Published in Health Care

Holland-based VC invests in Detroit medtech firm

BY MiBiz Staff Wednesday, December 05, 2018 12:12pm

HOLLAND — Venture capital fund Cultivate(MD) Capital Fund II LP invested in SpinTech Inc., a Detroit-based startup that developed a suite of software for brain scan MRIs.

The company’s software collects data differently using a software processing technique that increases speed and accuracy while improving the overall workload.

Terms of the deal were undisclosed.

“We are very excited about SpinTech’s vision to build a comprehensive software platform for the diagnosis and treatment of brain trauma and neurological degenerative diseases,” stated Matt Ahearn, vice president of finance and operations for Genesis Innovation Group LLC, a developer of health care technologies and creator of the Holland-based Cultivate(MD) venture capital fund.

“They have decades of technical and thought leadership in the field of MRI, a global network of clinical partners and a product vision to help people suffering from neurological disease,” Ahearn stated.

Cultive(MD) most recently invested in Medical Ingenuities LLC, a Wheaton, Ill.-based early-stage medical device company developing a device that reduces complications in the radial artery following a cardiac catheterization.

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