By TechCrunchTECHCRUNCH: Citi Medical Instruments Inc. Chief Executive Officer Scott Koval says he’s unsure if a new medical device is on its way, but it’s on the roadmap.
Koval told analysts that the company is developing a new “surgical” medical device that can be used in conjunction with a “pharmaceutical-grade” medical instrument.
Citi is a medical device company that has been in the medical device business for a decade.
Kaval told analysts the company has been focused on developing products that provide better value to healthcare providers, as well as to patients.
The company also is exploring potential collaborations with pharmaceutical companies to develop products that are less expensive.
Kailash Kasturiya, Citi’s chief financial officer, said Citi is focused on building out the medical equipment business.
Citigroup has been growing its medical device businesses, with an average of over $300 million in sales in 2017, according to Thomson Reuters.