The Medical Device Business Journal — Medical Device News & Articles | MassDevice
SafeShot Technologies said it brought in a $6 million funding round to pursue a new business strategy, relocated to the Reprise Technologies medical device incubator and expanded its executive roster.
Now based out of the Reprise facilities in Menlo Park, Calif., SafeShot plans to "execute its new business strategy aimed at filling the gap in the supply of sterile injectable medications," according to a press release.
There were 113 Class I medical device recalls between 2005 and 2009, according to the Archives of Internal Medicine, meaning costly medical procedures and possible explantations for 10s of thousands of patients.
Insurance companies are increasingly looking to recoup those costs, Reuters reports, citing a 10-fold increase in mass tort cases over the last decade.
