CB -- Berkman Capital -- Funds Sells Catheter Innovations to Boston Scientific; $50 Million Acquisition Adds Value to Venous Access Market.Business Editors PORTLAND, Ore.--(BUSINESS WIRE)--March 12, 2001 CB (Berkman Capital) Funds, an Oregon-based venture capital company with investments in information technology, medical devices and biotechnology markets, has sold Catheter Innovations, Inc. to Boston Scientific The Boston Scientific Corporation (NYSE: BSX) (abbreviated BSC), is a worldwide developer, manufacturer and marketer of medical devices whose products are used in a range of interventional medical specialties, including interventional cardiology, peripheral interventions, Corporation for $50 million. The acquisition expands Boston Scientific's technology portfolio in the $500 million venous access Venous Access Definition Venous access introduces a needle into a vein, usually for the purpose of withdrawing blood or administering medication. market. Catheter Innovations was a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. with headquarters and manufacturing facilities in Salt Lake City. CB (Berkman Capital) Funds was been the largest investor in Catheter Innovations. Catheter Innovations, Inc. develops and manufactures catheter-based venous access products which incorporate a Press-Activated Safety Valve (PASV PASV Passive PASV Password Verification PASV Passive Mode (R)) Protection Technology. This patented protection system for venous access procedures includes a three-position valve that acts as an automated clamp to open inward for the long-term infusion of intravenous fluids and outward for blood withdrawal. It is used by clinicians to treat critically ill patients through the delivery of chemotherapy drugs, antibiotics and nutritional support nutritional support, n the supply of foods and liquids necessary to advance healing and support health. . Craig Berkman is president of Craig Berkman & Associates, a corporation that provides management services for the CB (Berkman Capital) Funds, and served as chairman of the board of Catheter Innovations. "I became involved with Catheter Innovations because of its commitment to provide superior care to patients through its PASV Protection Technology," stated Berkman. "Catheter Innovations met our investment focus, which is to work with companies to bring products and services to the marketplace that improve patient quality of life and assist healthcare professionals in their responsibilities, while creating new value-added jobs," said Berkman. "We are pleased that Boston Scientific will expand clinical and consumer awareness of this innovative treatment option." Boston Scientific Corporation (NYSE NYSE See: New York Stock Exchange :BSX BSX Bermuda Stock Exchange BSX Bandai Satellaview-X BSX Bicycle Super-X (Cross) ) is a worldwide developer, manufacturer and marketer of medical devices whose products are used in a broad range of interventional medical specialties. CB (Berkman Capital) Funds is headquartered in Portland, Ore. with investments in the information technology, medical devices and biotechnology industries. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion