Kiran Patel invests $60M in medical company to reduce heart blockages |
Thanks to a $60 million investment by Indian American cardiologist and entrepreneur Dr. Kiran Patel in Concept Medical Inc., the company is set to move from Miami to Tampa in Florida.The investment in Concept Medical Inc. will pay for clinical studies on cardiac devices coated with a substance that reduces the risk of heart blockages and the length of time a patient needs to take blood thinners.Cardiovascular diseases are the No. 1 cause of death globally, representing 31 percent of all global deaths, and it is increasing due to changes in lifestyle and the increase in hypertension amongst the young and old, Patel said . This venture enables me to contribute to the millions of hearts beating around the world.Concept Medical and its manufacturing subsidiary in India have developed new technologies in which stents and balloons used to open blocked coronary arteries are coated with Sirolimus, a substance that reduces the risk of rejection, the report said.With conventional stent or balloon treatments, the risk of restenosis — re-narrowing of the arteries — "is 8 to 10 percent," Patel said.
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