SageTech secures £1.28m in a pre-series A round led by EMV Capital to commercialise its anaesthetic gas recycling technology platform
1st December 2020
Level39 member, EMV Capital led a £1.28m pre-series A round in Devon-based anaesthetic gas capture and recycling technology platform company, SageTech Medical Equipment Ltd (SageTech), investing alongside existing investors.
SageTech has developed a waste management solution in human and veterinary healthcare using patented technology to capture used anaesthetic gas, to provide greater flexibility for hospitals and to reduce harmful greenhouse gas emissions. SageTech’s offering can help to increase hospital ICU and operating theatre capacity, by installing SageTech’s flexible, low-capex and modular system, to allow the delivery of anaesthetic gas to more patients.
EMV Capital’s investment comes from its EIS investment practice, including support from its extensive network of private investors, and the EMVC EIS Fund.
On behalf of EMVC investors, John Clarkson (Chairman of NetScientific PLC, EMV Capital’s parent company) will be joining the board of SageTech, bringing his wealth of commercial expertise to the next stage of the company’s growth.
John Clarkson commented, “In line with NetScientific’s strategy of engagement and support for its portfolio companies, I’m delighted to be joining the board of this exciting growth company. SageTech is entering a new phase of scale-up and commercialisation. The company’s technology addresses a key environmental concern for the industry and affords much needed flexibility to the UK healthcare system and beyond. I look forward to providing support to SageTech and helping the company realise its significant potential”.
SageTech CEO, Iain Menneer, said of the investment “We welcome the investment from EMV Capital. In addition to the growth capital, we expect EMVC and John will contribute to the final stage of our hospital trials and preparation of our go-to-market plans for launch of our solution in 2021. SageTech Medical has achieved a tremendous amount in its short life and has a very bright future, supported by this fresh investment. It is very exciting to be in a position to offer improved operational capability to hospitals whilst solving a significant but little-known problem that waste anaesthetics present to the environment.”
SageTech plans to use this funding to complete pilots underway within UK hospitals, to scale up commercial operations to meet demonstrated demand for their technology platform in the UK and internationally, and to further development towards market authorisation for their recycled anaesthetic product.
About SageTech Medical Equipment
SageTech Medical Equipment Ltd specialises in the development and commercialisation of patented technology to reduce the environmental and financial costs associated with anaesthesia. The technology is internationally scalable and provides significant flexibility and scalable advantages to healthcare. SageTech’s solution offers large financial savings on hospital infrastructure installations and maintenance costs in time eliminating the need for expensive air extraction systems to take the exhaled drugs from the operating theatres to the chimney.
SageTech Medical has attracted interest and enquiries from clinicians in the UK, Europe, America, Australia and Scandinavia, all driven to reduce environmental damage, increase efficiency and reduce costs.
About EMV Capital
EMV Capital Ltd (EMVC), a wholly-owned subsidiary of NetScientific PLC, is a London-based investment services company focused on B2B companies in industrial high-tech, energy and healthcare. EMVC’s multidisciplinary team has expertise in venture investment, corporate development, corporate finance and M&A. EMVC understands the importance and value of environmental sustainability and ethical investment principles, reflecting this within its investment thesis.
EMV Capital has a growing EIS investment practice, and is an exclusive advisor to the EMVC Evergreen EIS Fund (http://emvcapital.com/eis_fund/)
EMV Capital Limited is an appointed representative of Sapphire Capital Limited, which is authorised and regulated by the Financial Conduct Authority.