Diepenbeek, October 22nd, 2018 – Bedal nv, an award-winning start-up that develops innovative medical devices for catheter fixation, announced today the closing of a €2.6 million Series B financing round led by F3 Finance, an investment office for a number of Belgian families, and LRM, the Limburg Investment Company. The company, located in the Health & Care incubator BioVille in Hasselt, will use the funds to bring its unique proprietary catheter fixation technology to the European market, and to further expand its product range with novel devices.
Launch of new product line
“We are honored with this boost for the company” says Alexander Van Damme, co-founder and CEO of Bedal. “We are eager to continue the journey and launch several new innovative devices for the fixation and stabilization of catheters. We are delighted to receive continued support from existing shareholders such as LRM, and to welcome an important new investor, F3 Finance, who shares our vision on the path forward for the company. The fact that all existing shareholders participate in this round is also a clear indicator of the belief in the potential of the technology “
Bedal will launch its first fixation device, designed to secure drainage catheters, early next year. Initially a network of distributors and partners will be established in France, Germany, the UK and Scandinavia. The product portfolio will be extended to a wider range of catheter fixation devices. The R&D and Quality Operations are located at Bioville in Hasselt
A full portfolio of devices
“Based on our patent portfolio, we are developing a range of devices for the fixation and stabilization of various types of catheters. It is very exciting to see the high level of interest this has already generated among distributors and catheter manufacturers.” Says Franc Wijdeveld, CCO of Bedal.
The majority of patients in the hospital receive a catheter during their treatment, these catheters are often sutured to the skin to keep them in place, these sutures are associated with an increased risk of infection. With the fixation devices of Bedal these catheters can be easily secured without sutures. The patented technology developed by Bedal (i) results in a fixation of catheters that is significantly more secure than existing alternatives, (ii)applicable to a broader range of catheters and (iii) is more user and patient friendly.
Bedal developed a first solution allowing patients with long term catheters to shower autonomously while remaining connected to the IV line, thereby reducing nursing time and infection risks, the Bedalpatch. In this first device, a technology was developed to provide a watertight seal around a catheter. Based on this technology, Bedal has started developing a range of fixation and stabilization devices for catheters.
“We have been very impressed with the clear vision of the Bedal team and the uniqueness of the technology to deliver stabilization of catheters. We believe in the global potential of this technology, and are delighted to support Bedal in the execution of its plans”. Says Sten Albertijn, of F3 Finance, representing several Belgian families, among which Taste Invest, the investment vehicle of the Westerlund family.
“I am very pleased to see that Bedal is now able to expand its product range and market reach, thus improving patient safety and comfort. LRM strongly believes in Bedal’s technology and team and is happy to further support the company to fully realize its growth potential,” says Katleen Vandersmissen, Head of Health and Care at LRM.
BEDAL was founded in 2011 by Alexander Van Damme, Falk Beerten and David De Munter, following the experiences of David during his cancer treatment. Initially, Bedal developed a solution to allow patients with intravenous therapy to shower autonomously. The company has CE and FDA approval for this Bedalpatch shower dressing and built a distributor network in several continents. Based on the propriety technology for the watertight sealing of a catheter, Bedal applied this technology in a new device for the fixation of catheters, the Drainpatch, that shall be launched in the beginning of next year.
More info: www.bedal.be
About F3 Finance
F³ Finance is an independent investment office that executes direct investments for a select number of Belgian families. F³ Finance has a specific focus on European companies (both start-ups and mature family owned companies) that target international growth.
LRM is an investment company that develops and stimulates economic growth in Limburg. We provide a solid foundation, allowing companies and projects, which create jobs in Limburg, to grow. Our financial means and economic expertise, together with Limburg’s key assets, create a unique breeding ground. LRM has a consolidated equity of 409mio€.
More info: www.lrm.be