Intellectual property specialist Tekcapital PLC (LON:TEK) has picked up the rights to Wire Caddy from medtech giant Stryker Corporation (NYSE:SYK).
Tekcapital’s subsidiary Belluscura has acquired the exclusive licence and related manufacturing assets for the distribution and sale of the Wire Caddy, a proprietary wire management system that provides lubrication and organisation during multi-wire, multi-exchange operating room cases such as cardiology interventions.
Essentially, the device ensures the wires are available to the surgeon when needed and are out of the way when not.
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The device is cleared for sale in the US and has previously achieved commercial sales in more than 100 hospitals. The consideration for the licence acquisition includes a modest up-front cash payment and the agreement for Belluscura to pay royalties on future product sales. The product is protected by two issued patents.
“We are very pleased to announce that Belluscura has acquired the exclusive licence to the Wire Caddy and is executing its model to acquire and market unique medical devices. Belluscura's mission is to provide premium, proprietary medical devices at affordable prices," said Dr Clifford Gross, executive chairman of Tekcapital.