It is hoped 30million devices, a retractor with a special operating light built in, will now be sold around the world each year.
And the invention was dreamt up by NHS staff and created by Scottish Health Innovations Ltd (SHIL), based in Gartnavel Hospital.
Keith McKellar, CEO of SHIL, said: "This is a great example of the NHS working collaboratively with Scottish firms to design and develop solutions to problems faced within the health sector.
"SHIL is uniquely positioned to allow this type of innovation to drive growth in the Scottish life sciences sector."
Bosses hope the tool will transform surgical theatres and claim it could benefit one third of hospital procedures.
The illuminated retractor, to be manufactured by company Clear Surgical Ltd, is designed for use by surgeons carrying out open cavity surgery.
It provides retraction after surgical incisions have been made while using small, in-built LED technology to illuminate the part of the body being operated on.
Clear Surgical's illuminated retractor lights up the interior cavity of an incision during surgery while the retractor holds open the incision.
SHIL, which encourages NHS staff to discuss ideas for innovation and develops IP on behalf of the NHS, received details of the need for an illuminated retractor from a member of staff at NHS Ayrshire and Arran.
Jim McGuire, of Clear Surgical Ltd, said: "This is an exciting opportunity to take an innovative product to market.
"This product will be the first in a portfolio of medical devices originating from the NHS in Scotland."
A total of £620,000 has been invested by the investment group, Kelvin Capital and the Scottish Co-investment Fund. The product is expected to be made widely available early next year.