Rockville firm gets $1 million in capital High Techsplantations is developing programs to train physicians

September 21, 1996|By Jay Hancock | Jay Hancock,SUN STAFF

High Techsplantations Inc., a Rockville developer of virtual-reality medical simulation technology, got a $1.05 million capital infusion of state, federal and private dollars, economic development officials said yesterday.

"This project is particularly exciting because HT is working at the crossroads of two of our target industry sectors: information technology and bioscience," said James T. Brady, secretary of Maryland's Department of Business and Economic Development.

The financing is supposed to help High Techsplantations, to be renamed HT Medical Inc., perfect software that will train doctors to perform medical procedures.

The software also will have other medical applications, said Blanche Johnson, of the Maryland Health Care Product Development Corp., a public-private organization in Columbia.

State officials refused to say whether the $1.05 million package is equity, debt, grant or some other type of financing instrument.

Of that amount, $400,000 is coming from the Maryland Health Care Product Development Corp., which is financed mainly by federal money.

An additional $250,000 comes from the state's Enterprise Fund for developing companies, said DBED spokesman Andrew Spitzler.

Money also was provided by Cook Inc., a privately held medical device company.

HT has won awards for its virtual reality technology.

The company was a finalist at this year's Smithsonian Computerworld Medical Innovation of the Year contest and at the Discover Awards.

Pub Date: 9/21/96

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