CUPERTINO, Calif., Aug. 21, 2017 (GLOBE NEWSWIRE) -- Cagan McAfee Capital Partners and seasoned investor/operator, Myles Sherman of Austin, TX, have teamed up to acquire Minimally Invasive Devices (MID). Laird Cagan, will be Chairman/CEO and Myles Sherman will be a hands-on board member. MID founder, Dr. Wayne Poll, will continue with the new company to be called FloShield, Inc.
Laird Cagan is Managing Director and co-founder of Cagan McAfee Capital Partners, LLC (CMCP), a private investment firm with a portfolio of companies in energy, clean tech, technology, fintech and healthcare. Myles Sherman is currently an owner/investor in 26 entities in various industries and sits on 7 boards as a Chairman or director.
This team is pleased to announce the acquisition of privately-held medical device company, Minimally Invasive Devices (MID), a market leading laparoscopic surgery solutions company, for an undisclosed sum. Objective Capital Partners, a leading M&A investment banking firm specializing in middle market M&A, healthcare & life sciences and valuation advisory services, served as exclusive advisor to MID for the transaction.
“We are pleased to have acquired MID and be working with founder, Dr. Wayne Poll, to build on the platform he and his team created,” stated Laird Cagan, “FloShield is the only product in the world that prevents a laparoscope from fogging inside the body, the #1 problem in laparoscopy”
Minimally Invasive Devices (MID), founded in 2006, developed a patented disposable laparoscopic sheath technology which substantially improves visual clarity, substantially decreases interruptions to remove and clean the scope, and protects scope optics from becoming dirty, thus making clear, continuous vision a new standard for laparoscopic procedures. MID has positioned its products in two classes in the form of its commercialized products: FloShield™ Air and FloShield™ Plus. The products are FDA and CE approved and have been sold throughout the US, Europe, Australia and parts of Asia.
About Cagan McAfee Capital Partners
Cagan McAfee Capital Partners, LLC (CMCP) is an established Silicon Valley-based private investment firm with a proven track record of being able to maximize the potential of high growth companies. When companies are at a strategic inflection point, having completed the initial development of their product and demonstrated clear market acceptance, we step in to provide the expansion stage venture capital and growth capital needed to help these companies reach their long-term goals. More information on CMCP can be found at http://www.cmcp.com/.
About FloShield, Inc. (formerly MID)
FloShield, Inc. develops laparoscopic visualization systems. It offers FloShield Air, which includes Vortex Barrier Technology that provides a continuous flow of dry carbon dioxide gas over the tip of the scope, instantly defogging it while continuously shielding it from condensation, debris, and smoke. The company also offers FloShield Plus that includes Vortex Barrier Technology, as well as Flo-X in situ, an intra-operative flush that can be used to clean a scope if it gets dirty during surgery. Its products are used in various surgical procedures, including general surgery, gynecology, oncology, bariatric, urology, cardio/thoracic, and transplantation. Minimally Invasive Devices, Inc. was incorporated in 2006 and is based in Columbus, Ohio. More information on MID can be found at http://floshield.com/.
About Objective Capital Partners, LLC
Objective Capital Partners is a leading M&A investment banking firm whose Principals have collectively engaged in more than 500 successful transactions serving the transaction needs of growth stage and mid-size companies. The executive team has a unique combination of investment banking, private equity, and business ownership experience that enables Objective Capital Partners to provide large enterprise caliber investment banking services to companies. The firm focuses on middle market M&A and capital raise activities for companies with enterprise values between $10-100 million, healthcare & life sciences and valuation advisory services. The firm’s industry expertise includes: software and hardware technology, life sciences, business services, IT services, healthcare services, biotech, consumer products and specialized manufacturing. Securities and investment banking services are offered through BA Securities, LLC Member FINRA, SIPC. Dr. Crean and other Principals of Objective Capital are Registered Representatives of BA Securities. Objective Capital Partners and BA Securities are separate and unaffiliated entities. Additional information on Objective Capital Partners is available at www.objectivecp.com.
Source:Objective Capital Partners;Cagan McAfee Capital Partners