Medpoint Launches Seed Funding Round

22 Oct 2021 | 10.39 am

Medpoint Launches Seed Funding Round

Tax break available under Employment and Investment Incentive

22 Oct 2021 | 10.39 am

Medpoint, the medical injury product and diagnostic startup, has formally launched its €400,000 seed funding round to EIIS investors.

The funding will go towards ramping up its sales and marketing plans with the aim of doubling turnover over the next two years.  The company is also growing its staff number, and plans to have 10 people employed by the end of 2023.

Medpoint sources and distributes a range of healthcare and diagnostic products for its customer base of doctors, physiotherapists, nursing homes, chiropractors, pharmacies, and professional sporting organisations.

Founder and CEO Neil Brown said that there is a significant and growing demand in the healthcare market of injury management, ergonomics, exercise, rehabilitation and near-patient testing.

“Of particular interest to Medpoint is the ergonomic and clinical equipment market, where the company sees significant opportunities to specialise in neck pain products,” he said. “Many studies over the years have pointed to an annual prevalence rate in the population of between 30% and 50%, with women reporting higher statistically.”

Medpoint recently announced partnerships with two European ergonomic manufacturers, elsa in Switzerland and Reha Fund in Poland.

The company says it has already raised 60% of its funding round, and is targeting EIIS investors in the run up to tax deadline and year end. EIIS Investors who are looking to save tax in the run up to filing deadlines can reclaim up to 40% of their investment in the form of a tax refund.

“We have already seen significant inquiries regarding EIIS and this will only increase further as we approach 31 December 2021,” Brown added.

Brown has over 25 years’ experience in growing and scaling businesses in a variety of sectors, including seven years in the medical and biotechnology industry. An accountant by profession, he trained in BDO and Mazars before setting up a corporate care business which he later sold to Nasdaq-quoted Bright Horizons Family Solutions.

Photo: Medpoint founder Neil Brown and director Lisa Mitchell.

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