Strait Access Technologies Holdings (SATH) is the holding company of the SAT Group. SATH is engaged in the Mitral Clip and Heart Valve product development. Its shareholders are the three founders, the University of Cape Town and the Bidvest Group.
Bidvest, one of South Africa`s top 40 Johannesburg Stock Exchange listed companies, has committed to invest over R51 million into the SAT Group`s projects. Bidvest prides itself on delivering cost efficiencies through innovative solutions and sees a close alignment with the projects objectives for delivering viable effective alternatives to expensive open heart surgery.
“Bidvest is proud to be committed in supporting SAT innovations which will save lives by saving money.”
University of Cape Town
UCT is a significant shareholder in SAT and provides the company with access to the facilities of the university. As one of the leading universities in developing countries, the highest ranked African university and in the top 200 internationally, UCT is internationally renowned for its Medical School which has trained many world leading specialists and academics and been responsible for a number of firsts, including the world’s first heart transplant, prestige that is of particular relevance to SAT.
Together with its teaching hospitals, Groote Schuur and the Red Cross Children’s Hospital, the Cardiovascular Research Unit has evolved into a Pan African training platform for the treatment of heart diseases. UCT will facilitate the training of medical personnel from African countries on SAT products. UCT participates in international projects, research and programmes that are useful to SAT by providing relevant contacts in developing countries and deepening understanding of infrastructure and potential markets.
Strait Access Technologies is the 100% owned subsidiary of SATH and focuses on the development of the deployment device. SAT has been provided with over R11 million project development funding by the Technology Innovation Agency (TIA) which is affiliated with the South African Government Department of Science and Technology.
Technology Innovation Agency
Dr Sibongile Gumbi, Group Executive of TIA for Biotechnology, said: “The Technology Innovation Agency is pleased to be part of this ground-breaking project which is set to have a significant impact on the treatment of heart ailments. South Africa has a long history of working at the forefront of heart disease and we are proud to continue building on this capability. Our investment will not only contribute towards improving the health of our people and create much-needed jobs, but also shows that South Africa can compete in the global arena when it comes to the manufacturing of medical devices.”