The deal will include $2.5 million of new equity and a range of services to further create cost-competitive products, and increase the sales and marketing efforts of PercuVision. The company sells a direct vision catheter that improves the quality of care and reduces the incidence of injury and infection.
“We are delighted to have EGI as a new partner and believe it will contribute to the future success of PercuVision,” Errol Singh, MD and CEO of PercuVision stated. EGI (and its subsidiary eNNOVEA Medical) is a major manufacturer in Ohio with considerable medical device experience.
As a result of the investment EGI will own approximately 26% of the company. Utilizing the collective capabilities of both companies, the new alliance will provide a one-team approach to support existing products as well as newly developed products.
“The alliance with PercuVision supports our strategy to bring innovative technologies to the health care industry” said Larry Jutte, President of EGI. The EGI subsidiary eNNOVEA Medical provides development through production support with their proprietary e7 process for many in the health care industry.