Albert Medical Devices Limited (07520002): administration
- Status
- Administration ended
- Administration began
- 2017-07-25
- Administrators
- Gilbert J Lemon, Andrew Stephen Mcgill
- Administrators' firm
- Evelyn Partners
- Formerly
- Ellmath (194) Limited
- Incorporated
- 2011-02-07
- Location
- Birmingham
- Industry
- 32500 Manufacture of medical and dental instruments and supplies
From the administrators' statement
The Company was incorporated on 7 February 2011 with the purpose of developing, manufacturing and distributing a pump-based urology product known at the ‘Melio Leg Bag’. The Company obtained a portfolio of worldwide patents and intellectual property rights, and subsequently commenced manufacturing the product in China for sale in the US.
The Company was in the early stages of its life cycle and generated limited revenue by selling the product to several healthcare distributors in the US, !t was funded predominantly through shareholder investment and monies invested by the secured creditor. At the date of administration, the Company’s shareholders had invested in excess of £2.5m into the business.
A fundraising exercise was undertaken during the first half of 2017 with a view to obtaining further capital investment, however this proved unsuccessful.
Administrators' statement of proposals (2017-09-27) · Companies House register