Biotronics 3D - Interview with g2i

Biotronics3D, provides cutting edge medical imaging software to improve healthcare by delivering diagnostic information at the point-of-care. The company’s suite of products enable medical staff who are not specialists to easily use the software. Furthermore the products can be run on a standard Windows-based PC making it extremely affordable to their target market of small hospitals and imaging centres. Their flagship product, 3Dnet Suite, has received FDA 510K market clearance and it is CE marked.

The company was originally referred to the Gateway to Investment consortium, g2i, by the London Technology Network. After an initial assessment and induction process, Haralambos (Harry) Hatzakis, Biotronics3D CEO, and Soeren Grimm, CTO, completed the g2i programme.  Before investor introductions, the consortium drafted and advised on the company's investment collateral, including the business plan, business model, opportunity note and investor presentation.

‘The g2i programme was an invaluable resource to the management of Biotronics3D in our search for venture capital investment’ says Harry. Having agreed a short list of preferred potential investors, the consortium made the relevant investor introductions.  One of these introductions was to Julian Hickman, a Partner at Longbow Capital.  Following the introduction, negotiations commenced culminating in completion of an investment of £1.3m from Longbow in July 2008.

Post-investment, the Company has expanded its R&D resources and is now increasing its capabilities in sales, customer support, business development as well as expanding its intellectual property portfolio. Investment has also provided credibility to the Company which is valuable in supporting customer relationships as well as providing new sales opportunities in a typically conservative market.

A key focus for a small Company such as Biotronics3D is maintaining, motivating and recruiting highly skilled staff, as well as continuing to develop its intellectual property and competitive advantage. The Company is expanding its product range and is developing software suites, services and customized solutions that can be targeted to specific diseases.

Biotronics3D is working actively to expand its network of small and large strategic partners which enables it to expand its geographic and market reach. Their business model is also well-tuned to the recent economic downturn since they are helping customers reduce their need for expenditure on new capital equipment, by providing sophisticated imaging software and services.

An added benefit of working with Longbow Capital has been the ability to challenge and review strategic and tactical business opportunities and plans. Reflecting on the recent growth of Biotronics3D….‘It’s twice as challenging post-investment but happily much more than twice as interesting!’ says Harry.

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