Innovative med-tech start-up Garland aims to disrupt the current surgical treatment options for hip osteoarthritis in younger, active patients with the novel MaltaHip.
Worcester, 6th October 2023 – In a significant development for the healthcare industry, Garland Surgical Ltd, a pioneering medical device start-up, has successfully raised a substantial pre-seed round of funding that closed during this summer. The achievement underscores not only the company’s potential but also the growing interest in innovative healthcare solutions.
Garland has garnered €520K in pre-seed funding from a consortium of investors, including Stepping Stone (a fund managed by healthtech venture builder NLC), Malta University Investment Portfolio Ltd and additional investment from the inventing team and CEO. This infusion of capital has kick started the additional product development that is required to commercialise the MaltaHip, alongside the Innovate UK Smart research grant that commenced in July this year. It will also go towards laying the foundation stones for further development projects which will be funded by our upcoming seed round.
Garland Surgical are developing an award-winning, novel hip replacement invented by a research team from the University of Malta. Testing done in an accredited European facility showed that the MaltaHip demonstrates dramatically less wear than commercially available prosthesis, offering the potential of over 50 years longevity. Younger, active patients who otherwise would need multiple surgeries in their lifetime can now have a hip for life.
Simon Mifsud, CEO, expressed his gratitude for the support received from investors. He commented,
The successful pre-seed raise is not only a testament to Garland Surgical’s vision and potential, but also a reflection of the broader trend of increasing interest and investment in healthcare startups. As the healthcare industry continues to evolve, innovative companies like Garland are well-positioned to address critical challenges and drive positive change.
Garland Surgical’s journey is one to watch closely as they work diligently to bring the MaltaHip to market.
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