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Medical modelling firm Axial3D to create 20 new jobs after £3m investment


Invest NI head Kevin Holland

Invest NI head Kevin Holland

Invest NI head Kevin Holland

Belfast medical imaging company Axial3D has said it will create 20 new jobs after a £3m investment.

The funding round was supported by existing and new investors including Techstart NI, Co-Fund NI, Invest NI's new Covid-19 Equity Investment Fund, and Future Fund, backed by the British Business Bank.

Axial3D, based in Ormeau Avenue, said revenues had tripled during the pandemic, with 200 new hospitals using its anatomical models.

It says its patient-specific 3D imaging and printing techniques have helped advance standards of surgical planning, diagnosis and treatment.

Its models are used in fields like neurosurgery, cardiac surgery, trauma and orthopedics. During the pandemic, it also diversified into making test kits, masks, face shields and ventilators.

To support its growth, the company said it had appointed Mark Alvarez and Joey Mason as board directors, adding that the pair each have 30 years experience of scaling up high-potential medical device companies.

Axial3D chief executive Roger Johnston said: "We have an opportunity in front of us to fundamentally change patient-specific care around the world. We believe that traditional 2D imaging will be replaced by 3D imaging as the basis for new standards of care over the next few years.

"Axial3D has a unique capability to be a true leader in this market. Axial3D is truly thankful for the support of all of our investors and to Invest NI in particular for its continued support and confidence in our business, even in these really unique times."

Invest NI chief executive Kevin Holland said it had been supporting Axial3D over the last five years.

"I'm pleased to see the first completed investment from our new Covid-19 Equity Investment Fund which is giving Axial3D access to vital investment which will help it overcome the challenges presented by Covid-19.

"Coupled with our support from our Access to Finance funds, Techstart NI and Co-Fund NI will help Axial3D respond to Covid-19, build on its international success and aid its future growth ambitions."

The company, which employs around 25 people, was last year named Best Established Small/Medium Business in the Belfast Telegraph Business Awards in partnership with Ulster Bank.

Belfast Telegraph