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Georgian Angel Network Closes $725,000 Investment in Medical Device Technology Company Avenir Medical Inc.

Tue, 04/24/2012 - 12:45pm
The Associated Press

Georgian Angel Network ("GAN") announced today the recent completion

of an investment by the group in Waterloo-based Avenir Medical Inc. in

the amount of $725,000.

"The investment in Avenir Medical Inc. is one of two recently made by

GAN in the medical technology sector, and represents a significant

step forward in financing the commercialization of Avenir's

PelvAssist? technology. We are extremely pleased to be involved with

this energetic and entrepreneurial management team, and look forward

to working with them in meeting their future financing requirements"

said Sandy Robertson, Founder and Managing Director of GAN.

"We are excited about the investment made by accredited angels from

GAN" said Armen Bakirtzian, Co-founder and CEO of Avenir Medical lnc.

"This funding will support the continued development of PelvAssist?, a

novel medical device aimed to assist orthopaedic surgeons deliver a

superior quality of care to their patients while reducing the

incidences of surgical error."

About Avenir Medical lnc

Founded in 2010, Avenir Medical lnc.

http://www.avenirmedical.com(http://www.avenirmedical.com) researches,

develops, and commercializes orthopaedic medical devices. Their

flagship technology, PelvAssist?, assists orthopaedists deliver a

superior quality of care to their patients. lt allows them to

correctly implant the prosthetic components used to replace a diseased

hip joint, a process that is traditionally performed by eye.

About Georgian Angel Network

Georgian Angel Network is a member organization comprised of

accredited investors in South-Central Ontario seeking to deploy their

financial, intellectual & experiential capital in high-potential

startup companies. While GAN has a regional investment preference,

compelling opportunities from beyond the GAN catchment area that fit

with our investment criteria are also welcome. We are currently

seeking additional high net worth investors, as new members, who see

angel investing as an integral part of their overall investment

portfolio.

Georgian Angel Network is profiled on Linkedln. Please join us today

by clicking on the LINK below.

http://www.linkedin.com/company/georgian-angel-network?report%2Esuccess=se2U8YjzSfSLqmrvJ.(http://www.linkedin.com/company/georgian-angel-network?report%2Esuccess=se2U8YjzSfSLqmrvJ.)

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