MPM Capital, a life sciences venture capital firm, has opened its Midwest office in Kansas City. Governor Mark Parkinson, Joe Reardon, Mayor and chief executive of the Unified Government of Wyandotte County and Kansas City, Kansas, and Tom Thornton, president and chief executive of the Kansas Bioscience Authority, were joined by community, civic and life sciences leaders to welcome MPM and open the newly-renovated MPM Heartland House. "MPM has long been interested in life sciences throughout the Midwest. While our primary focus at the MPM Heartland House will continue to be human therapeutic products, the Kansas City office gives us

An affiliate of H.I.G. Capital, a private equity investment firm, has acquired VAS Aero Services from AB Volvo. Headquartered in Florida, VAS is a provider of aftermarket aviation component services and distribution. The company was formerly known as Volvo Aero Services. VAS Aero Services sources, warehouses, and markets aftermarket components across a broad range of aircraft and engine platforms and provides related services to airlines, leasing companies, and MRO providers. “We are very pleased by H.I.G.’s support of the business and will benefit from their commitment to growth,” says Claes Malmros, chief executive officer of VAS. “We will continue to

Alps Advisors, a provider of advisory solutions to the investment management industry, says assets under management in the Alps Red Rocks Listed Private Equity Fund have crossed USD100m. Sub-advised by Red Rocks Capital, the fund is one of the Alps Portfolio Solutions sponsored by Alps Distributors. The fund, launched on 2 January 2008, seeks to maximise total return, which consists of appreciation on its investments and a variable income stream. “The success of the Alps/Red Rocks Listed Private Equity Fund is particularly gratifying given the profoundly difficult macro environment the fund encountered on its launch,” says Corey Dillon, senior vice

Halfpenny Technologies, a provider of clinical data integration solutions specialising in laboratory, pathology and physician electronic medical record system interoperability, has secured USD2.6m in venture capital funding co-led by Pennsylvania-based Osage Venture Partners and New York-based Milestone Venture Partners. Lore Associates, a Philadelphia-based angel group, also participated in the round. “We are extremely pleased to have the support of investors who affirm our vision of providing innovative clinical data integration solutions for hospitals and laboratories,” says Jerry Baker, chief executive of Halfpenny Technologies. “With this financing, the company is well-positioned to deliver its Lab Hub platform to meet the increasing

Mountain Acquisition and Mountain Merger Sub, both affiliates of Vestar Capital Partners V, have completed the cash tender offer for all of the outstanding shares of common stock of HealthGrades at a purchase price of USD8.20 per share in cash, without interest and less any applicable withholding taxes. The tender offer expired at 9am New York City time on 7 October 2010. “Now more than ever, consumers are looking for trusted sources to help make informed healthcare choices,” says Roger Holstein, managing director of Vestar and co-head of its healthcare sector. “With more than 200 million annual visitors to the

Capital raised by US private equity funds has fallen despite a rise in the number of funds raising capital. During the first three quarters of 2010, 279 funds raised USD68.8bn, a ten per cent drop in capital raised from the same period last year when 266 funds secured USD76.7bn, according to Dow Jones LP Source, an industry database that tracks private equity fundraising. "Although limited partners are willing to support strong performers and certain niche investment strategies, they are often committing the same size or smaller amounts than they did during the prior fund-raising cycle," says Laura Kreutzer, assistant managing

The National Pensions Reserve Fund will commit EUR30m to two venture capital funds in support of Innovation Fund Ireland.  Innovation Fund Ireland is a government initiative to attract international venture capital fund managers to Ireland. DFJ Esprit Fund III (EUR20m) and DFJ Fund X (EUR10m) are the recipients of the investment.  DFJ Esprit is a pan-European venture capital firm that has backed companies such as Lovefilm, Buy.at and Imagine in Ireland.DFJ is an investor in emerging technologies and has backed companies such as Skype and Tesla Motors. DFJ Esprit has also appointed Brian Caulfield as a partner of the firm

Mid Europa Partners has completed the acquisition of 100 per cent of Med-Sport, the Polish healthcare services provider.  Med-Sport offers CT and MRI imaging diagnostic services to public and private customers, through five facilities located in Southern Poland.   Pawel Padusinski, associate director of Mid Europa who led the transaction, says: “We are very pleased to have completed the acquisition of Med-Sport, which represents a further step in Mid Europa’s ongoing consolidation of the Polish healthcare market initiated with the acquisitions of Lux Med and Medycyna Rodzinna in 2007, CM LIM and Promedis in 2008 and TP Med and Tabita