August 21, 2008
GREENWICH, CT and ANN ARBOR, MI – Great Point Partners, LLC, a Greenwich-based private investment firm focused on the health care industry, announced today the growth recapitalization of the Biotronic NeuroNetwork (“Biotronic”). Founded in 1978 and headquartered in Ann Arbor, MI, Biotronic is the leading independent national provider of intra-operative neurophysiological monitoring services.
The Company utilizes advanced electrophysiological modalities to monitor and record the functional integrity of critical neural structures (brain, nerves, and spinal cord) in real-time during surgeries such as neurosurgical, spinal, vascular, cardiothoracic, orthopedic and other complex procedures where these structures potentially could be at risk.
As part of their investment, Great Point Managing Directors Adam B. Dolder and Jeffrey R. Jay, MD, will join Biotronic’s Board of Directors along with Gene K. Balzer, Ph.D., Biotronic’s CEO, H.B. Calder, Ph.D., the Company’s original founder and Kevin Clark, Founder and CEO of Onward Healthcare.
Dr. Calder stated, “We received dozens of inquiries from private equity firms over the past couple of years but the Great Point Partners team presented a differentiated value-add proposition for the Company. They not only had a clear command of our business and marketplace but also brought a depth of health care experience that will accelerate our pace of growth and strategic development.”
“We are thrilled at the opportunity to partner with Drs. Calder and Balzer in this investment and look forward to helping the team expand its market presence through rapid organic growth and an intelligent acquisition strategy,” said Adam B. Dolder of Great Point. Dr. Jeffrey Jay added, “The investment in Biotronic enables Great Point to partner with an outstanding management team in a market leading company which operates in a high growth sector. We thoroughly believe in the value proposition that the Company provides to patients, physicians and payors.”
Founded in 1978, Biotronic NeuroNetwork, and its predecessor entities, provides intraoperative neurophysiological monitoring services. The Company utilizes advanced electrophysiological modalities to monitor and record the functional integrity of critical neural structures (brain, nerves, and spinal cord) in real-time during surgeries such as neurosurgical, spinal, vascular, cardiothoracic, orthopedic and other complex procedures where these structures potentially could be at risk. Biotronic is headquartered in Ann Arbor, MI.
About Great Point Partners, LLC
Great Point Partners, LLC is a leading health care investment firm with approximately $700 million of equity capital under management. Great Point has provided growth equity, recapitalization and management buyout financing to more than 100 health care companies. Currently, the firm manages capital in both public equity and private equity funds. 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.
This document is intended solely to provide information regarding Great Point Partners’ potential financing capabilities for prospective portfolio companies.