Tag Archives: healthcare

KKR Agrees Sale of LGC to Cinven and Astorg

KKR

LONDON–(BUSINESS WIRE)–Nov. 21, 2019– KKR, a leading global investment firm, announces today it has agreed to sell LGC, a global leader in the Life Science Tools sector, to a consortium led by Cinven and Astorg. Financial terms of the transaction were not disclosed.

LGC provides a comprehensive range of measurement tools, proficiency testing schemes, supply chain assurance standards and specialty genomics reagents underpinned by leading analytical and measurement science capabilities. Its scientific tools and solutions form an essential part of its customers’ quality assurance procedures and enable organisations to develop and commercialise new scientific products and advance research. The company serves customers across a number of end markets, including human healthcare, agri-food and the environment. LGC’s revenue has risen to over £448m in 2019, with organic revenue growth accelerating to 10% pa since 2016.

Tim Robinson, CEO, LGC said: “Under KKR’s ownership, LGC has further built on its mission to deliver Science for a Safer World. Our company has extended its capabilities in the areas of chemical reference standards, clinical reference materials and controls, management system standards, oligo therapeutics and next-generation sequencing. We have achieved strong organic growth aided by investment in key sites in the UK, US, Germany and China and supplemented by a range of highly complementary acquisitions. We are delighted that Cinven and Astorg have chosen to partner with LGC for the next chapter of our history. Together we will continue to invest in serving our customers and supporting the development of our employees.”

Edouard Pillot, Member and EMEA Head of Industrials at KKR, said: “LGC is a good example of KKR’s successful approach in building great companies. We identified LGC as a strong and resilient business with significant potential for further growth, and worked alongside management to support them in harnessing this potential. Tim and the LGC team have done an outstanding job over the past 4 years building LGC into a global leader. We wish them every success during their next stage of growth.”

Kugan Sathiyanandarajah, Director in the Healthcare Industry Team and Head of Europe for the Healthcare Strategic Growth Fund, said: “In 2016, we saw significant potential to build a leading global life sciences tools platform across Standards and Genomics. Since then, we are delighted to have deployed the full range of KKR’s global platform and healthcare sector expertise to support the company to grow and enter new markets, particularly in the U.S. and Asia, both organically and inorganically.”

LGC has its headquarters near London, and employs over 3,200 employees across 22 countries.

-Ends-

For more information:

About LGC

LGC is a global leader in the Life Science Tools sector, which serves customers across a number of end markets, including human healthcare, agri-food & the environment. LGC provides a comprehensive range of measurement tools, proficiency testing schemes, supply chain assurance standards and specialty genomics reagents underpinned by leading analytical and measurement science capabilities. Its scientific tools and solutions form an essential part of its customers’ quality assurance procedures and enable organisations to develop and commercialise new scientific products and advance research.

LGC’s 3,200+ employees include internationally-recognised scientists who are experts in their field. Headquartered in London, it operates out of 22 countries worldwide and is extensively accredited to quality standards such as GMP, GLP, ISO 13485, ISO 17034, ISO 17043, ISO/IEC 17025 and ISO 9001.

LGC has been home to the UK Government Chemist for more than 100 years and is the UK National Measurement Laboratory and Designated Institute for chemical and bio measurement. LGC has been privately-owned since 1996 and has diversified through internal investment and acquisition to be an international leader in its chosen markets.

For more information, please visit www.lgcgroup.com

About KKR

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc. (NYSE:KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

Source: KKR

KKR:
Alastair Elwen
Finsbury
Phone: +44 (0) 20 7251 3801
Email: alastair.elwen@finsbury.com

LGC
Guenaelle Holloway
Phone: + 44 (0) 20 8943 7563
Email: guenaelle.holloway@lgcgroup.com

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Combinostic raises €3.9M round led by Industrifonden and NordicNinja

Industriefonden

November 21, 2019
Combinostic computer screen of brain scan

Today we are excited to announce that we are leading a €3.9M series A funding round in Finnish health tech pioneer Combinostics. Combionstics is a cloud platform for quantitative assessment of brain images and for providing clinical decision support in neurological disorders. It is used by healthcare professionals to accelerate Alzheimer diagnoses and bring forward the start of treatment.

The company joins a family of brilliant science based startups that are improving health outcomes globally by building category-leading products. This investment represents another step for our long-term commitment to health tech innovation and scale the impact of science for the benefit of society.

“Combinostics has built a product platform from cutting-edge research that will enhance neurology departments worldwide. Their platform supports improved diagnostic accuracy and treatment choice by combining all relevant biomarkers with advanced brain image quantification, leading to improved health in neurology patients”, says Patrik Sobocki, Investment Manager at Industrifonden and responsible for the Combinostic investment.

As there are no effective treatments for neurodegenerative diseases like Alzheimer’s, early-stage diagnosis combined with symptomatic treatment and lifestyle intervention can make a drastic difference to quality of life in later years. Combinostic SaaS-solution, cNeuro, is a data driven clinical decision support tool that fits the workflow of radiologists and neurologists or other doctors specialised in memory disorders.

We believe that Combinostics have what it takes to succeed on their mission to ensure that Alzheimer and other memory disorders can be diagnosed in the future, before any symptoms appear. We are very proud to welcome Combinostic to the family.

To read more about Combinostics, please visit https://www.cneuro.com/

 

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Nexstim Plc: Shares subscribed for in the directed share issue have been registered

Capricorn

Helsinki, Finland: 18 November 2019 – Nexstim Plc (NXTMH:HEX, NXTMS:STO) announced on 15 November 2019 that an aggregate of 15,687,350 new shares of Nexstim were subscribed for in the directed share issue. Such new shares have today been registered with the Trade Register.

Pursuant to the registration of the shares issued in the directed share issue with the Trade Register, the number of shares in the company is 61,599,912.

The trading of the new shares registered will begin approximately on 19 November 2019 in Nasdaq First North Growth Market Finland and approximately on 20 November 2019 in Nasdaq First North Growth Market Sweden.

More info on Nexstim‘s website.

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Mesa Labs Acquires Gyros Protein Technologies

LAKEWOOD, Colo., Oct. 31, 2019 (GLOBE NEWSWIRE) —  Mesa Laboratories, Inc. (NASDAQ:MLAB) (we, us, our, “Mesa” or the “Company”), a diversified supplier of quality control instruments and consumables to highly regulated markets today announced the acquisition of Gyros Protein Technologies Holding AB (“GPT”).  GPT is headquartered in Uppsala, Sweden and is a leading provider of Immunoassay and Peptide Synthesis solutions that accelerate the discovery, development and manufacturing of biotherapeutics.  The acquisition deepens our commitment to biopharmaceutical quality control and will be the core of our new platform, Biopharmaceutical Development.  We acquired GPT from AP6 (Sixth Swedish National Pension Fund), Ampersand Capital Partners and various individual shareholders.

The acquisition price for GPT consisted of cash consideration of $180 million, subject to purchase price adjustments.  The acquisition is expected to add between $37 million to $40 million of revenues during the first 12 months (of which approximately 55% is recurring in nature), deliver double digit organic revenues growth over the next several years and excluding the impact of purchase accounting, generate gross profit margin percentages in the mid to high 60’s.   Additionally, excluding the impact of purchase accounting and integration expenses, we expect adjusted operating income as a percentage of revenues to be in the mid-teens for the first 12 months.  Revenues for the remaining five months of FY20 are expected to be $13 million-$15 million.

“GPT brings an innovative approach to protein analytics in biopharmaceutical quality control and process development.  The Gyrolab immunoassay solution is a proven, microfluidic driven platform that increases repeatability and throughput while minimizing sample size and manual handling.  The company also provides a leading peptide synthesis platform delivering the highest quality peptides in particular, for the longer and more complicated sequences that are of vital interest to many applications, including that of therapeutic peptides and neoantigen therapies. We believe that The Mesa Way approach to continuous improvement will help the GPT team to continue to rapidly scale both commercially and operationally” said Gary Owens, President and Chief Executive Officer of Mesa.

Dan Calvo, President of GPT, added “We are proud of the track record we have improving the processes for developing biotherapeutics.  Superior technology backed by deep customer intimacy has been the foundation of our success and we felt the same spirit of innovation at Mesa.  We look forward to working with the Mesa team to expand the applications we deliver and deepening our level of customer support.”

Jefferies LLC acted as the exclusive financial advisor to GPT.

For more detail, reference the Mesa Acquisition of GPT presentation in the Investor Relations section of Mesa’s website at mesalabs.com.

About Mesa Laboratories, Inc.

Mesa is a global technology innovator committed to solving some of the most critical quality control challenges in the pharmaceutical, healthcare, industrial safety, environmental and food and beverage industries.  Mesa offers products and services through five divisions (Sterilization and Disinfection Control, Biopharmaceutical Development, Instruments, Cold Chain Monitoring and Cold Chain Packaging) to help our customers ensure product integrity, increase patient and worker safety, and improve quality of life throughout the world.

Non-GAAP Financial Measure In this release, we refer to non-GAAP financial measure adjusted operating income (“AOI”) which is defined to exclude the non-cash impact of amortization of intangible assets, stock-based compensation expense, and impairment loss on goodwill and long-lived assets. We are unable to provide a reconciliation of forward-looking AOI because components of the calculation are inherently unpredictable and currently unknown.

Forward Looking Statements This press release may contain information that constitutes “forward-looking statements.” Generally, the words “believe,” “estimate,” “intend,” “expect,” “project,” “anticipate,” “will” and similar expressions identify forward-looking statements, which generally are not historical in nature. However, the absence of these words or similar expressions does not mean that a statement is not forward-looking. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future — including statements relating to revenues growth and statements expressing general views about future operating results — are forward-looking statements. In addition, forward-looking statements include statements in connection with the ability to successfully integrate the businesses, risks related to disruption of management time from ongoing business operations due to the acquisition of GPT, the risk that any announcements relating to the transaction could have adverse effects on the market price of Mesa Labs’ securities, the risk of any unexpected costs or expenses resulting from the transaction, the risk of any litigation relating to the transaction, the risk that the transaction and its announcement could have an adverse effect on the ability of Mesa Labs and GPT to retain customers and retain and hire key personnel and maintain relationships with their suppliers and customers and on their operating results and businesses generally, the risk that the combined company may not operate as effectively and efficiently as expected, the risk that the combined company may be unable to achieve synergies or other anticipated benefits of the transaction or that it may take longer than expected to achieve those synergies or benefits and other important factors that could cause actual results to differ materially from those projected.   Management believes that these forward-looking statements are reasonable as and when made. However, caution should be taken not to place undue reliance on any such forward-looking statements because such statements speak only as of the date when made. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. In addition, forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from our historical experience and present expectations or projections. These risks and uncertainties include, but are not limited to, those described in our Annual Report on Form 10-K for the year ended March 31, 2019, and those described from time to time in our subsequent reports filed with the Securities and Exchange Commission.

For more information about the Company, please visit its website at mesalabs.com

CONTACT:
Gary Owens.; President and CEO, or
John Sakys; CFO, both of Mesa Laboratories, Inc.,
+1-303-987-8000

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IK in exclusive discussions with Dentressangle regarding the sale of Marle

ik-investment-partners

IK Investment Partners (“IK”) is pleased to announce that the IK VII Fund (“the Fund”) has entered into exclusive negotiations with Dentressangle regarding the sale of Marle International SAS (“Marle” or “the Company”), a leading European manufacturer of orthopaedic implants. The transaction remains subject to the information and consultation process of the relevant employee representative bodies in accordance with applicable laws and to the approval of the competent antitrust authorities.

Founded in 1964, Marle has grown to become a leading manufacturer of hip and knee implants and instruments for the orthopaedic industry. Covering the full value chain, including prototyping, forging, casting and finishing, Marle acts as a strategic partner to medical technology companies worldwide, producing 1.5 million implants annually. The Company operates six production sites in France and Switzerland and employs c. 750 FTEs.

Rémi Buttiaux, Partner at IK Investment Partners and advisor to the IK VII Fund, says: “Under the leadership of Antonio Gil and IK’s active ownership, Marle has completed a strategic acquisition in Switzerland and has grown substantially in North America and Asia. The Company has also further strengthened its array of capabilities and services in line with its long-term commitment to be the partner of choice for its clients.”

Antonio Gil, President at Marle, says: “I would like to thank IK for their active support over the last three years which has enabled Marle to reinforce its capabilities. We are enthusiastic about Marle’s long-term growth potential and are convinced that Dentressangle is the right partner to accompany us in the next phase of our development.”

Thierry Coloigner, Managing Partner at Dentressangle Mid & Large Cap, says: “We are privileged to partner with Marle. The company has an exciting future ahead of it and we look forward to supporting the management team in realising its long-term ambition for the Company by offering increasingly higher value-added services to its clients and pursuing targeted acquisitions.”

Parties involved on the transaction

Buyside
DENTRESSANGLE: Thierry Coloigner, Olivier Verdet, Charles Wacheux Camille Dussaix
M&A Advisors: Messier Maris (Erik Maris, Driss Mernissi, Laura Scolan), Wil Consulting (Jacques Ittah)
Legal Advisor: Bredin Prat (Olivier Assant, Adrien Simon, Karine Sultan)
Strategic Due Diligence: Bain & Company (Jean-Marc Leroux, David Gautard)
Financial Due Diligence: Eight Advisory (Stéphane Vanbergue, Christophe Puissegur)
Tax Due Diligence: Eight Advisory Avocats (Guillaume Rembry, Baptiste Gachet)
Legal Due Diligence: Simmons & Simmons (Guillaume Denis-Faure, Simonetta Giordano)
Financing: Capza (Laurent Bénard, Guillaume de Jongh, Oriane Mizrahi, Sabine Barral)

Sellside
IK Investment Partners: Rémi Buttiaux, Dan Soudry, Vincent Elriz, Guillaume Veber
Carlyle Europe Technology Partners: Vladimir Lasocki, Charles Villet
M&A Advisor: Natixis Partners (Francois Rivalland, Julien Plantive)
Legal Advisors: DLA Piper (Xavier Norlain, Aymeric Robine), Willkie Farr Gallagher (Eduardo Fernandez)
Strategic Due Diligence: BCG (Benjamin Entraygues, Florian Kahn, Chloé Caparros)

For further questions, please contact:

IK Investment Partners
Rémi Buttiaux, Partner
Phone: +33 1 44 43 06 60

Mikaela Murekian, Director Communications & ESG
Phone: +44 77 87 573 566
mikaela.murekian@ikinvest.com

Marle and DENTRESSANGLE
DGM
Thomas Roborel de Climens: thomasdeclimens@dgm-conseil.fr

About IK Investment Partners
IK Investment Partners (“IK”) is a Pan-European private equity firm focused on investments in the Nordics, DACH region, France, and Benelux. Since 1989, IK has raised close to €10 billion of capital and invested in over 125 European companies. IK funds support companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit www.ikinvest.com

About Marle
Marle has a 40-year track record serving the orthopaedic implant industry and specialises in the precision forging, machining and finishing of hip, knee, shoulder, spine and extremities implants as well as instruments. It has acquired and developed a wide span of technologies dedicated to the medical industry and now offers one of the most comprehensive ranges of manufacturing services in the orthopaedics market. For more information, visit www.marle.fr

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Apax Funds launch GamaLife with GNB Vida acquisition

Apax

London and Lisbon, 14 October 2019: GamaLife, a new European life and wealth consolidation platform, launches today with the acquisition of GNB – Companhia de Seguros de Vida, S.A. (“GNB Vida”) from Novo Banco Group (“Novo Banco”) in Portugal.

GamaLife, backed by funds advised by Apax Partners, intends to build on its acquisition of GNB Vida as the start of a wider consolidation strategy in the life insurance market. Led by Matteo Castelvetri, Group CEO, GamaLife was set up with a view to transform traditional life insurance companies via a forward-thinking approach whereby technological innovation and focus on both transparency and service take a primary role. GamaLife’s acquisition strategy will focus on businesses with high turnaround potential and ability to benefit from cross-border best practices, whilst keeping central functions nimble.

Headquartered in Lisbon, GNB Vida offers protection, savings and retirement products distributed through Novo Banco’s 401 branches. The transaction will see GamaLife relaunch the product and distribution offering of GNB Vida with a view to becoming a true leader in the Portuguese insurance market thanks to a new long-term exclusive distribution agreement with Novo Banco. In doing so, GNB Vida will look to accelerate new product focus, in turn developing innovative solutions for the benefit of its end customers. GNB Vida is delighted to continue its relationship with Novo Banco and partner on this trajectory of accelerated growth.

Mr. Castelvetri said: “We are excited to launch GamaLife and believe Apax are an excellent partner to help us create an innovating pan-European life and wealth platform. We are delighted to complete our first acquisition in GNB Vida and enter the fast-growing Portuguese market. We believe that the combination of Novo Banco’s strong franchise and market position, together with our focus on new products and solutions, will bring substantial benefits to Novo Banco’s 1.3 million customers.”

Frank Ehmer, Partner at Apax Partners, said: “We have been proactively targeting the life insurance and wealth management markets for a number of years. We are excited to back Matteo and his team to grow the GamaLife platform, both organically and through further consolidation of the European market. In doing so, we are pleased to have the opportunity to help cement GNB Vida’s position as a market-leading life insurance partner for Novo Banco.”

About GamaLife

GamaLife is a pan-European life and wealth management platform founded in 2019 and focused on technology and sustainability. GNB Vida, which is regulated by the Autoridade de Supervisão de Seguros e Fundos de Pensões, held total assets of EUR 5.1 billion and total equity of EUR 391 million as of June 2019. For more information see: www.gamalife.com.

About Apax Partners

Apax is a leading global private equity advisory firm. Over its more than 40-year history, Apax Partners has raised and advised funds with aggregate commitments of c.USD 50 billion. The Apax Funds invest in companies across four global sectors of Tech & Telco, Services, Healthcare and Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. For more information see: www.apax.com.

Media Contacts: 

For Apax Partners

Global Media: Andrew Kenny, Apax | +44 20 7 872 6371 | andrew.kenny@apax.com

USA Media: Todd Fogarty, Kekst CNC | +1 212-521-4854 | todd.fogarty@kekstcnc.com

UK Media: James Madsen / Matthew Goodman, Greenbrook | +44 20 7952 2000 | apax@greenbrookpr.com

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Apax Funds and consortium partners complete sale of Acelity to 3M for $6.725 billion

Apax

Completion of transaction marks end of highly successful collaboration with management team to transform Acelity into a global medical device leader

San Antonio and New York, October 11, 2019: Funds advised by Apax Partners together with consortium partners Canada Pension Plan Investment Board and the Public Sector Pension Investment Board, today announced the completion of the sale of Acelity and its KCI subsidiaries to 3M for $6.725 billion.

Apax Funds and consortium partners complete sale of Acelity to 3M for $6.725 billion

Since 2011, Apax and its consortium partners worked to reshape Acelity from a loose collection of businesses into a focused global leader. This was achieved through a strategic M&A program which included targeted acquisitions as well as the disposals of non-core businesses. In addition, a range of activities were undertaken to accelerate organic growth, including investments in R&D, medical education, clinical studies, and the expansion of its sales force. The result of these initiatives transformed Acelity into the world’s largest wound care company focused on advanced wound care, including negative pressure wound therapy.

Steven Dyson and Arthur Brothag, Partners at Apax Partners, said, “We are proud of our work with Acelity and our consortium partners. In many ways, this transaction represents what Apax seeks to achieve: namely, developing a high conviction thesis through sub-sector insights, forming a strong partnership with a talented management team, and working together to transform a business to become the global leader in its space. We wish Acelity well and look forward to watching the company continue to thrive under new ownership.”

R. Andrew Eckert, CEO of Acelity during the ownership of the Apax Funds and its consortium partners, said: “It has been a pleasure to work with Apax and its consortium partners. They have demonstrated a very strong understanding of our space and helped us reshape our business and invest to capture significant growth. It’s incredibly fulfilling to reflect on the rapid expansion in innovation and new products Acelity has delivered to the marketplace in this time. I especially want to recognize the Acelity workforce for their dedication to improving patients’ lives worldwide in bringing these new therapies forward.”

About Apax Partners

Apax Partners is a leading global private equity advisory firm. Over its more than 40-year history, Apax Partners has raised and advised funds with aggregate commitments of c.$50 billion. The Apax Funds invest in companies across four global sectors of Healthcare, Tech & Telco, Services, and Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. For more information see: www.apax.com.

In Healthcare, the Apax Funds have invested c.$8 billion of equity across medical devices, pharmaceuticals, healthcare services and healthcare IT. Within the medical devices sub-sector, the Apax Healthcare team has partnered with a variety of businesses such as Mӧlnlycke, Vyaire Medical, Candela and Healthium to create strategic leaders in their space.

Media Contacts

Global Media: Andrew Kenny, Apax | +44 20 7 872 6371 | andrew.kenny@apax.com

USA Media: Todd Fogarty, Kekst CNC | +1 212-521 4854 | todd.fogarty@kekstcnc.com

UK Media: Matthew Goodman, Greenbrook | +44 20 7952 2000 | apax@greenbrookpr.com

Notes to Editors

London-headquartered Apax Partners (www.apax.com), and Paris-headquartered Apax Partners (www.apax.fr) had a shared history but are separate, independent private equity firms.

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Baird Capital and Council Capital Exit emids

Baird Capital

Baird Capital and Council Capital Exit emids

NASHVILLE, TN – September 26, 2019 – Council Capital, a healthcare-focused private equity firm based in Nashville, and Baird Capital, the direct private investment arm of Baird based in Chicago, announced today that they have sold their stakes in emids to New Mountain Capital. Terms of the transaction were not disclosed. Both firms initially invested in emids in 2013.

emids is a global provider of technology services and solutions for healthcare payers and providers. The company’s services include consulting, custom application development, and data solutions that support EHR application deployment and management, analytics, data integration and governance, software development and testing, and business intelligence. emids is headquartered in Nashville.

Since 2013, emids has grown exponentially by expanding its offerings, growing its customer base, and acquiring Encore Health, which expanded its coverage in the provider market. emids’ success has been reinforced by its outstanding team, who are responsible for emids consistently achieving strong KLAS ratings – the standard for assessing vendor quality in the healthcare market.

“We sincerely enjoyed partnering with the team at emids and are excited for the company to continue its growth,” said Grant Jackson, Managing General Partner at Council Capital. “emids is well positioned to continue to capitalize on the tremendous opportunities within the healthcare information technology services sector, and we are confident that the company will continue to thrive in partnership with New Mountain Capital.”

“We consider ourselves fortunate to have worked with emids and its talented leadership team over the last six years,” said Jim Pavlik, Partner at Baird Capital. “We are proud of emids’ growth and leadership in enabling digital transformation in the healthcare industry and are excited about the company’s opportunity to drive further innovation and value for its clients in its next phase of growth.”

Saurabh Sinha, Founder and CEO of emids, added, “We have appreciated our partnership with Council Capital and Baird Capital over the last six years. Fast-growing companies don’t have trouble accessing capital. What I needed was access to proven company builders who share best practices, open doors to fuel growth and are people I trust to have the company’s best interests at heart. Both Council and Baird delivered on this for us.”

About Baird Capital

Baird Capital makes venture capital, growth equity and private equity investments in strategically targeted sectors around the world. Having invested in more than 300 companies over its history, Baird Capital partners with entrepreneurs and, leveraging its executive networks, strives to build exceptional companies. Baird Capital provides operational support to its portfolio companies through teams on the ground in the United States, Europe and Asia, a proactive portfolio operations team and a deep network of relationships, which together strive to deliver enhanced shareholder value. Baird Capital is the direct private investment arm of Robert W. Baird & Co. Incorporated. For more information, please visit BairdCapital.com.

About Council Capital

Council Capital is a healthcare-focused private equity firm based in Nashville, Tennessee. Council Capital invests in lower middle market healthcare-related companies where it can drive growth by applying its Council Model, which draws upon the resources and experience of its CEO Council (experienced industry executives), Strategic Healthcare Investors, and Shared Portfolio Executives. Council Capital leverages its Council Model to attract and support leading management teams and portfolio companies on the ‘right side’ of change in the healthcare industry – where growth will accelerate as cost pressure and quality demands increase. Council Capital targets control and minority investments with enterprise values between $10 million and $50 million. For more details, please visit www.councilcapital.com.

About emids

emids is a global provider of healthcare technology expertise and consulting services and solutions that serves payers, providers and tech enablers. Headquartered in Nashville, emids helps bridge the critical gaps in accessible, affordable, high-quality healthcare by providing advisory consulting services, custom application development and data solutions. Services include EHR application deployment and management, analytics, data integration and governance, software development and testing, and business intelligence. Visit www.emids.com.

Baird Capital

414-298-5101
www.bairdcapital.com

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Dyne Therapeutics announces appointment of Joshua Brumm as President and Chief Executive Office

Forbion

in portfolio news

Industry veteran brings extensive experience leading biotech companies through periods of growth.

WALTHAM, Mass.– Dyne Therapeutics, a biotechnology company pioneering targeted therapies for patients with serious muscle diseases, today announced the appointment of Joshua Brumm as President and Chief Executive Officer.

“Josh brings extraordinary skills and experience to further our mission of creating life-transforming therapies for patients with serious muscle diseases,” said Jason Rhodes, partner with Atlas Venture and Dyne founder and executive chairman of the board of directors. “This positions us strongly to pursue the next phase of growth and product development, and we are thrilled to have him joining us.”

“Dyne’s FORCE therapeutic platform achieves a unique combination of tissue-specific delivery, high potency and tolerability to enable a broad product pipeline,” said Joshua Brumm. “I look forward to working closely with the board and talented team at Dyne to maximize the potential of our platform by advancing our pipeline and exploring new partnerships.”
“On behalf of everyone here, I am excited to welcome Josh,” said Romesh Subramanian, Dyne founder and chief scientific officer. “We look forward to working together to realize the therapeutic power of oligonucleotides for patients with rare muscle diseases and fulfilling Dyne’s mission.”

Prior to joining Dyne, Mr. Brumm served as chief operating officer and chief financial officer of Kaleido Biosciences, where he led the company’s financings including its initial public offering and helped bring the lead program into Phase 2 development. Prior to joining Kaleido, Mr. Brumm was COO and CFO at Versartis, where he oversaw the company’s financial strategy including the successful completion of its IPO, played an integral role in product strategy, and helped negotiate the company’s first product partnership. His previous roles include serving as executive vice president of finance and principal financial officer at Pharmacyclics; CFO at ZELTIQ Aesthetics, where he led the company through its initial public offering, led the international product launch for CoolSculpting and also served in corporate development; and director of finance at Proteolix, Inc., assisting in the sale of the company to Onyx Pharmaceuticals. He also held investment banking roles at Citigroup Global Markets, Inc. and Morgan Stanley. Over the course of his career, Mr. Brumm has raised approximately $1 billion in capital. In 2014, he was named Silicon Valley Business Journal’s CFO of the Year for companies under $500 million. He holds a B.A. in business administration from the University of Notre Dame.

About Dyne Therapeutics
Dyne Therapeutics is pioneering life-transforming therapies for patients with serious muscle diseases. The company’s FORCE™ platform delivers oligonucleotides and other molecules to skeletal, cardiac and smooth muscle with unprecedented precision to restore muscle health. Dyne is advancing treatments for myotonic dystrophy type 1 (DM1), Duchenne muscular dystrophy (DMD), and facioscapulohumeral muscular dystrophy (FSHD). Dyne was founded in 2018 and is based in Waltham, Mass.

For more information, please visit www.dyne-tx.com.
Media Contact Ten Bridge Communications Max Stendahl, 508-277-8117 max@tenbridgecommunications.com

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Mainstay Medical announces acceptance for filing by US FDA of Pre-Market Approval (PMA) Application for ReActiv8

Capricorn

Dublin, Ireland: 1 October 2019 – Mainstay Medical International plc (Euronext Paris: MSTY.PA and Euronext Growth of Euronext Dublin: MSTY.IE), a medical device company focused on bringing to market ReActiv8®, an implantable neurostimulation system to treat disabling Chronic Low Back Pain, today announces that the U.S. Food and Drug Administration (FDA) has accepted for filing the Company’s Pre-Market Approval (PMA) application for ReActiv8.

Mainstay submitted the PMA to the FDA in August. Per regulation, the FDA will notify the applicant whether the PMA has been accepted for filing within 45 days after submission. By accepting the Company’s PMA for filing, the FDA has made a threshold determination that the application is sufficiently complete to begin an in-depth review. Mainstay continues to expect a decision on approval around the end of 2020.

More information on Mainstay’s website.

 

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