Velentium, which specialises in the design and manufacturing of therapeutic and diagnostic active medical devices has been ranked 2500 on Inc. Magazine’s 39th annual list of the fastest-growing privately held companies – The Inc. 5000.
Dan Purvis, CEO of Velentium, said: “It’s been a momentous year for our Velentium team, and we are incredibly honoured to be recognised in the Inc. 5000 among the country’s fastest-growing independent businesses. Velentium’s commitment to designing and manufacturing high-quality medical devices has allowed us to grow at 50% annually over each of the past five years, while providing innovative technology that will help our clients change lives for a better world.”
This recognition comes on the back of Velentium’s work on the frontlines in the fight against COVID-19 as part of “Project V” at General Motors’ Kokomo, Indiana manufacturing facility. Launched at the onset of the global health pandemic, Project V is an initiative to mass-manufacture Ventec’s VOCSN and V-LINE ventilator systems to meet increasing demand.
Velentium has seen growth in medtech engineering and manufacturing in the last year and claims to be an industry leader in protecting medical devices with embedded security. Velentium’s projects include an implant that allows paralysed people to walk again, a device that gives locked-in people the ability to control robots with their thoughts, a deep brain stimulator that helps those with memory loss regain 20 years of “brain age,” and a new transcutaneous electrical nerve stimulation (“TENS”) device that breaks the cycle for those with an opioid addiction.
Purvis added: “COVID-19 forced our company to continue to find innovative ways to help create healthcare solutions for patients across the country. Since our inception, we have developed solutions to overcome ‘near-impossible’ challenges and redefine what is possible in the medical field. Our dedicated team is rapidly transforming the future of medicine and shaping treatment options for patients of all types.”