Armstrong extracts £1m

Armstrong Healthcare, the developer of precision robots for neurosurgical, cardio-thoracic and laparoscopic procedures, has completed a £1 million top-up fundraising to support clinical trials of its three main products.

The Buckinghamshire-based company’s latest cash call drew support from a diverse range of organisations, with business angel club the Oxford Investment Opportunity Network (OION) and Norwegian venture capitalist Hoegh Capital among those investing. Also supporting the funding round was venture capital trust (VCT) operator Oxford Technology, which first backed the business in July 1998. It has now provided around £1 million through three of its four VCTs.

Armstrong will use the money to advance development of its robots. Surgeons are increasingly striving to make operations as minimally invasive as possible and precision robotics is expected to play a key role in this process. ‘Our robots bring significant benefits for both surgeons and patients,’ says chairman Kevin D’Silva. ‘Surgeons can perform less invasive techniques and achieve more precise targeting, while patients face less scarring and enjoy much faster recovery times.’

The company’s robots have already been used to hold cameras steady throughout coronary bypass procedures and to make small incisions during other types of surgery. Hopes for the future, however, are even grander. ‘Providing surgeons with greatly improved precision and full traceability enables operations that have not yet been attempted because surgeons were not confident of the levels of accuracy,’ D’Silva concludes.

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Leslie Copeland

Leslie Copeland

Leslie was made Editor for Growth Company Investor magazine in 2000, then headed up the launch of Business XL magazine, and then became Editorial Director in 2007 for the online and print publication portfolio...

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