Optasia Medical Finds Buyer

Sarah Woodman, Global events journalist
August 06, 2010 /

Optasia Medical has been bought by Saffron Hill Ventures for an undisclosed sum.

Optasia Medical is the manufacturer of medical software for x-rays.

Saffron Hill Ventures, which is the Global venture capital firm, has planned to retain the whole of the staff after it became the new owners.

Charles MacMillan, who is the administrator of Optasia Medical, confirmed the buy out.

Macmillan is also the partner and head of corporate recovery at Beever and Struthers.

Optasia Medical manufactures medical products which help in the reading of x-rays for the management of musculoskeletal diseases. The company’s products are also used by physicians and in clinical trails for identifying and monitoring patients who will benefit from this kind of treatment.

Saffron Hill Ventures is a company which specializes in the software and media sectors and is known to be one of the top firms in the particular sector.

Optasia Medical has offices in Cheadle, Manchester and Boston in its US division. Saffron Hill Ventures is planning to retain all of the 15 staff of Optasia who work in these three offices.

Charles MacMillan said in a statement after confirming the buy out that, Optasia Medical was very happy to have made the deal which ensured that all the staff in its US division could now be able to retain their jobs.

Macmillan said that Optasia Medical had “very specialized staff”. Coupled with the company’ pioneering software, the staff had the ability to go forward and be an important part of the medical sector in the country.

Macmillan said that the decision to sell Optasia was made when the company faced financial difficulties “because of the funding required to establish the product in the US with regulatory authorities”. He added that Saffron Hill Venture’s ownership would mean that the business could go further.

 

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