ProMedica Innovations, the medical device commercialization sector of Toledo, Ohio-based ProMedica health system, has launched a healthcare technology incubator to support the development of entrepreneurial companies.
The Medical Technology Business Incubator created by ProMedica Innovations will provide life science technology businesses with support services to boost their chances of commercial success by providing training, mentors, space, professional assistance and capital.
The incubator has invested in its first start-up company, Sylvania, Ohio-based VentureMed Group, which is working on developing and commercializing devices to treat common vascular diseases. VentureMed Group's first invention, a catheter that cuts through plaque and is designed to fit any patient's artery, is currently being used in clinical trials in Europe.
ProMedica's new incubator is located on the Wildwood Medical Center campus.
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