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YES launches $50 Million fund for medtech firms
By siliconindia
Boston: Yankee Equity Solution (YES) has launched the $50 million 'YES Medical Technology Fund,' a private equity vehicle to help mass based medical technology companies with revenues and profits to expand their commercialization efforts.
The YES Medical Technology Fund will provide growth capital to medtech companies that have revenues of at least $10 million and are profitable (minimum $2 million EBITDA).
The YES Medical Technology Fund's Managing Director, John A. Williams, has built and sold several publicly and privately held healthcare companies, including a medical technology company specializing in the brain-monitoring sector, which was sold to Hospira. Williams, who was recruited to this turnaround situation, identified an innovative new neuromonitoring platform for the surgical suite, raised $70 million and led a successful IPO while relocating the company from California to Massachusetts.
"The YES Fund is looking to invest in medtech companies that are fundamentally well managed, but which possess unrealized commercial potential that can be unlocked with the help of financial resources, as well as strategic and operational expertise," said Williams. "Our aim is to build on a company's existing strengths by helping management fuel growth by fine-tuning operating processes and executing a driven expansion plan," he added.