MIDDLETOWN, R.I., Sept. 7, 2021 /PRNewswire/ -- QMed Innovations, creator of unique hardware and software asset tracking systems for the medical device industry, today announced that RJ Valentine Ventures/The MBA Group has led Series A financing to accelerate growth. This round of funding is now successfully closed.

The investment will enable QMed Innovations to continue momentum that began in 2019 and has accelerated in 2021. Today, over a dozen leading medical device manufacturers use QMed Innovations' products—Quest and Quest Tote—to track the daily location of inventory to maximize capital investment. QMed products are fully autonomous Internet of Things (IoT) tracking solutions and Quest is the first asset tracking solution that can withstand the high temperatures and pressures of the autoclave sterilization process, essential for the medical device industry.

"We are thrilled to partner with the QMed Innovations team to help lead a new chapter in the organization's growth," said Valentine, Chairman, RJ Valentine Ventures/The MBA Group. "We see a large market opportunity in asset tracking. QMed products are designed with emerging technology that can give customers unprecedented, powerful data for asset tracking and strategic inventory cost management."

Gartner, the world's leading research and advisory company, offers a supporting perspective on the asset tracking market opportunity. Its recent "Emerging Technologies: Revenue Opportunity Projection of Indoor Location Services" projected asset tracking to grow from less than $1 billion in 2021 to nearly $26 billion by 2030. The report expects asset tracking to reach early majority adoption by 2026 when it will reach a market volume of $6.7 billion.

"QMed Innovations is revolutionizing the way medical device manufacturers, distributors, and providers can track their instruments," said Victor Nunes, QMed Innovations Founder and CEO. "We are excited to partner with RJ Valentine and The MBA Group to expand our go-to-market strategies, drive adoption, and provide our customers with return on investment based on critical time saved and reduced costs—improving their bottom line performance."

About QMed Innovations
QMed Innovations enables medical device manufacturers, distributors, and providers to better track their instruments by providing unique hardware and software solutions that automatically deliver data and analytics for unprecedented insight. Learn more at qmedinnovations.com.

Contact:
Kathleen Van Gorden
KVG Communications
[email protected]  

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SOURCE QMed Innovations