Lauxera Capital Partners has acquired a majority stake in Matrix Requirements, a medtech quality management software provider.
The software editor helps medical device companies with quality and regulatory compliance in a world where the lines between medical devices and software are blurring. Matrix Requirements helps medical device companies develop complex products, often with significant software-dependent features. In addition to more traditional medtech clients, Matrix’s product portfolio is designed to serve the fast-growing “software as a medical device” field encompassing digital therapeutics, connected devices, and technologies leveraging machine learning/artificial intelligence.
This is the seventh investment made by Lauxera Growth I, a growth buy-out fund dedicated to investing in European healthtech.
Founded in 2014 by Wolfgang Huber (former VP R&D at Advanced Medical Diagnostics and co-founder of NeoMed Software) and Yves Berquin (former program manager at Advanced Medical Diagnostics and CTO at SleepOnWeb), Matrix Requirements has grown into a leader in the medtech quality management system software space with two highly differentiated solutions:
- MatrixALM, flexible software for managing medical device technical files with the goal of accelerating regulatory approvals (CE marking, FDA approval, etc.) and reducing non-compliance risk
- MatrixQMS, a quality management system solution enabling medtech companies to develop and maintain their own quality systems reflecting the specific needs of their products in compliance with ISO and FDA standards.
To date, these solutions have been adopted by more than 180 medtech companies throughout the world.
Wolfgang Huber and Yves Berquin, co-founders of Matrix Requirements, said: “We are delighted to partner with Lauxera to accelerate the development of Matrix Requirements and our products. We share the vision of continuing to offer the best solutions to make Matrix Requirements a global leader in its industry. This transaction provides the company with the means to significantly accelerate its growth by adding to the team of which we are very proud. Lauxera’s entrepreneurial culture, skills and experience make it an ideal partner. We are looking forward to this new step in our development.”
Samuel Levy, founding partner of Lauxera Capital Partners, added: “Yves and Wolfgang have built remarkable medtech quality management system products that delight customers and accelerate time to market for life saving medical devices. The medtech eQMS software market exceeds $2.5 billion in size and is growing rapidly as software replaces paper and regulatory scrutiny grows. We are excited to work hand in hand with the Matrix management team to strengthen the company’s commercial engine and enable our customers to navigate rigorous audits without non-conformities.”