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SEP invests in medical device pioneer
Heartscape secures $17 million investment


GLASGOW, UK 24 April, 2007 - Leading UK venture capital firm Scottish Equity Partners (SEP) has led a $17 million investment in healthcare pioneer Heartscape Technologies, which has launched an innovative device for the early and accurate diagnosis of heart attacks in emergency room patients.

The Heartscape device, PRIME ECG, designed primarily for use in hospital emergency departments, has already obtained FDA (Food and Drug Administration) approval in the United States. The device provides doctors with more detailed images and information on a patient’s heart than traditional electrocardiograms (ECGs), helping save lives through early diagnosis.

Heartscape Technologies Chief Executive Officer Arthur Hiller said: ““For heart attack victims rapid diagnosis can mean the difference between life and death and impacts a patient’s long-term prognosis. A significant opportunity exists for PRIME ECG to benefit patients by improving the speed of diagnosis and hospital efficiency in managing high-risk cardiovascular patients.”

Heartscape has its research and development and manufacturing base in Northern Ireland and its commercial team in the USA in Boston and Columbia. Maryland.. It will use the new funds for the US commercial launch of PRIME ECG and clinical development.

SEP led second round funding as part of an international investment syndicate which includes Investor Growth Capital of Sweden and existing investors Radius Ventures from New York and Delta Partners from Ireland.

Brian Kerr, Investment Director in SEP’s Healthcare and Life Sciences Team said: “ PRIME ECG represents the first major advance in non-invasive cardiovascular diagnostic devices for years. Clinical results have demonstrated its effectiveness as a front-line diagnostic tool and we believe it has the potential to become the standard of care in this field. It is precisely this sort of breakthrough and disruptive technology that builds value for investors and increases the standard of healthcare. We are pleased to add Heartscape to our portfolio of healthcare pioneers.”

Kerr and co-investor Dr Joachim Werr, Managing Partner of Investor Growth Capital in Europe will join the board of Heartscape.

Dr Werr said: “PRIME ECG has the potential to fundamentally improve the way we diagnose and treat myocardial infarction and coronary heart disease, the most costly and fatal diseases in the EU and USA. PRIME ECG will allow early diagnosis and treatment of myocardial infarctions that are missed by the traditional 12-lead ECG. It will enable doctors to make an early identification of patients who need aggressive therapies, angioplasty or surgery to lessen the risk of longer term heart muscle damage. We are excited about Heartscape and the launch of the PRIME ECG.”

Jordan Davis, Managing Partner at Radius Ventures in New York, said: “We are very pleased that the Heartscape team has received funding from a strong international venture syndicate. Their significant investment further validates the importance of PRIME ECG as a major new clinical tool to deliver the best outcomes in the critical moments following admission of patients with chest pain suspected to be of cardiac origin.”

The PRIME ECG system was initially developed using technology licensed from the University of Ulster in Northern Ireland. It is comprised of a disposable plastic vest with 11 self-adhesive plastic strips containing 80 data collection points or leads which are attached to the front and back of a patient’s body. It offers enhanced diagnostic capabilities to the traditional 12-lead electrocardiogram, allowing doctors to gather critical information which may not be visible with traditional devices.

In the United States more than eight million people visit emergency rooms suffering from chest pain every year and around one million of them suffer heart attacks. The standard 12-lead ECG identifies approximately one-third of the most serious of these heart attacks. However t


Publisher Contact Information:

Scottish Equity Partners Limited (SEP)
+44 (0)141 273 4000
valerie.darroch@sep.co.uk

Company profile of Scottish Equity Partners Limited (SEP)
Past press releases of Scottish Equity Partners Limited (SEP).

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