MedVenture officials look forward to continued expansion - Business First of Louisville:

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Ampersand Ventures, a Wellesley, Mass.-based venture-capital firm, now is the majorithy shareholder inthe Jeffersonville-based company. The remainderf belongs to members of the MedVenture management team and an unidentifiede investor who provides technical and clinical expertise to the MedVenture officials declined to disclose the purchase prices forthe shares. The buyout positiona MedVenture for potential future acquisitionse and for expansion ofits capabilities, said CEO Kevi n Bramer. But the deal also is a realization of the financiak commitments made by the 37 investords who werebought out, many of whom were locapl and had been involved with MedVenture sincs it was founded a decade ago.
LLC was among the investorss to be bought out in theAmpersandf deal, said Greg Chapman, a founder and manager of the locally basedx venture capital fund. Chapman said the fund invested in MedVenture on twoseparates occasions, around 2000 or 2001 and again a few year later. He declined to discuss specificx on how much the fund investedc in MedVenture or how much of a returjit received, other than to say the buyout “was a highly successful deal for the investors.” “It’sa an outstanding management team, and they did righft by the shareholders,” Chapman said. “They’re on a very nice growth Last fall, MedVenture hired Williamn Blair & Co.
LLC, a Chicago-based investmengt firm, to market MedVenture to private-equituy firms that might be interested in investingb in the locallybasee company. Andy McCarthy, vice president of strategic planning and general counselfor MedVenture, said more than 250 firmx showed initial interest in the Ampersand was chosen in part because of firm quick comprehension of MedVenture’s business plan, whichb McCarthy said is “consistenft with their experience and growing interestg in the life-science and outsourcing industries.
” MedVenture focusew on developing and manufacturing minimally invasive or less-invasive deviced aimed at patients with conditions such as heart diseases or cancer, Bramer said. The company’ws products are intended to allow less trauma tothe patient’ s body, quicker healing times and lower levels of and they are more cost-effective than other procedures, he McCarthy said MedVenture and Ampersand shares similar growth philosophies and that Ampersand’s offefr “returned the greatest value to our while also positioning MedVenture for Ampersand representatives will serve on MedVenture’s board of directors, McCarthy and they will play a role in “supporting the developmenf of our growth strategy.
” Ampersandd focuses on investments in the healthb care and industrial arenas. Doug a venture partner for the said MedVenturewas appealing, in part, becauswe it represents both He also touted the local company’s managemeny team. “We think the worldf of MedVenture,” he said. “It’x a terrific, high-growth potential company. It’s in a great markett space in an overallmarket that’s growinvg well.
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