How Archimedia helped a Medical Device Company set up robust financial controls
About ViVO Smart Medical Devices Ltd
ViVO is a Nottingham-based Medical Device company that provides research, design, development, contract manufacturing support and go-to-market strategies. They provide technical services for NHS Clinicians developing new medical device innovations and medical device manufacturing companies in the UK and Internationally. They are currently developing their own range of medical devices in Ophthalmology Care Monitoring.
ViVO Smart Medical Devices Ltd's Problem
When ViVO first started trading, they had a great service that customers loved and new product innovations to expand the business. However, one of the major challenges was the need for a Financial Director who could help and support them with their ambitious growth plans.
Having identified potential grants and loan funding to develop new product innovations in Rehabilitation and Trauma Care, they then needed to put in place robust financial controls across the business. The CEO and Founder of ViVO is a health technology entrepreneur developing medical devices and health technology products and has had previous roles working as an executive for Colgate, Unilever, and Honeywell in the UK and internationally.
ViVO was founded in 2011 and has been a valued client of Archimedia Accounts since its inception. Our support has extended throughout their growth journey from company set-up and registration right through to compliance. Archimedia Accounts continues to provide accountancy services and advice across the entire finance function, including bookkeeping, payroll, pensions, accounts compliance, tax planning, financial control, and financial director duties.
Archimedia's Solution for ViVO Smart Medical Devices Ltd
Archimedia Accounts stepped in with Barbara Demetriou as ViVO’s assigned Financial Director. Barbara partnered with ViVO to help with raising and securing investment, grants and loan funding, and she played a key role in establishing financial reporting practices, devising strategies for growth and ensuring investment readiness.
The company has been successful in obtaining grants and bank loan funding and is presently preparing for investment to grow its health technology products for the UK and International healthcare markets.
Testimonial
“Archimedia Accounts have been extremely supportive and insightful. They have helped me grow ViVO, put in place all aspects of Accountancy and acted as a financial sounding board as ViVO develops its growth plans. I couldn’t do without them, and ViVO Smart Medical Devices business would not be where it is today without Archimedia Accounts.”