Interrad Makes Progress as it Prepares for Strategic Engagements
Interrad Medical's subcutaneous catheter securement device, SecurAcath, is rapidly becoming the standard of care in hospitals of NHS England and in leading hospitals around the world.
In June 2017 NICE issued guidance in favour of the use of SecurAcath. In March 2018 by SecurAcath was selected for funding by NHS England’s ITP central procurement programme. Only four out of more than 250 applications were successful. This month SecurAcath was included in the 2019-20 Commissioning for Quality and Innovation framework (CQUIN). This is a system introduced in 2009 to make a proportion of healthcare providers' income conditional on demonstrating improvements in quality and innovation in specified areas of care. CQUIN’s 2019-20 publication specifies that SecurAcath is to be used as a replacement for adhesive securement devices, which include Bard Medical’s StatLock.
LGB acted as European placement agent in Interrad’s $7.5m equity fundraising in 2014 and in the company’s issuance of $7.5m loan notes in 2017/18. LGB is currently arranging the placement of a new series of notes and is advising the company on its engagement with strategic counterparties.