The public company dependent on the Government of Navarra has accompanied the firm specialising in trauma surgery solutions since 2017. Thanks to this exit operation, therefore, the public-private strategy to promote local start-ups with high growth and internationalisation potential carried out by the regional government is reinforced.
Furthermore, it once again demonstrates Sodena’s role as a key agent in promoting the growth and development of business projects, both local and foreign, through various formulas ranging from early-stage support, the granting of loans and capital rounds to direct dialogue between the regional administration and multinationals and other foreign-owned companies established in the territory.
The relationship between the two entities began eight years ago with an initial participatory loan of €100,000, intended for the development of advanced technology for the reconstruction of the anterior cruciate ligament (ACL).
Subsequently, in 2022, Sodena led a €1.2 million financing round together with Clave Capital, contributing €350,000 and capitalising part of the initial loan. Thanks to this support, Abanza Tecnomed was able to move forward with the consolidation of its WasherCap® device, which has been patented and CE marked since 2020 and also obtained FDA 510(k) certification in 2022. This device, used for the first time in ACL reconstructions in Spain in 2020, is currently being adapted for use in ankle and shoulder surgery.
Internationally, the company has focused its commercial efforts on the United States, where it has already signed agreements with major hospital groups that strengthen its position in this strategic market.
At the same time, over the last five years, the Abanza team has doubled its workforce to 13 professionals, nine of whom are women, and plans to grow to 30 employees by 2026. Its innovative track record has also been recognised in prestigious forums: in 2019, it received the Everis Award for Innovation, and in 2022, it was the only Spanish company invited to present at the Musculoskeletal New Ventures Conference.
Abanza Tecnomed is currently one of the main players in the health industry in the region, a strategic sector according to Navarre’s Sustainable Strategy for Smart Specialisation (S4). Furthermore, it is an associate member of the Navarra Health Cluster (NHC), the main consortium that brings together the healthcare industry value chain in the region.
A LEADING BIOMEDICAL INDUSTRY
Today, Navarre’s biomedical sector employs 31,508 people across the region. The majority work in healthcare services (27,981), but it is also important to highlight the 2,465 jobs in the medical industry and the 1,065 researchers active in the sector.
In one of our latest reports, we detailed the sector’s growth and its increasing momentum as it strives to become a European benchmark. More information available at the following link.
Source: Sodena.com