Med-tech start-up Arann Healthcare secures €500k investment

20 Jul 2012

Desmond Fahey, CEO, Dublin BIC; Prof Frank Roche, chairman, Dublin BIC; and Paul Maguire, CEO, Arann Healthcare, welcome Taoiseach Enda Kenny (far right) to the Guinness Enterprise Centre in Dublin

Irish start-up Arann Healthcare has secured a new investment of €500,000 to help it progress its technology that’s aiming to tackle infections such as superbugs like MRSA and the E. coli bacterium. The start-up has also been selected to participate in the Healthcare Innovation Hub, a new initiative that the Government has just launched to help start-ups in the health-tech area.

The €500k investment in Arann Healthcare was led by Dublin BIC, co-fund manager of the AIB Seed Capital Fund and manager of the Halo Business Angel Partnership. The funding apparently came from many sources, including the AIB Seed Capital Fund, business angel investors and Enterprise Ireland.

Dublin BIC itself manages the Guinness Enterprise Centre (GEC), where 79 high-potential start-ups are currently based.

As for the Healthcare Innovation Hub, the initiative was launched by the Government yesterday.

The hub will aim to encourage collaboration between innovative companies in the health sector and industry.

Arann Healthcare is one of just six companies that has been selected to participate in this initiative.

Speaking about the €500k investment, Arann Healthcare’s CEO Paul Maguire said it would help the company progress its healthcare technology.

“On top of this, being part of the Healthcare Innovation Hub will provide us with the all-important access we need to help develop and trial our product,” he said.

Carmel Doyle was a long-time reporter with Silicon Republic