February 17, 2009
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, is pleased to announce that it has acquired Neurophysiology Consultants, LLC (“NPC”), a strong regional IONM provider based in Omaha, NE. 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.
Adam B. Dolder, Managing Director at Great Point Partners said, “We are thrilled to support Dr. Balzer and the Biotronic team in this opportunity. The successful completion of this acquisition affirms Biotronic’s ability to target and integrate regional IONM providers and it entrenches Biotronic as the leading IONM company in the market.” The acquisition of NPC marks the second acquisition Biotronic has made in a little over a year.
Gene K. Balzer, Chief Executive Officer of Biotronic NeuroNetwork commented, “We believe that the substantial underlying synergies between Biotronic and Neurophysiology Consultants will provide NPC’s client hospitals with even higher quality services through the ability to rely on a provider with a comprehensive set of services through the addition of Biotronic’s remote monitoring capabilities which will augment the existing current on-site monitoring.”
“We simply couldn’t have found a better partner than Biotronic. They have first-in-class IONM services with a trusted name and care deeply about their employees and their customers. In addition, this transaction will provide NPC with solid financial backing, continued access to leading technology, and the organizational infrastructure to provide higher quality and more extensive services to our current and future customers,” said Robert Hankey, Founder and Managing Member of Neurophysiology Consultants.
Founded in 1978, Biotronic NeuroNetwork, is headquartered in Ann Arbor, MI and currently employs over 200 administrative, support and clinical staff, including over 150 technicians throughout 17 states. Biotronic is the largest independent provider of intraoperative neurophysiological monitoring in the world, serving over 400 hospitals and 1,200 surgeons annually. www.biotronic.com
About Great Point Partners, LLC
GPP, based in Greenwich, CT, is a leading health care investment firm with approximately $600 million of equity capital under management. The firm manages capital in public and private equity funds. Great Point Partners has provided growth equity and growth recapitalization 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 Partners 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.