March 1, 2010
GREENWICH, CT and ANN ARBOR, MI – Biotronic NeuroNetwork (“Biotronic”), a Great Point Partners I, L.P. (“GPP”) portfolio company and the leading intraoperative neurophysiological monitoring (“IONM”) company, today announced that it has acquired BiWater Surgical Monitoring, LLC, a premier regional IONM provider based in Salt Lake City, Utah.
Dr. Gene Balzer, Chief Executive Officer of Biotronic commented, “The BiWater team has done a great job of providing high quality services to the hospitals, surgeons, and patients that they served. Our goal is to improve upon the solid foundation that was built. In addition, this is a great fit for Biotronic as this partnership allows us to expand into attractive geographic areas we have been targeting.”
The acquisition marks the third such transaction Biotronic has closed over the past three years. The acquisitions, and successful integrations, clearly demonstrate the Company’s ability to execute on its strategic plan. Adam B. Dolder, Chairman of Biotronic and Managing Director at Great Point Partners said, “This is an important strategic step for Biotronic as it provides an ideal entry into attractive markets and a strong base from which to expand in those markets. We are excited at the continued growth of Biotronic NeuroNetwork.”
IONM utilizes advanced electrophysiological modalities to monitor and record the functional integrity of critical neural structures (brain, nerves, and spinal cord) and organs in real-time during surgeries such as neurological, spinal, vascular, cardiothoracic, orthopedic and other complex procedures where these structures potentially could be at risk.
Founded in 1978, Biotronic NeuroNetwork is headquartered in Ann Arbor, Michigan and currently employs over 225 administrative, support and clinical staff, including over 175 technicians throughout 17 states. Biotronic is the largest independent provider of intraoperative neurophysiological monitoring in the world, serving over 450 hospitals and 1,200 surgeons annually. www.biotronic.com
About Great Point Partners, LLC
GPP, based in Greenwich, Connecticut, is a leading health care investment firm with approximately $400 million of equity capital under management. The firm manages capital in public and private equity funds. Great Point Partners has provided growth equity, growth recapitalization, and management buyout financing to more than 100 health care companies. Both the private and public funds invest across all sectors of the health care industry including biotechnology and life sciences, consumer health, generic drugs, health care services, information technology, insurance, medical devices, specialty pharmaceuticals, and workers compensation. The firm pursues a proactive and proprietary approach to sourcing investments. Reach Great Point at 203-971-3300. www.gppfunds.com
This document is intended solely to provide information regarding Great Point Partners’ potential financing capabilities for prospective portfolio companies.