity formulations. Clearly, his dream has become a reality. Oval’s radical approach to the delivery of emergency drugs has enabled the design of an epinephrine auto-injector that is intuitive to use in a crisis and small enough to be carried discreetly in a pocket.
As part of SMC, Oval will be well placed to provide customers with devices that meet their needs and those of their patients. The combination of Oval’s design and development capability, and SMC’s capabilities in global manufacturing will ensure a high level of reliability in product performance and a fast route to market.
CEO of Oval Medical Technologies
Based in the US, SMC Ltd. is a provider of global contract manufacturing solutions regarding single-use devices for the pharmaceutical, medical and diagnostics industries. With 700,000 square feet dedicated to healthcare manufacturing, SMC provides full product services, from initial concept through to the final packaged device, including programme management, design and development, product manufacturing, clinical manufacturing, electronics integration and global supply chain management.
In the media
- Tech City News – Cambridge-based Oval Medical Technologies acquired by SMC
- Crowdfund Insider – SyndicateRoom Reports First Exit for Investors as Oval is Acquired by US based Healthcare Manufacturer
- AltFi – SyndicateRoom notches “successful exit”, but details lacking
- Private Equity Wire – SyndicateRoom sees first exit with Oval Medical acquisition
- Insider Media – Cambridge tech firm deal marks first SyndicateRoom exit
- The Tech Portal – SMC takes over Cambridge-based health-tech firm Oval Medical Technologies
- Cambridge News – Cambridge medtech firm is sold to Americans
- Mass Device – SMC Ltd. Expands Drug Delivery Capabilities with Oval Medical Technologies Acquisition
- Med Device Online – SMC Ltd. Acquires Oval Medical Technologies
- Business Weekly – Oval Medical acquired by US healthcare giant