Bristol based P3 Medical has announced the acquisition of its first US product development deal called Stericom and the news that the company will be entering the ABHI Innovation Hub in Texas, a unique partnership between the UKâs medical technology trade association, the Association of British Healthcare Industries (ABHI), and the Dell Medical School at The University of Texas at Austin.
The Innovation Hub provides UK companies with the infrastructure to strengthen market access and clinician engagement in Texas and beyond and P3 Medical is the sixth company to join it.
This is a great opportunity for us as a company, especially with our recent acquisition of Stericom Ltd, which has a lot of US potential, said Simon Talbot, P3 Medicalâs managing director. We have also just signed our first product development deal with a leading US academic hospital for a new airway device and have real scope to grow a number of our other products across the USA. Being part of the Hub allows us to be in a world-class facility, within an ecosystem of clinicians, investors and mentors whilst we grow our American business.
Stericom will be run as a stand-alone division of P3 Medical, while maintaining operations form its Chesham facility.P3 Medical is a manufacturer of medical and surgical devices such as equipment drapes and covers, disposable surgical accessories and single-use anaesthesia and airway management devices.
Additionally, the manufacturer is also part of ABHIâs current mission in Texas, taking place from the 3rd until the 9th of March. The objectives of this mission are to help UK companies reduce the time to profit and to enhance growth and return on investment in the USA.