WOODBURY, Minn.--(BUSINESS WIRE)--VitaTek, the only vertically integrated medical device incubator, accelerator, and manufacturer, is thrilled to announce the launch of a Series A Funding round with the goal to raise $50 million. Investors are invited to purchase up to 1,000 shares in VitaTek at a minimum investment of $100,000 for two shares.
This funding will allow them to:
- Finalize the acquisition of I-Tek, an ISO-13485 and FDA-registered medical device contract manufacturer
- Complete the build-out of VitaTek’s 70k sq ft state-of-the-art headquarters
- Establish a 13,000 sq ft clean room
- Acquire cutting-edge manufacturing equipment
VitaTek: A Compelling Investment Opportunity
VitaTek’s $547 million valuation is well-justified considering their consistent, strong financial performance, a robust pipeline of 33 medical device products in incubation, 9 OEM medical device products, 70+ product lines in manufacturing, in-house ETO sterilization, and the value of their only-in-class vertically integrated services.
CEO Jason Scherer states, "VitaTek is positioned to seize the remarkable growth potential in the global medical devices market, set to reach $799.67 billion by 2030. Our scalable business model drives significant revenue growth with minimal costs, and our dominant market position offers a clear competitive edge. We are the largest private medical device manufacturer in Minnesota with an impressive gross total of $316 million based on OEM devices."
Scherer continues, "VitaTek is the only medical device manufacturer in the world that provides all the following services in-house: R&D, rapid prototyping, regulatory, user testing, die mold and tooling, contract manufacturing, sterile barrier packaging, injection molding, final assembly, ETO sterilization, distribution, and medical device sales team.”
To support our growth and encourage investment, we’re offering a 20% kicker for shares purchased until November 30th of 2023.
VitaTek invites investors to participate in Series A investment to disrupt medical device manufacturing.
About VitaTek
VitaTek is the world’s only fully vertically integrated one-stop incubator and accelerator. We collaborate globally with clinicians, inventors, and startups to bring innovative medical device concepts to life. Our in-house services include: R&D, rapid prototyping, regulatory, user testing, die mold and tooling, contract manufacturing, sterile barrier packaging, injection molding, final assembly, ETO sterilization, distribution, and medical device sales team. We also provide medical device funding, marketing, and medical device sales team support.
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