Seer Medical cofounders in happier times [from L to R]: Professor Mark Cook, Dr Dean Freestone, and George Kenley.
A medtech company named Victorian Startup of the Year in 2022 and backed by Breakthrough Victoria has entered voluntary administration with a “potential sale or large-scale restructure” on the cards.
Pitcher Partners’ Lindsay Bainbridge and Andrew Yeo have been appointed administrators of Seer Medical, a melbourne-based medtech startup that has developed in-home epilepsy diagnostic technology.
It comes after the company recalled its Seer Home systems last year, leading to the closure of 18 of its clinics in Australia, where individuals were fitted with the technology before taking it home.
There were also significant redundancies at the company in 2023 and it is currently facing an unfair dismissal lawsuit filed by Seer Medical’s co-founder and ex-CEO.
Breakthrough Victoria, the private investment company established by the Victorian government, has invested $30 million into Seer Medical.
Looking for the right partner
Seer Medical’s directors voted to enter voluntary administration late last year, and Pitcher Partners was appointed as administrators earlier this week, as The Australian…
