Cagan McAfee Capital Partners09.01.17
Cagan McAfee Capital Partners and seasoned investor/operator Myles Sherman of Austin, Texas, have teamed up to acquire Minimally Invasive Devices (MID) for an undisclosed sum. Laird Cagan will be chairman/CEO and Sherman will be a hands-on board member. MID founder Dr. Wayne Poll will continue with the new company, which will be called FloShield Inc.
Cagan is managing director and co-founder of Cagan McAfee Capital Partners LLC, a private investment firm with a portfolio of companies in energy, clean tech, technology, fintech, and healthcare. Sherman is currently an owner/investor in 26 entities in various industries and sits on seven boards as a chairman or director.
Privately held Minimally Invasive Devices is a laparoscopic surgery solutions company. Objective Capital Partners, an M&A investment banking firm specializing in middle market M&A, healthcare and 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 its founder, Dr. Wayne Poll, to build on the platform he and his team created,” stated Cagan. “FloShield is the only product in the world that prevents a laparoscope from fogging inside the body, the number one problem in laparoscopy.”
Minimally Invasive Devices, 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 U.S. Food and Drug Administration- and CE approved and have been sold throughout the United States, Europe, Australia, and parts of Asia.
Cagan McAfee Capital Partners is an established Silicon Valley-based private investment firm with a track record of maximizing 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, Cagan McAfee steps in to provide the expansion stage venture capital and growth capital needed to help these companies reach their long-term goals.
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.
Objective Capital Partners is an 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 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 million to $100 million, healthcare and 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.
Cagan is managing director and co-founder of Cagan McAfee Capital Partners LLC, a private investment firm with a portfolio of companies in energy, clean tech, technology, fintech, and healthcare. Sherman is currently an owner/investor in 26 entities in various industries and sits on seven boards as a chairman or director.
Privately held Minimally Invasive Devices is a laparoscopic surgery solutions company. Objective Capital Partners, an M&A investment banking firm specializing in middle market M&A, healthcare and 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 its founder, Dr. Wayne Poll, to build on the platform he and his team created,” stated Cagan. “FloShield is the only product in the world that prevents a laparoscope from fogging inside the body, the number one problem in laparoscopy.”
Minimally Invasive Devices, 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 U.S. Food and Drug Administration- and CE approved and have been sold throughout the United States, Europe, Australia, and parts of Asia.
Cagan McAfee Capital Partners is an established Silicon Valley-based private investment firm with a track record of maximizing 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, Cagan McAfee steps in to provide the expansion stage venture capital and growth capital needed to help these companies reach their long-term goals.
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.
Objective Capital Partners is an 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 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 million to $100 million, healthcare and 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.
