Private Equity Firm President Joins Covalon Board of Directors

Covalon Technologies Ltd., an advanced medical technologies company, announced that Amir Boloor has joined its Board of Directors.
 
Covalon CEO Brian Pedlar said, “I am delighted that Amir Boloor has agreed to join Covalon’s Board. Amir has been a significant long-time Covalon shareholder and he has much to offer us in terms of advice and counsel.”
 
Boloor is president of Caspian Equity Partners Inc. of Vancouver, British Columbia, a private investment firm he founded in 2012. He has specialized in helping entrepreneurs accelerate growth and optimize performance, while propelling long-term profitability and value.
 
Prior to founding Caspian Equity Partners, Boloor held various positions in the Mergers & Acquisitions and Diversified Investment Banking groups of TD Securities Inc. where he advised boards and executive teams of mid-market and large-cap companies on numerous strategic review mandates, initial public offerings, mergers, acquisitions, divestitures, corporate restructures, leveraged buyouts, and takeover defenses.
 
Boloor earned a bachelor of commerce degree in finance (with honors) from the University of British Columbia. He is a chartered financial analyst from the CFA Institute.
 
Boloor’s appointment to Covalon’s Board of Directors is subject to TSX approval.

Boloor said, “I have been an avid follower and investor in Covalon for several years. Covalon has several impressive technology platforms that are still in their early stages of monetization. I believe that Covalon has great potential to achieve much more both in the lucrative American and international markets. I look forward to assisting wherever I can.”
 
Earlier this month, Covalon was granted key antimicrobial patents by the U.S. Patent and Trademark Office (USPTO), the Canadian Intellectual Property Office (CIPO), and the European Patent Office (EPO). 
 
Covalon’s Antimicrobial Silicone-based Wound Dressing patent was granted by the USPTO, in Canada by the CIPO, and in Europe by the EPO. This antimicrobial patent is integral to the company’s CovaClear platform technology and the company’s IV Clear, MediClear PreOp, and SurgiClear products.
 
The USPTO also granted the company a patent for a method for the reduction of microbial skin flora, which protects the company’s novel product MediClear PreOp. MediClear PreOp is indicated for use as a pre-operative drape that provides continuous antimicrobial activity to reduce the risk of contamination of the skin prior to a surgical procedure.
 
“This is a major accomplishment to protect the only dual-antimicrobial silicone adhesive technology on the market,” said Pedlar. “We are very pleased to see that the United States, Canadian, and European patent offices have all recognized  Covalon’s  innovations in antimicrobial technologies through the granting of these patents. Protecting patients from infection during hospital procedures is a significant growth opportunity and these patents solidify Covalon’s advantage in this market.”
 
IV Clear is the only dual-antimicrobial fully transparent silicone vascular access dressing on the market. The patented technology incorporates chlorohexidine and silver into the entire surface area of the adhesive, ensuring the greatest area of coverage and protection from bacterial migration by preventing regrowth of microorganisms most commonly associated with CRBSI’s (catheter-related bloodstream infections) for up to seven days. 
 
MediClear PreOp is a novel self-adherent dual-antimicrobial film indicated for use as a pre-operative drape that kills, on average, 99.99 percent of microorganisms in just 30 minutes, while also physically isolating the site from external contaminants, ensuring complete site protection leading up to surgery. MediClear PreOp is designed to be applied by the patient or a clinician prior to a surgical procedure and removed in the operating room just before surgery. 
 
SurgiClear is a post-surgical dressing designed to protect patients during recovery. This dual-antimicrobial dressing is applied over a closed surgical wound to provide barrier protection to external contaminants, full visibility of the healing site, and full-surface antimicrobial coverage to protect the patient from bacterial regrowth for up to seven days. The soft silicone technology conforms extremely well to the contours of the skin, allowing for better mobility during recovery without sacrificing antimicrobial protection.