A medical emergencies kit designed for dentists by a university team has just received a cash injection from local investors.
Dentistry equipment business, ResusPod is a spin-out from the University of Leeds and has just launched its products to market after receiving investment from business angels.
Following a presentation at a Yorkshire Association of Business Angels (YABA) event in September 2010, ResusPod was offered investment by Paul Smith and Tim Ward.
The company’s products provide dentists with medicines, equipment and training to manage medical emergencies.
Business angel, Paul Smith, says that he and co-investor Tim Ward believe ResusPod has the potential to make a huge impact in the dentistry sector.
Along with finance, the pair is providing hands-on advice and assistance.
He says: ‘The product has massive potential. Tim and I both have experience of compliance-orientated markets and we felt we could help this business both in terms of investment, but also with our knowledge.’
ResusPod was founded by Kathryn Taylor and Julie Burke who are dentists, oral surgeons and academics at Leeds Dental Institute.
The company’s business manager, Mal Jarmolowicz, says: ‘We’ve spent a number of months setting up a commercial deal with a specialist manufacturer and the time is right to launch the product.
‘We’re particularly keen to launch now because regulations which come into force in April this year make it mandatory for dental care professionals to have emergency medical training and equipment in place.’
‘Tim and Paul really understand the compliance issues that we – and our market – are facing and it’s this, along with the incredible back-office support they’re providing to us, that made them such a good match for ResusPod.’
The ResusPod offer covers all the requirements of the new regulations, including medicines in tamper-evident containers and specialist infection control materials.
ResusPod customers are supported through a sophisticated inventory management system that will provide them with new medicines/equipment as and when required.
The product had its official launch at the Dentistry Show on 4 March.
YABA has been supported by regional development agency Yorkshire Forward and over the last ten years has been involved in £21 million of investment in companies across the region, creating more than 300 jobs.
James Farrar, assistant director of Business at Yorkshire Forward comments: ‘YABA is a unique regional forum which helps new and expanding businesses access the additional funding and expertise to reach their full potential. It’s great to see businesses like ResusPod benefit from this service and adding to its already significant success.’