UK - Bank of Scotland Corporate backs APA Parafricta

The deal was conducted through the unique Co-Investment Programme arrangement between the Bank and the Oxford Investment Opportunity Network (OION), which provided the balance of the equity through the MedInnovate group of business angels.

Garments and bedding made from APA Parafricta's unique ultra low-friction fabric are used to protect patient skin when there is a risk of damage to highly sensitive areas, resulting in bedsores or pressure ulcers. Expenditure by the NHS in the UK on treatment of bedsores alone exceeds £2.1bn every year.

The Co-Investment Programme was launched by OION and Bank of Scotland Corporate’s Growth Capital team in early 2008. Through the £2m scheme, the Bank will match funds from OION investors in innovative technology companies.

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• Topics
• Early-stage
• UK / Ireland