Velentium – an engineering firm that specialises in the design and manufacturing of therapeutic and diagnostic active medical devices for companies ranging from start-ups to Fortune 100s – has announced a growth recapitalisation in partnership with Connecticut-based Great Point Partners (GPP), a healthcare investment firm.
GPP’s investment will allow Velentium to scale national operations and fuel emerging opportunities as part of its global expansion and mission to develop life-changing technologies.
Since Velentium was founded in 2012, the company has become a trusted design and development firm bringing new medical devices to life, while simultaneously expanding its competencies in the energy and manufacturing sectors. By prudently cultivating a culture of independent thinking, the company has assembled an adept and agile team committed to achieving projects when the science is “near impossible.” After evaluating existing market opportunities, the engineering firm selected GPP in part based on its extensive experience in the healthcare industry, expansive professional network, and most importantly, its support of Velentium’s vision to change lives for a better world.
Dan Purvis, CEO of Velentium, said: “When Great Point reached out to us earlier this year, we were immediately impressed with their deep knowledge of our market and track record building businesses. We continue to build an organisation that improves the lives of people and families by helping to bring transformative medical devices to market, and Great Point is uniquely positioned to enable us to do that at an even larger scale. Today, we are starting a new chapter and taking a crucial step in realising our dream of having 1,000 families as part of our organisation.”
GPP managing director Adam Dolder, added: “Velentium has played a pivotal role in the development of ground-breaking neuromodulation devices that have led to important medical technology advancement. We look forward to being partners with Dan, Tim and the entire team and helping them to achieve their goals for the company.”
In 2020, Velentium scaled operations during COVID-19 as part of “Project V” at General Motors’ Kokomo, Indiana, manufacturing facility. Several months later, Velentium acquired Oasis Testing – a Texas-based designer of automated test systems for the energy and manufacturing industries.
