An investment of between $8 million and $10 million might be made by a new investment partnership between government-supported fund manager the New Zealand Venture Investment Fund (NZVIF) and private investment company New Zealand Diagnostics (NZDx) in order to develop globally focused medical diagnostics businesses in New Zealand.  

It was reported by NZDx director William Randall today that noticeable commercial potential could be included in some promising technologies emerging in New Zealand.

The delivery of better and more efficient treatment was enabled by new diagnostic technologies, as healthcare costs rose around the world.  

It should be noted that already NZDX has invested in eBonz, which developed 3D anatomically based models of all joints in the human body, and Manawatu Diagnostics, which was developing human fertility medical diagnostic technology.

“The partnership with NZDx was the ninth partnership NZVIF had entered through its $40m Seed Co-Investment Fund, which was investing into early stage companies with strong potential for high growth, alongside investments made by its partners,” said NZVIF.  

A sum of $17.6m has been invested by NZVIF so far into 21 companies via Seed Co-Investment Fund partnerships.

(Via TopNews New Zealand. Contributed by Manish Verma)