Overview
After almost losing his partner to a sudden cardiac arrest (SCA), Donovan Casey set out to reduce the survival gap between SCAs and emergency care. He founded Rapid Response Revival and created CellAED — a personal defibrillator that would help save lives and disrupt the automated external defibrillator (AED) sector.
A mission to save lives
Revolutionising stagnant AED technology involved extensive product R&D. The MedTech assembled a multi-disciplinary team that pursued Rapid Response Revival’s goal of creating an ultraportable, easy-to-use AED that was also — and most importantly — affordable. Rapid Response Revival’s CellAED technology has also created a new market segment for private individuals and businesses and garnered multiple design, innovation and tech awards along the way.
Initially, Rapid Response Revival attracted seed capital and investor funding for its R&D. But as the company grew, the MedTech wanted to optimise its R&D capital and avoid becoming overly diluted. The business was already claiming the R&D Tax Incentive (R&DTI), so accessing its refund strategically with multiple Radium Advances enabled it to optimise its capital and cash flow.
Rapid Response Revival Company Secretary and Head of Investor Relations Damian Shrubsole says, “Radium Capital had a clear process and transparent timeframe and offered us the certainty we needed to accelerate our R&D and business growth.”
Taking growth to heart
After bringing its innovation to market in 2022, Rapid Response Revival is accelerating and scaling up the production of its technology while continuing to solve problems and save lives. Today, with a presence in six markets worldwide and more than 23,000 CellAED devices sold to date, Rapid Response Revival is accelerating its commercialisation journey to ensure many more people have access to its lifesaving technology.
For more information, visit the Rapid Response Revival website.
