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Investment for The Magstim Company Supports Growth and Expansion

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Carmarthenshire-headquartered medical technology developer The Magstim Company has invested in new product development and US expansion after it secured backing from a specialist life sciences, medical and healthcare investor.

The company, which makes medical devices used in neuroscience, psychiatry and neurology, secured investment from US firm Telegraph Hill Partners last year. Since then it has developed new products with the aim of growing the business over the coming years.

The US has become a key growth area for the business after the Food and Drug Administration (FDA) granted clearance for its technology to be used in the treatment of drug resistant major depressive disorder.

SOURCE: mediwales.com