A new company wants to help colleges bring their medical device ideas and prototypes to market.
Florida-based Medical Device Investments was created to commercialize medical devices and technology licensed from universities, hospitals and physicians, according to a press release. MDI develops, manufactures and markets the products, with the intent of selling them to major manufacturers for distribution to hospitals, surgery centers and doctors' offices worldwide.
"We wanted to create a business in which new devices are constantly being identified, developed and brought to market,'' said Chief Executive Officer Doug Martin. "Too many worthwhile products end up sitting on a shelf collecting dust.''
MDI's initial portfolio of products includes the Safe Clip, which is used with intravenous catheters to prevent blood loss, and the Brachytherapy Safe Catheter, which is used with High Dose-Rate brachytherapy to block cancer-fighting radioactive pellets from damaging healthy organs.
All of MDI's products are in various stages of development, with the Safe Clip the closest to manufacturing and distribution, most likely in the next year. Once the company reaches 12 products under concurrent development, MDI plans an initial public offering.