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SAT Raises R30m in Finance!

3 Jul 2012 - 17:15

coa

Southern Access Technologies (Pty) Ltd (SAT), a medical device start-up, has received significant funding that will enable it to pursue three medical devices related to treating rheumatic heart disease. R18 million has been invested by Bidvest in the newly-created Southern Access Technology Holding (SATH), whilst the Technology Innovation Agency (TIA) has invested a further R12 million in SAT.

This investment provides an important and strong signal to the rapidly emerging medical device hub that is forming in Cape Town

We regard this as a start-up, as opposed to spin-off, company as the IP was developed outside of UCT, but UCT has shareholding in Southern Access Technologies (Pty) Ltd due to the close synergies and facility requirements going forward, especially as UCT is a hub for training in cardiothoracic surgery in Africa.

Read the UCT press release here [INSERT LINK]

Read the Bidvest press release here {INSERT LINK}

More information can be found on their website http://southernaccesstechnologies.com/