Toledo, Ohio, May 15, 2019 – VentureMed Group, Inc., a privately-held medical device innovator in vessel preparation for interventional treatment of peripheral arterial disease (PAD) and stenoses of arteriovenous (AV) fistulas and grafts announced today that the Company will be relocating from its current facilities in the ProMedica Innovations Center in Toledo, Ohio to Minneapolis, Minnesota as the Company continues to develop and grow.
“The Toledo-based VentureMed team did an outstanding job building a promising endovascular medical device start-up business,” said J. Robert Paulson, Jr., president and chief executive officer of the VentureMed Group. “This move allows us to build on the Company’s early accomplishments and successes by accessing the broad and deep resources, and creating new jobs, within the Minneapolis/St. Paul medtech community as we continue to evolve and expand the business.”
“We are thrilled to see the advancement of VentureMed to the next stage of growth,” said John Pigott, MD, Founder and Chief Scientific Officer of VentureMed, Director of ProMedica Innovations, and a vascular surgeon with the ProMedica’s Jobst Vascular Institute. “We want to thank ProMedica Innovations for its investment in VentureMed and for nurturing the Company through its early stages, the Northwest Ohio medtech start-up community for their support over the years, and importantly, our Toledo-based VentureMed employees for their many contributions in building the Company and bringing our FLEX Vessel PrepTM System to market.”
The Company expects to complete its relocation over the next three months.
Founded in 2012, the VentureMed Group, Inc. develops and markets innovative endovascular medical devices to solve unmet medical needs in the treatment of PAD and stenoses of AV fistulas and grafts. The Flex Vessel Prep System facilitates an ideal environment for treating PAD and AV fistulas and grafts by safely creating linear, parallel micro-incisions in plaque of any length to deliver acute lumen gain and vessel compliance enabling better clinical outcome for patients. The true vessel prep FLEX technology is currently indicated for use in femoral and popliteal arteries and restoring access to AV fistulas and grafts. The FLEX Vessel Prep System received CE Mark in 2015 and 510(k) clearance from the US Food and Drug Administration in 2016. For more information, visit www.FlexVesselPrep.com.