Abu Dhabi, UAE: DisruptAD, one of the region’s largest venture platforms, is investing in SonoStik, a leading Abu Dhabi-based innovator in the medical devices space. SonoStik was founded in 2013 by Dr. Hawaa Althahak Almansoori, a medical doctor by training and a member of the Federal National Council of the UAE, along with a team of physicians and engineers from the George Washington University Medical School in Washington D.C. The company’s first novel product, SonoStik® Guide Wire Introducer, provides an easy and safe way to facilitate the placement of IV catheters in patients.
Health care facilities that draw blood or that infuse medicines often face challenges in introducing needles into patients. SonoStik’s first device is designed to minimize time as well as unsuccessful attempts, and hence improve the process and patient experience. This also reduces the incidence of complications such as infections, thereby reducing overall costs to healthcare providers.
This SonoStik® Guide Wire Introducer is a U.S. patented and FDA cleared medical device that helps facilitate the successful placement of intravenous catheters in patients, even those with hard to see veins or with veins that do not palpate. The investment from Ghadan Ventures Fund will be used to ramp up commercial production and to launch the product in the UAE as well as other markets.
“This investment represents an affirmation of our view that there is a distinct need for a product like this in the health care setting, especially in a post Covid-19 world where healthcare improvements are front and center. We intend to use this funding to ramp up production of our product and to begin commercial distribution in UAE and across other countries,” said SonoStik’s CEO, Richard Fogel.
Dr. Hawaa Almansoori, Chairman of the company said, “We are providing a solution to a real, unmet medical need. Making it easier to locate veins for infusions and blood tests will not only make the entire process more comfortable for patients, but will save money and staff time in hospitals and other health care facilities in terms of the time spent on this process.”
The Ghadan Ventures Fund is a AED 535 million fund under the Ghadan 21 program and is managed by DisruptAD. It is part of DisruptAD’s broader mission to support and nurture 1,000 start-ups over the next five years and create a thriving local community of founders, fund managers, incubators and accelerators in Abu Dhabi. Till date, Ghadan Ventures Fund has made 15 direct investments in leading start-ups and partnered with 7 early-stage VC funds, all with a local presence in Abu Dhabi.
To find out more about SonoStik, please visit https://www.sonostik.com
© Press Release 2021
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