ROCKFIELD MEDICAL DEVICES
Enterprise Ireland has been patient with Rockfield Medical Devices, established by Tomas Thompson in 2014, with the aim of developing enteral feeding devices. Enteral feeding refers to intake of food via a tube, either through the mouth, oesophagus, stomach or small intestine. Common underlying reasons for enteral feeding include a stroke, cancer, critical illness or injury, and neurological or movement disorders.
Rockfield’s accounts for the year to September 2019 show the company still at the R&D stage, with the largest debtor being an R&D tax credit. The company booked a loss of €670,000 in FY19 and ended the year with €200,000 in cash. Enterprise Ireland, which had previously made payments of €300,000 to the venture, made another payment of €400,000 in early October 2019, a week after Rockfield tapped private investors for €200,000.
Rockfield’s largest investor is Steripack in Offaly, which invested €400,000 in 2017. Thompson’s financial worries were eased considerably in May 2020, when Enterprise Ireland stumped up again, this time with €830,000. This was in tandem with a €1.6m grant awarded by the European Innovation Council Accelerator SME Instrument, towards the company’s two-year Mobility Plus project, which has an overall budget of €2.3m.
According to the company, this project is using wireless technology, miniaturisation, nano-sensors and computing power to enable the development of a connected medical device for enteral feeding care.
“MobilityPlus will be the first and only solution to provide enhanced usage control options and econnectivity, enabling effective self-monitoring, better care quality and improved diagnosis of side-effects. MobilityPlus has already gained traction with target customers, endusers and key influencers and is progressing well,” the firm explains.