Belfast medical technology company Haemoband Surgical has projected major global success for a revolutionary and highly innovative medical device - developed with assistance from Invest Northern Ireland.
Sales of the Haemoband Multi-Ligator device are expected to rise to £2 million over the next three years and as a result, the firm plans to create seven new jobs.
Due to be officially launched at Medica, the world’s biggest international medical exhibition in Dusseldorf from 16-19 November, the Haemoband Multi-Ligator offers a more effective way of relieving the often-acute pain caused by the common medical condition haemorrhoids. A recent winner in the Irish Institute of Design Awards, the product is currently being used by medical staff in a number of hospitals in Northern Ireland and the Republic of Ireland.
Invest NI initially supported the project by offering R&D assistance through its SMART Awards scheme to carry out a feasibility study and then develop a pre-production prototype. Invest NI is now working with the company to help it secure sales and increase market presence worldwide.
Formed last year by Managing Director, Colin Foster and Essam Ghareeb, - the product inventor and consultant surgeon at the Erne Hospital, Enniskillen - Haemoband Surgical has already set up a network of distributors in many parts of Europe and Scandinavia to market the new product.
Mr Ghareeb says: “We have identified a clear market opportunity for Haemoband in the global medical devices sector. Our product has significant advantages over its competitors in performance, ease of use and cost. With Invest NI’s help we have drawn up a sales and marketing strategy and are working to establish an international distribution network.”
Mr Foster adds: “Haemoband Surgical was established to design and develop highly innovative solutions to common problems such as haemorroids, the world’s most common outpatient procedure. It’s a painful condition that affects almost five per cent of the population in the West. In the US, for example, thirteen million people are treated annually.
“Haemoband, our first device, is single use, fully disposable, can be operated by one person and has been shown to reduce the time taken for the treatment of the condition from twenty minutes at present to less than three, thereby reducing levels of discomfort and pain felt by the patient.”
Donal Durkan, newly appointed Director of Creative and Design Industries, Invest NI says “Northern Ireland has recently seen some very strong developments in the medical devices sector and this new company will add to our growing reputation as an innovative region.
“There is always risk inherent in bringing new technology to market but it’s essential that we support early stage companies, such as Haemoband, which have invested in research and development and have strong international market potential. Invest NI’s support will help Haemoband Surgical to accelerate and maximise its global sales.”
The Design Factor, a Belfast based design consultancy, carried out product development work on Haemoband. In addition, the product is being manufactured in Northern Ireland.