Cleveland’s newest venture fund: NDI Healthcare to focus on neurodevices

Northeast Ohio has a new healthcare-focused venture fund that’s being led by a familiar name. Neurotechnology incubator NDI Medical, best known for the $42 million sale of a urinary incontinence-treating product to Medtronic in 2008, has started NDI Healthcare Fund with the help of $2 million in funding through Ohio’s Third Frontier technology acceleration program.

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NDI Medical raises $4 million to incubate more neuromodulation technologies

NDI Medical LLC has raised $2.1 million to continue developing nerve-stimulating devices to answer patient needs and improve their health care. The Highland Hills company recently spun out two technologies — one identifies nerves and muscles during surgery; the other stimulates nerves to relieve chronic pain.

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