Endeavour Capital has acquired Access Scientific, a provider of over-wire vascular access technology, for an undisclosed sum.
Access’ commercial product includes an extended dwell peripheral IV catheter, POWERWAND, which is inserted using the company’s WAND’s proprietary Accelerated Seldinger technique to offer a safer and simpler approach to peripheral intravenous catheterization.
The FDA-cleared device is intended for the administration of fluids/medications as well as for withdrawal of blood for diagnostic testing.
Access Scientific CEO Steve Bierman said the technology has the potential to improve the patient’s hospital experience by requiring a single needlestick for vascular access throughout the length of stay.
"Endeavour’s investment will allow us to increase our efforts to bring this groundbreaking vascular access technology to the marketplace," Bierman added.
Endeavour Capital managing director Mark Dorman said, "We believe the technology is impactful to both clinicians and patients, and we are excited to provide the growth capital necessary to support ASI’s growth and success."