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Great Point Partners I Sells Portfolio Company – Biotronic NeuroNetwork
Introduction
GREENWICH, CT and ANN ARBOR, MI — Biotronic NeuroNetwork, a Great Point Partners I (GPP I) portfolio company, today announced that it has been acquired by NuVasive for $98 million in cash.
Rohan Saikia, a Principal at GPP stated, “We are very proud of the business we have built along with Bill Gecsey, CEO and the entire Biotronic team. During our partnership, we led a number of organic and inorganic initiatives which grew EBITDA at a compounded annual growth rate in excess of 12.5%, including driving operational improvements, sourcing tuck-in acquisitions, performing debt refinancing and a dividend recapitalization.”
William Gecsey, President and Chief Executive Officer of Biotronic said, “Great Point was a hardworking and dedicated partner for Biotronic that was very accessible to us. They sourced inorganic opportunities, helped recruit a top-flight management team and provided generous economic participation for the team associated with our growth and profitability.”
“For more than 35 years, the team at Biotronic has built a phenomenal business focused on providing the highest quality of intraoperative neural monitoring services designed to provide patient safety and deliver economic benefit for hospitals and surgeons. I am confident that the combination with NuVasive will further build out service offerings that drive improvements in patient care.”
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 $900 million of equity capital under management and 28 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 $450 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 NeuroNetwork
Founded in 1978, Biotronic NeuroNetwork is headquartered in Ann Arbor, Michigan and currently employs over 350 administrative, support and clinical staff, including over 300 technicians throughout the country. Biotronic is the largest independent provider of intraoperative neurophysiological monitoring in the world. www.biotronic.com.