VitaTek Eyeing $50M Goal in Series A Funding Round Launch

VitaTek has begun a Series A Funding round with the goal to raise $50 million. Investors are invited to purchase up to 1,000 shares in VitaTek at a minimum investment of $100,000 for two shares.
 
This funding will allow the incubator/accelerator to: finalize the acquisition of I-Tek, an ISO-13485 and U.S. Food and Drug Administration-registered medical device contract manufacturer; complete the build-out of VitaTek’s 70,000-square-foot headquarters; establish a 13,000-square-foot cleanroom; and acquire manufacturing equipment.
 
VitaTek’s $547 million valuation is based on its consistent, strong financial performance, a robust pipeline of 33 medical device products in incubation, nine OEM medical device products, more than 70 product lines in manufacturing, in-house EtO sterilization, and the value of its only-in-class vertically integrated services.
 
“VitaTek is positioned to seize the growth potential in the global medical devices market, set to reach $799.67 billion by 2030. Our scalable business model drives significant revenue growth with minimal costs, and our dominant market position offers a clear competitive edge,” VitaTek CEO Jason Scherer stated. “We are the largest private medical device manufacturer in Minnesota with a gross total of $316 million based on OEM devices. VitaTek is the only medical device manufacturer in the world that provides all the following services in-house: R&D, rapid prototyping, regulatory, user testing, die mold and tooling, contract manufacturing, sterile barrier packaging, injection molding, final assembly, ETO sterilization, distribution, and medical device sales team.”
 
VitaTek is a fully vertically integrated one-stop incubator and accelerator. It collaborates globally with clinicians, inventors, and startups to bring medical device concepts to life.