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Biotronic NeuroNetwork Acquires Southern California Based Neurowave Monitoring
Introduction
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, is pleased to announce the acquisition of Neurowave Monitoring (“Neurowave”), a California-based provider of technical IONM services.
Since 1995, Neurowave has been a premier provider of IONM services in Los Angeles and Orange counties, earning the respect and trust of regional hospitals and surgeons. “Biotronic is an ideal partner for Neurowave” said Paul Sowa, President of Neurowave. “Their infrastructure and commitment to patients will help the combined entity grow in southern California.” William J. Gecsey, President and CEO of Biotronic NeuroNetwork commented, “The acquisition will allow Biotronic to further serve its client base in southern California and leverage a strong team of technologists.”
“This is Biotronic’s 7th tuck-in acquisition” added Scott Davidson, Managing Director at GPP. “Biotronic is the largest national provider of IONM services, and this further solidifies the company’s leadership position.”
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.
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 $800 million of equity capital under management and 26 professionals, investing in the United States, Canada, and Western Europe. GPP is currently making new private equity investments from GPP II, which has closed on $215 million. Great Point manages capital in private (GPP I, $156 million, and GPP II) and public (BMVF, approximately $400 million) equity funds. Great Point Partners has provided growth equity, growth recapitalization, and management buyout financing to more than 100 health care companies. The private equity funds invest across all sectors of the health care industry with particular emphasis on biopharmaceutical infrastructure, devices and diagnostics, health care services, outsourcing, and information technology. The firm pursues a proactive and proprietary approach to sourcing investments and tuck-in acquisitions for its portfolio companies. Reach Great Point at 203-971-3300 or www.gppfunds.com.
About Biotronic
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. Please see www.biotronic.com/chatstat for more news. For more information on Biotronic please visit www.biotronic.com.