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Ventizz Capital Partners and MEDOS Medizintechnik AG announce agreement to buy Gish Biomedical Inc.
06 July 2007
The private equity advisory firm Ventizz Capital Partners and MEDOS Medizintechnik AG, the developer and manufacturer of medical devices for cardiac surgery, extracorporeal membrane oxygenation (ECMO), and Ventricle Assist Devices (VAD), announced today that Medos has signed an agreement to buy Gish Biomedical Inc., a subsidiary of CardioTech International Inc. (AMEX: CTE), a developer and manufacturer of advanced materials and medical devices for the treatment of cardiovascular and other devices.
Dr. Thomas Theisen, Chief Sales Officer MEDOS, said: “The acquisition of Gish represents an excellent opportunity to achieve a significant position in the US market for disposable medical products used in cardiopulmonary surgery. Buying Gish also provides a solid platform for selectively introducing MEDOS’ innovative products from the ECMO and VAD product lines to the US market using the well respected Gish brand. MEDOS has the structure to capitalize on combining two strong R&D programs in the global medical device marketplace.”
Commenting on the agreement with MEDOS, President and CEO Michael Adams, CardioTech, said: “The acquisition of Gish provides MEDOS with an excellent opportunity to enter the US market.”
Ventizz Capital Fund III Holding Company LL.C., the sole shareholder of MEDOS Medizintechnik AG, will support the acquisition with further growth capital. Reinhard Löchner, Managing Partner of Ventizz and Chairman of the MEDOS supervisory board: “The acquisition of GISH is a crucial step forward for MEDOS AG. The ambitious plans of the new board of MEDOS AG can only be achieved within the planned timeframe by complementary acquisitions are achievable within the planned timeframe only by complementary acquisitions. The opportunity to get access to the US market means a significant progress for MEDOS in achieving its goal of increasing revenues to € 100 Mio.”
About Ventizz Capital Partners:
Düsseldorf-based Ventizz Capital Partners was established in 2000 and is advising funds, which are investing in buy-outs and growth equity for small and medium sized high-tech companies in Western Europe. The three Managing Partners of Ventizz, Dr. Helmut Vorndran, Reinhard Löchner and Willi Mannheims, are currently advising three funds with a total capital under management of € 220 million. To date, Ventizz funds have invested in 28 companies with a special focus in renewable energy/solar energy, high value add engineering, medical technology and ICT. Next to a variety of trade sales Ventizz has achieved three very successful IPOs. For further information see: www.ventizz.com
Further information:
VENTIZZ Capital Partners Advisory AG
Reinhard Löchner
Managing Partner
Tel.: +49 – (0)211 – 862 869 – 0
E-mail: r.loechner@ventizz.de
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