Pedilay® Care GmbH: Innovative medical device startup on growth path closes Series A financing round
Medical dressing material manufacturer secures financing tranche for production site expansion in Hessen
Pedilay® Care GmbH laid the foundation for its corporate success with the market launch of the Pedilay® med foot bandage, a world first in the dressing material market. Now the company has successfully completed a Series A financing round with Hessen Kapital III ( EFRE ) GmbH ( www.bmh-hessen.de ) as lead investor and other industry- related investors. The aim of the financing round in the single-digit million range is to expand the new production site in Grebenhain, Hesse, to gain European sales partners and to successively expand the Pedilay® med product series.
Innovative materials for the manufacture of medical devices
For Pedilay® Care GmbH, everything revolves around optimal patient care with intuitive and ready-to-use bandages, always with the aim of making everyday care easier. For its innovations, the startup relies on a new, extremely adaptable, elastic and specially developed fleece material to meet the complex requirements of modern wound and patient care. The first product in the Pedilay® med product series is a secondary foot dressing for modern wound care, which is primarily used in the outpatient care of patients with diabetic foot syndrome. After successful first sales measures at the beginning of the year and the acquisition of national sales partners in Germany and Austria,
“In the start-up phase for the product launch, we were still working with a Czech medical device manufacturer, with whom we were also very satisfied,” explains Managing Director Hannes Weiland. “Having our own production facility in Germany makes us more independent and allows us to react faster to market growth with production volumes. In addition, the location in Hessen enables us to expand our Pedilay® med product line, to develop new product lines and to serve the existing interest in the market for new types of laminates with our own capacity. ”
Hessen as an attractive production location
“Fortunately, we have found exactly the right partner in Beteiligungs-Managementgesellschaft Hessen mbH (BMH) to support us in expanding our location,” says Hannes Weiland. “We are happy about the local jobs that we can create and are already noticing that the rural region brings motivated and interested employees. The “made in Germany” factor can definitely be played out here “in the middle of Germany” as a strategic advantage in the global bandage market. “
“We at Pedilay were won over by the very innovative product idea, which is so far unique on the market in this high quality, as well as the group of shareholders who can contribute positively to the sales of the product with their broad network”, says the responsible investment manager, Stephan Groß . “We are happy that we were able to advise the company on the selection of the location as well as the use of further funding opportunities and that we were able to win them for the state of Hesse,” added the managing director of Hessen Kapital, Mr. Jürgen Zabel.
Pedilay® Care GmbH was advised on Series A financing by Jens-Michael Otte (JMO GmbH) as a financing advisor and a team of lawyers led by Frankfurt-based venture capital and M&A partner Philipp Weber (FPS Fritze Wicke Seelig Partnerschaftsgesellschaft von Rechtsanwälten mbB).
BM H Beteiligungs-Managementgesellschaft Hessen mbH
Hessen Kapital III (EFRE) GmbH is managed by BM H Beteiligungs-Managementgesellschaft Hessen mbH, the central provider of public equity capital in Hessen. As a subsidiary of Landesbank Hessen-Thüringen Girozentrale, BM H is integrated into the economic development of the State of Hesse via WIBank. 50% of the funds come from the budget of the State of Hesse and 50% from the European Fund for Regional Development (ERDF). They are given in the form of silent partnerships and open equity investments to small and medium-sized companies, including technology-oriented start-ups or university spin-offs. Further information is available at https://www.bmh-hessen.de
Pedilay Care GmbH
Pedilay Care GmbH is a young, globally networked team of practitioners, researchers and entrepreneurs with headquarters in Munich and its own production in Hesse. As a driver of innovation, we strive to develop intuitively applicable associations with high-quality and well thought-out materials in order to enable greater independence and product acceptance among patients as well as to make everyday care easier.
Find out more at: www.pedilay.care
Pedilay® Care GmbH: Innovative medical device startup on growth path closes Series A financing… was originally published in FrankfurtValley on Medium, where people are continuing the conversation by highlighting and responding to this story.