Local med tech company raises cash for commercialisation

nbr.co.nz

Devonport-based medical technology company Veriphi is raising up to $2 million on equity crowdfunding platform Snowball Effect, as it moves toward commercialisation of its patient safety product.

The start-up has developed laser technology, which it hopes will prevent numerous New Zealanders dying each year after receiving the wrong intravenous medication in hospital.

Medication error is the most common cause of patient harm in the hospital system, causing an average 150 deaths and 400 permanent disabilities in New Zealand every year and costing up to $410 million annually.

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