Archangel investors, a business angel group based in Scotland has achieved a healthy return on their investment in a Glasgow-based medical technology company.
Medical technology firm Mpathy Medical was sold to a Danish firm Coloplast in a £22m deal. Mpathy specialises in developing less invasive surgical solutions for womens’ pelvic health. The company received initial investment from Scottish Enterprise and business angel syndicate Archangels both of whom now expect to receive more than double their investment. Archangel investors, put in almost £5.6m to Mpathy and its sister company Gyneideas which was also sold as part of the deal. Business angels will receive more than double their original investment (£11.8m) from the sale.