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Despite Recession, Medical Device Development Group Continues to Thrive


July 14, 2011 - ATLANTA, GA

Medical Device Development Group (MDDG) is celebrating its fifth anniversary, having not only survived the recession, but actually thrived. The company, which is focused on medical devices, provides comprehensive product development as well as resources that extend from product conceptualization, through prototyping and manufacturing, to order fulfillment.

"Recession? What recession?" says Partner Don White with a hearty laugh. "We've been consistently busy for the past few years working with a range of companies and projects. We've been lucky, but then I was told a long time ago that the harder you work, the luckier you get."

The MDDG business model has two sides: 1) providing a full range of support for existing companies that are commercializing medical device products; and 2) discovering innovative technologies, establishing a company to commercialize the product and then spinning it off as a separate entity. MDDG clients range in size from international companies to independent inventors, start-ups, universities and nonprofit organizations.

The first company founded and funded by MDDG is Atlanta Catheter Therapies (www.atlcath.com), for which it provided initial funding after spinning it off. The company's innovative approach to Peripheral Vascular Disease is receiving positive feedback, and it is now in its second round of prototyping and testing, with Series A funding expected soon.

The next step for MDDG is to establish an investment fund, which will allow it to fund and spin off two companies a year. In addition to funding, these companies will benefit from MDDG's proprietary processes that accelerate time to commercialization.

During its first few years the company focused primarily on companies in Georgia. "Our goal has been to help grow the medical device industry in Georgia by demonstrating that local talent is available, and that companies can prosper here in the state," says Scott Hampton, an MDDG partner. "Because all of the founders live in Georgia, we really love being able to work with local companies. Over the last few years we've found a very strong demand for our capabilities in Tennessee and Florida, and a growing amount of work with European firms."

MDDG has just updated their website (www.med-dev-group.com) to better reflect the company's offerings.

Through years of experience with a wide range of products and companies, MDDG has identified all of the essential steps necessary to bring a medical product to market. The company -- through staff or strategic partners -- provides every one of these necessary steps, either as part of a total project management package or on an individual basis.

"Every product is different, and every company has a slightly different need," says White. "We believe in flexibility because one size doesn't fit all. We can supplement internal resources or provide a turnkey solution that incorporates every activity needed to bring a medical device to market, and that's not a simple process."

One of MDDG's recent successes was with Glenveigh Medical, a life science and medical technology company focused on advancing the practice of obstetrics (www.glenveigh.com). Glenveigh had licensed a new, game-changing medical device to address post-partum hemorrhage (PPH) from its inventor physicians. However, the primarily pharmaceutical company did not have the technical staff to develop a medical device product.

"We started the project with a human factor analysis to determine the 'Ideal Product,' which resulted in functional and practice enhancements to the original concept," says Hampton. Following that, MDDG provided management and execution of regulatory and compliance, supply chain, technology development and risk management. Additionally, MDDG provided support of IP and business activities and guidance through human clinical studies.

The Ebb product is on the market, offering life-saving treatment to a potentially fatal condition. MDDG is currently working on multiple additional products for Glenveigh.

"The MDDG process is very thorough, and their team of industry veterans bring valuable industry insight into every project we undertake with them," says Rick Proctor, the CEO of Glenveigh Medical.

What's next for MDDG? The partners, who also include Jorge Almirall and Paul Fitzpatrick, are planning their next spin-out while initiating work on an investment fund that will expedite the launch of additional projects. "There were a lot of naysayers when we started the company, and it's great to reach the five-year mark," Hampton says. "But we don't have time to look back, there are too many opportunities ahead of us." That optimism, and the success of MDDG, bode well for the medical device industry in the Southeast.

About MDDG
Medical Device Development Group (MDDG) was founded in 2006 by experienced medical device executives, each with more than 20 years in the industry. With a focus on devices in Class 1 to Class 3, MDDG offers comprehensive product development as well as skills that extend from product conceptualization, through prototyping and manufacturing, to order fulfillment. MDDG's proprietary business methodologies and processes have been proven to reduce time to market and enhance profitability. www.med-dev-group.com

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Lynn Hood
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