JustRight ramping up for medical device
Last Updated: 16:43 October 3, 2013
Boulder-based JustRight recently raised $4 million in venture capital that will be used to gear up production, sales and marketing of a surgical vessel-sealing device called the JustRight Surgical Vessel Sealing System. The U.S. Food and Drug Administration OKed the device in May.
Sales revenue is expected to grow "significantly" in 2014 and 2015 for the vessel-sealing device and others going through the FDA approval process, said Russ Lindemann, JustRight's chief executive.
A sales price is being established for the device, which is sold directly to hospitals, he said. The device is used mostly for laparoscopic surgeries. It uses radio frequency energy to seal blood vessels during microsurgical procedures, according to the company's 2011 patent application.
JustRight has eight employees. The company expects to grow to 20 to 25 employees in 2014, mostly in sales and marketing and product development, Lindemann said. The devices are made at contract manufacturing companies in the United States.
JustRight Surgical is privately held by mostly local investors. The company previously raised $6.5 million in May 2012.
More breaking news...
Dillard's 'price' case starts Wednesday
Vail Resorts reports loss for fiscal Q1
Business hall of fame seeking nominations
Each year the hall identifies five to eight businesspeople who exemplify business, cultural and philanthropic initiatives that