Deals
RoundTable Healthcare Partners, an operating-oriented private equity firm focused exclusively on the healthcare industry, has completed the acquisition of Santa Cruz Nutritionals (SCN) from Levine Leichtman Capital Partners.
SCN, founded in 1968, is a manufacturer of gummy vitamin, mineral, supplement (VMS) and other nutraceutical products in the US. Financial terms of the transaction were not disclosed.
Lester Knight, a founding partner and co-chairman of RoundTable, will serve as chairman of the board of Santa Cruz. Mike Westhusing, chief executive officer, and Randy Bridges, chief financial officer and chief operating officer, will continue to lead the company’s management team and
SigmaCare has secured new equity funding from healthcare investment firm Marlin Equity Partners and existing investors.
SigmaCare provides clinical software to the long-term and post-acute care market enabling providers to improve quality of care and financial results by driving down costs, increasing revenue and reducing risk and re-hospitalisations.
"The funding from Marlin Equity Partners will allow SigmaCare to expand our nationwide presence, accelerate product innovation and strengthen interoperability initiatives," says Steve Pacicco, chief executive of SigmaCare. "Marlin’s broad resources and expertise make them the right partner to help SigmaCare address the rapidly changing needs of our customers and
Green Innovations has settled over USD2.6m in trade payables, removing these obligations from its balance sheet, in exchange for the issuance of shares of its common stock to Ironridge Consumer Co, an institutional investor specialising in direct equity investments in consumer product companies.
As a result of the transaction, Green Hygienics, a wholly-owned subsidiary of Green Innovations, has turned strategic payables on the balance sheet into equity. In addition to significantly strengthening the balance sheet, the transaction will enable the company to focus on increasing sales and its ongoing efforts to develop high-quality eco-friendly products made from sustainable and
Venture capital fund manager Mercia Fund Management (MFM) has invested GBP150,000 in Oxford Genetics Ltd.
The new biotechnology company is behind SnapFast – a system that simplifies the purchase of synthetic DNA molecules (plasmids).
Dr Ryan Cawood, chief executive of Oxford Genetics, invented the SnapFast system and likens it to “Lego for DNA”.
Historically, most genetic engineering has been performed by combining pieces of DNA, gathered from a variety of sources that were never intended to fit together. This can make clinical research and drug development time-consuming, costly and often frustrating. Oxford Genetics provides all of the
A fifth portfolio company of life sciences venture capital firm Domain Associates has received funding under its investment agreement with Russian state investment corporation Rusnano.
ReVision Optics, a Southern California-based firm developing Raindrop, an inlay for presbyopic vision correction in Phase III trials, has raised USD55m in a financing in which Domain, Rusnano subsidiary RusnanoMedInvest and other investors participated.
A year ago Domain and Rusnano announced a USD760m partnership whereby Rusnano agreed to invest along with Domain and Domain portfolio investor syndicates. In addition, the partnership fosters transfer of technology into Russia and establishes manufacturing facilities in Russia
Venture capital investment into European companies experienced a quarter over quarter increase, while exits for European venture-backed companies improved on Q1 2013.
However, during the first half of 2013, initial public offering (IPO) and merger and acquisition (M&A) activity declined in contrast to the same period in 2012.
A total of 12 European venture capital funds accumulated EUR890m in Q2 2013, an increase of 17 per cent in amount raised from the prior quarter albeit with a 14 per cent drop in the number of funds.
In contrast with Q2 2012, the number of funds fell by
Darwin Private Equity has completed the management buyout of Esendex, a provider of mission-critical application-to-person SMS services to businesses, in a deal worth GBP11m.
Esendex’s services are used by more than 6,500 businesses around the world to improve customer service, communicate with employees, increase operational efficiency and generate sales.
Clients include Ocado, BAA Gatwick, ASOS, Addison Lee, Dun & Bradstreet, ASDA, and Virgin Media. Esendex offers a combination of web-based tools and the ability to provide clients with direct connectivity to their own systems through highly functional and flexible APIs.
Founded in 2001 by Julian Hucker and
New Zealand private equity investor Rangatira has acquired a 12 per cent stake in benchtop NMR and MRI specialist Magritek for a non-disclosed sum.
The transaction will strengthen Magritek’s balance sheet and enable the company to make a significant investment in its offshore sales and marketing following the launch of its new Spinsolve Benchtop NMR spectrometer earlier this year.
Magritek chief executive Dr Andrew Coy says: "Spinsolve has met with a very encouraging market response particularly from chemists in academia and industries including pharmaceuticals, food, polymers and petrochemicals. Spinsolve is a unique offering in that it provides the
Precision Engineered Technologies, a portfolio company of private equity firm Joshua Partners, has acquired Imperial Machine and Tool Company, a precision boring and machining company based in Wadsworth, Ohio near Akron.
Charles Corpening, the chairman and founder of Joshua Partners, says: "The team at Imperial has built the company into a leading provider of turning, milling, and boring of rough steel into finished parts. Imperial provides dedicated and complex machining services to long term customers in several high growth markets, including the hydraulic fracturing ("fracking") segment of the oil and gas industry and the steel industry. With sophisticated machining
Mercia Fund Management (MFM) portfolio company PolyTherics has merged with Antitope, a provider of antibody engineering and immunogenicity screening services, to create an enlarged group with an extensive suite of services and technologies to enable the development of better biopharmaceuticals.
PolyTherics is issuing new shares up to an aggregate value of GBP13.5m to fund the merger with Antitope and to provide working capital. Imperial Innovations led the investment and brought in new investor Invesco Perpetual with further funds provided by Mercia Fund Management and Advantage Enterprise & Innovation Fund.
The PolyTherics group has a strong client base in
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