An East Midlands-based medical devices company has secured £500,000 in a fundraising round led by a newly formed fund focused on the region.

An East Midlands-based medical devices company has secured £500,000 in a fundraising round led by a newly formed fund focused on the region.

BPR Medical raised the money from Turning Point Investments, which was formed to invest in growing businesses based in the East Midlands, and the East Midlands Early Growth Fund (EMEGF), which is backed by the relevant regional development agency.

It is the first sizeable transaction completed by Turning Point following its formation, and the largest single investment to date by EMEGF.

BPR, which manufactures oxygen therapy and medical gas control products for use in hospitals and homes, will use the money to ‘develop much more quickly in the coming years’, according to managing director Richard Radford.

The company was introduced to Turning Point by law firm Berryman, which also advised on the establishment of the Turning Point Investments fund.