In addition, Geetha Rao, Triple Ring’s vice president of strategy and risk management, has joined PRG’s board.

Triple Ring Technologies said that the new relationship allows it to offer a broader level of expertise and resources in the development of diagnostics, therapeutic, and imaging systems for medical device and life science companies.

Working together, the two organisations offer clients a coordinated, seamless transfer between phases of a developmental project, speeding time to market and reducing the chance for miscommunications between non-coordinated development teams during project handoffs.

As a result, medical device entrepreneurs will be able to work with a single entity on all aspects of a development project, from building a prototype and clinical proof of concept through the production of initial commercial units for pilot manufacturing.

Joe Heanue, president of Triple Ring, said: “The strategic partnership will provide significant leverage to companies who want to explore a virtual business model. Our goal is to help entrepreneurs get their company’s products to market quickly without investing the time and resources to build a development team and infrastructure from scratch. PRG is a strong partner that allows us to leverage our strengths further down the development path into other facets of product design and manufacturing.”

Michael Keer, CEO of PRG, said: “We’ve been looking for the company with the right capabilities to complement PRG’s strengths. Triple Ring brings the front end research and development know-how to complement the strong operations expertise already in the group, and they share both our approach to solving difficult technology problems as well as our core values.”

PRG is a combination of senior consultants and companies who have come together to offer services for businesses to optimise their product development and outsourced manufacturing processes.