Market Overview

cultivate(MD) Announces Investment Into SafKan Health

Share:

cultivate(MD) Announces Investment Into SafKan Health

PR Newswire

HOLLAND, Mich., July 10, 2018 /PRNewswire/ -- Genesis Innovation Group's cultivate(MD) Capital Fund II, LP, a fund focused on investments in early stage healthcare companies with innovative technologies, announces its investment into SafKan Health, Inc.

SafKan OtoSet

SafKan has developed a novel cerumen removal system, OtoSet, which addresses the problem of impacted earwax.  While not widely reported, impacted ear wax removal procedures are frequent and time-consuming for Family Practice physicians and Ear, Nose and Throat specialists.  "The SafKan device is designed to be a simple and effective solution for a common problem," said Sahil Diwan, SafKan's Co-Founder and CEO. "SafKan takes a time-consuming and sometimes unpredictable procedure and reduces it to under one minute."

"The SafKan team has been very resourceful and capital efficient in building functional prototypes, conducting a patient safety study and in forming an impressive clinical advisory team.  We are committed to SafKan and support their commercial strategy to launch OtoSet into Family and ENT practices followed by clinics and the consumer home healthcare market," said Matt Ahearn, Managing Director of the cultivate(MD) Fund.  "I was so impressed with the SafKan team's simple and elegant solution to a widely understood, yet underserved problem.  We consider the opportunity to have a high likelihood of success with fewer risk factors than we typically face," added Rob Ball, CEO of Genesis Innovation Group.

SafKan is currently progressing with work on their beta program and partnering with health systems across the United States to develop and publish case studies.   The company will use the funds to secure 510k clearance, build initial inventory and for targeted commercialization.

This press release does not constitute an offer to sell or solicitation of an offer to buy any securities in any offering of securities.  There will not be any sale of any securities in any state or jurisdiction in which such offering, sale or solicitation would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About cultivate(MD) Capital Funds

As a medical device venture capital fund, cultivate(MD) is dedicated to bringing emerging health care innovations to market, with a special focus on medical device and orthopedic technologies.   cultivate(MD) is focused on investing in early stage healthcare companies with innovative technologies that have demonstrated evidence of effectiveness. 

Forwarding-Looking Statements
CERTAIN STATEMENTS IN THIS PRESS RELEASE CONSTITUTE FORWARD-LOOKING STATEMENTS. WHEN USED IN THIS PRESS RELEASE, THE WORDS "WILL," "ANTICIPATE," AND SIMILAR EXPRESSIONS OR THE NEGATIVES THEREOF ARE GENERALLY INTENDED TO IDENTIFY FORWARD-LOOKING STATEMENTS. SUCH FORWARD-LOOKING STATEMENTS, INCLUDING THE INTENDED ACTIONS AND PERFORMANCE OBJECTIVES OF FUND, ITS GENERAL PARTNER, cultivate(MD) OR ANY cultivate(MD) PORTFOLIO COMPANY REFERENCED HEREIN, INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES, AND OTHER IMPORTANT FACTORS THAT COULD CAUSE THE ACTUAL RESULTS, PERFORMANCE, OR ACHIEVEMENTS OF THE GENERAL PARTNER, OR ANY cultivate(MD) FUND OR PORTFOLIO COMPANY TO DIFFER MATERIALLY FROM ANY FUTURE RESULTS, PERFORMANCE, OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH FORWARD-LOOKING STATEMENTS. NO REPRESENTATION OR WARRANTY IS MADE AS TO FUTURE PERFORMANCE OR SUCH FORWARD-LOOKING STATEMENTS. ALL FORWARD-LOOKING STATEMENTS IN THIS PRESS RELEASE SPEAK ONLY AS OF THE DATE HEREOF. THE FUND, ITS GENERAL PARTNER AND cultivate(MD) EXPRESSLY DISCLAIM ANY OBLIGATION OR UNDERTAKING TO DISSEMINATE ANY UPDATES OR REVISIONS TO ANY FORWARD-LOOKING STATEMENT CONTAINED HEREIN TO REFLECT ANY CHANGE IN ITS EXPECTATION WITH REGARD THERETO OR ANY CHANGE IN EVENTS, CONDITIONS, OR CIRCUMSTANCES ON WHICH ANY SUCH STATEMENT IS BASED.

 

Cision View original content with multimedia:http://www.prnewswire.com/news-releases/cultivatemd-announces-investment-into-safkan-health-300678061.html

SOURCE cultivate(MD)

View Comments and Join the Discussion!