Greenlight Guru Acquires Medical Device Software Firm
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Indianapolis-based medical tech company Greenlight Guru says it has acquired CanvasGT, a software company in North Carolina that helps medical device companies to collaborate on initial designs and concepts.
The company says the software helps guide new medical device entrepreneurs through the arduous process of submitting their designs and products to regulators.
The price of the acquisition was not disclosed, however Greenlight Guru intends to open an office in downtown Raleigh.
“For years, customers have asked us for our expertise when they are early in the R&D process,” said David DeRam, chief executive officer at Greenlight Guru, “With CanvasGT, not only can we assist them earlier with expertise, but now we’ll be able to help implement true quality into their devices from the very beginning of the ideation process allowing them to iterate faster, design better, safer devices and influence medical device innovators view of design controls from burdensome to a best practices that gives them an advantage.”
The companies say 44% of voluntary recalls associated with quality problems in medical devices could have been prevented by adequate design controls.
“I’m especially proud of the acquisition by Greenlight Guru because our shared vision of medical device success protects that strategic focus,” said Andrew DiMeo, founder & CEO at CanvasGT, “Working together ensures delivering the solution to the users so that more life-saving innovations can successfully get to market faster.”
In June, Greenlight Guru announced it had secured a $120 million strategic growth investment from Maryland-based JMI Equity. The company said the funding to accelerate product development and support “significant global growth.”