Press "Enter" to skip to content

UVA Darden Alumni Founded Medtech Company Goes Public

NEOFECT, the medical technology company co-founded by two graduates of the Darden School of Business at the University of Virginia, recently reached a milestone, opening a second US office in Richmond, Virginia, and making its debut at Korean stock exchange, KOSDAQ.

The company has managed to bag $17 Million in its debut trade on November 29 to fund its expansion project in a number of ways, including through increased production, marketing efforts, software development around the range of rehabilitation products. Scott Kim, CEO, and co-founder of NEOFECT USA, said that the path to an IPO began more than a year ago, while the company’s rapid growth started harder to make more and more money to which they are seeking.

Since launching of Rapael Smart Glove, a product initially developed to improve stroke rehabilitation, NEOFECT has added extra products to be used as part of rehabilitation after brain injuries and stroke and solutions to help people with hand paralysis, including the latest addition to the company, NeoMano, a robot glove.

The decision to expand outside its US headquarters and San Francisco Bay and Richmond, Virginia, its second US outpost comes from the Darden network. Ben Weimer read an article about the company’s earliest stages in the student magazine, The Darden Report.

The CEO stated that the accountability of taking care of customers, employees and now shareholders can keep you stirring at night, but that many ambitious company measures are being respected by its founders and enjoy real growth in the market and in the lives of customers, personal commitments are worth.

Well accomplished IPO is the fresh example of funding accomplishment for ventures initiated by alumini of Darden. According to the recent report there is around 83% spike in 2018.

Be First to Comment

Leave a Reply

Your email address will not be published. Required fields are marked *