January 28, 2014
GREENWICH, CT and ANN ARBOR, MI — Biotronic NeuroNetwork (“Biotronic”), a Great Point Partners I, L.P. (“GPP”) portfolio company and the nation’s leading intraoperative neurophysiological monitoring (“IONM”) company, today announced that it has acquired Neurophysiology Associates, LLC (“NPA”), a premier regional IONM provider based in Athens, GA.
Greg W. Sasso, Chief Executive Officer of Biotronic NeuroNetwork commented, “We welcome all of Neurophysiology Associates’ team members and customers to the Biotronic team. This partnership will serve to strengthen Biotronic’s leadership position in the IONM market segment and clearly expands our national service footprint by providing an excellent entry in the attractive markets of South Carolina and Georgia. We employ over 200 Neurophysiologists servicing over 425 hospital customers and over 1,100 surgeon customers in 32 States. Additionally, the Biotronic team will monitor over 40,000 surgical cases during 2014.”
Biotronic continues to have double-digit organic procedure growth, and is now the market share leader in IONM services. The high organic growth, acquisitions, and successful integrations, clearly demonstrate the Company’s ability to execute on its strategic plan. The acquisition will allow Biotronic to expand its client base to the southeast, as well as add additional skilled technicians to its staff.
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 250 administrative, support and clinical staff, including over 200 technicians throughout the country. Biotronic is the largest independent provider of intraoperative neurophysiological monitoring in the world. www.biotronic.com
About Great Point Partners
Great Point Partners (“GPP”), founded in 2003 and based in Greenwich, CT, is a leading health care investment firm with approximately $700 million of equity capital under management and 23 professionals. GPP is currently making new private equity investments from GPP II, a $215 million fund. Great Point manages capital in private (GPP I, $156 million and GPP II) and public equity (BMVF, approximately $325 million) 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 biologics and pharmaceutical infrastructure, devices and diagnostics, health care services, hospital outsourcing, information technology, 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