SageTech Medical, a medical device and pharmaceutical startup based in Paignton, has raised £2.5 million in funding led by the British Business Bank's South West Investment Fund, through appointed fund manager The FSE Group. The round will support the next phase of growth in the United Kingdom and international markets.
Patented technology developed by SageTech captures waste anaesthetic gases before they are released into the atmosphere, then supports the recovery and recycling of the valuable anaesthetic agents they contain. Veterinary practices and hospitals using the circular system reduce emissions while reclaiming agents that would otherwise be vented, and cut the work-based exposure of clinical staff to vented gas. The technology is already in use across veterinary and human healthcare settings in the United Kingdom and selected European markets.
Adoption is being driven by tightening environmental regulation and sustainability targets across healthcare. Interest is growing from major veterinary groups, and SageTech is building its presence internationally as greener healthcare practices move up the agenda. Life sciences is one of the priority sectors identified in the Government's Industrial Strategy.
Founded in Devon in 2015 by a small team of scientists and engineers, SageTech has been capturing volatile anaesthetic agents in NHS hospitals and veterinary clinics since 2019. Proceeds will be used to expand the team, strengthen operations and support growing demand from healthcare providers.
We've developed a solution that not only helps healthcare providers reduce their environmental impact but, importantly, our innovative technology has the potential to significantly increase the safety of clinical staff by reducing work-based exposure to the vented gas. We're delighted to be working with The FSE Group and the South West Investment Fund as we continue to scale the business from our Devon headquarters.
SageTech has developed an innovative solution to a significant environmental challenge in healthcare. The business combines strong technical expertise with growing commercial traction, particularly in the veterinary sector, and is well placed to benefit from increasing demand for more sustainable healthcare practices. We're pleased to support the company as it enters its next stage of growth.
SageTech is a great example of the innovation taking place in the South West's life sciences sector, combining cutting-edge medical technology with a clear focus on sustainability. Life sciences is one of the priority sectors identified in the Government's Industrial Strategy, and this investment from the South West Investment Fund will help SageTech accelerate the adoption of its technology across healthcare settings in the UK and internationally.
