Wales is now home to another AIM listed business after medical technology firm MedaPhor began trading this morning.

MedaPhor, which is based in Heath Park in Cardiff, is a global provider of advanced ultrasound education and training simulators for medical professionals.

Its chairman today said its products have the potential to make it a major player in the ultrasound sector.

The firm’s lead product is the ScanTrainer ultrasound simulator training platform.

The ScanTrainer simulator assists students, doctors and sonographers to acquire ultrasound scanning skills, with minimal expert supervision and without the need for a patient to practise on.

MedaPhor raised £4.7m from institutional investors, including the Welsh Government’s Wales Life Sciences Investment Fund, for its flotation.

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The company has a market capitalisation of £10.1m and net proceeds received from its placing on AIM will be principally used to fund the expansion of the company’s sales network globally and to fund the development of applications for the ScanTrainer technology platform within complementary medical markets.

Riccardo Pigliucci, chairman of MedaPhor, said: “The medical simulation market is growing strongly in response to global demand, facilitated by advancing technology.

“We believe our products have the potential to make us a major player in the ultrasound sector of this growing market and today’s AIM floatation is an important milestone in enabling us to achieve this goal.”

MedaPhor has achieved sales of 100 (mainly obstetrics and gynaecology) ScanTrainer systems into more than 80 hospitals in 11 countries around the world.

The group is now focused on building its sales through expanding its direct sales force in the UK, North America and any other markets which the directors believe to be financially viable.