Paignton-based SageTech Medical has secured a £1 million equity investment from the British Business Bank’s South West Investment Fund through appointed fund manager The FSE Group. The investment is part of a £2.5m funding round that will support the company’s next phase of growth in the UK and international markets.
Founded in Devon, SageTech has developed patented technology that captures waste anaesthetic gases before they are released into the atmosphere. The company’s circular solution helps veterinary practices and hospitals reduce emissions while supporting the recovery and recycling of valuable anaesthetic agents. Its technology is already being used across veterinary and human healthcare settings in the UK and selected European markets.
The investment will be used to expand SageTech’s team, strengthen operations and support growing demand from healthcare providers. The company is seeing increasing interest from major veterinary groups and is building its presence internationally as environmental regulations and sustainability targets drive adoption of greener healthcare solutions.
Dr Iain Menneer, CEO of SageTech Medical, said:
“We’ve developed a solution that not only helps healthcare providers reduce their environmental impact but, importantly, our innovative technology has the potential to significantly increase the safety of clinical staff by reducing work-based exposure to the vented gas. We’re delighted to be working with The FSE Group and the South West Investment Fund as we continue to scale the business from our Devon headquarters.”
The purpose of the South West Investment Fund is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the South West. It offers a range of commercial finance options with smaller loans from £25k to £100k, debt finance from £100k to £2m and equity investment up to £5 million. The fund is increasing the supply and diversity of early‑stage finance for South West smaller businesses, providing funds to firms that might otherwise not receive investment and helping to break down barriers in access to finance.
You can read the FSE Group news release here.
To find out more about the British Business Bank and the South West Investment Fund, take a look at the web pages here. Or get in touch with the Growth Hub team to explore funding options for your business.
