Salt Lake City, UT - Sept 15, 2017 – The Managing Partners of Med Venture Holdings are pleased to announce a majority investment in Piranha Medical LLC. Headquartered in Minnesota, Piranha Medical is developing an innovative catheter solution for the treatment of esophageal food impaction.
The company, founded by Dr. Robert Ganz, has developed patent-pending aspiration catheters that are expected to become the standard-of-care for emergency treatment of food impaction. Dr. Robert Ganz is Chief of Gastroenterology at Abbott Northwestern Hospital in Minneapolis, Minnesota and previously founded BARRX Medical. BARRX established the standard-of-care for the treatment of Barrett’s esophagus and was acquired by Covidien.
“It’s an idea that I have had for years, stated Dr. Ganz, “I am excited to further develop this technology. The company is developing two devices; the first device is for blind use by emergency room physicians; and the second for use under endoscopic visualization by gastroenterologists. Piranha will provide a safe, effective, and consistent resolution for patients suffering from esophageal food impaction. There are over 180,000 cases of esophageal food impaction each year and it is necessary to find a more effective treatment to resolve these cases”.
Piranha Medical has selected Biomerics Advanced Catheter, located in Brooklyn Park, MN as its contract development and manufacturing partner. “I am excited to work closely with Piranha Medical and Dr. Ganz”, stated Michael Augustine, Director of Product Development. “It is rewarding to engineer solutions that improve patient health”. The company expects to complete the development in 2018.
About Med Venture Holdings – Med Venture Holdings evaluates, develops, and invests in medical device technologies, products, and services to improve human health and wellness. We partner with entrepreneurs, doctors, engineers, and business owners to provide the financing, relationships, and expertise to build value-creating businesses. Our combination of industry knowledge, regulatory compliance, operations, and finance make us a preferred partner.
Marketing Communications Manager
Med Venture Holdings