PediaWorks, a manufacturer of interventional cardiology, IV and hemodialysis catheters, and Medikit, a non-profit organization that develops medical devices for children, have formed PediaCath, a joint venture to help alleviate the severe shortage of medical devices for use in pediatric patients.
Medikit will contribute $500,000 cash as seed funding, its experienced team of R&D engineers and rapid prototyping facilities.
PediaWorks will offer executive management and access to its broad network of pediatric clinical advisors and research partners.
Tim Moran, founder of PediaWorks, will serve as president and CEO of PediaCath, headquartered in Cleveland, Ohio.
Moran said that they are grateful Medikit has the compassion to undertake this venture and feel it will be an ideal model to procure pediatric devices quickly and efficiently.
Medikit CEO Nobufumi Kurita said that the company is pleased to join PediaWorks in such a worthwhile endeavor and leverage Medikit’s advanced design and development capabilities in Japan to improve the health of children worldwide.