Newly-Private MicroMed: Is it Destined for Greater Markets?
This article was originally published in Start Up
Executive Summary
MicroMed has the smallest LVAD on the market (outside of the US), which makes it suitable for the sought-after destination therapy market. The MicroMed LVAD has been implanted in more then 450 patients, which makes it second only to Thoratec in terms of the number of implants. But it hasn't been easy. To get to this point, MicroMed chewed through large helpings of money-seed funding, four rounds of venture capital, and a bank financing, before going public in 2005 through a reverse merger with a shell company. By the end of 2007, MicroMed needed to raise money on top of a large accumulated deficit. Rescue came from private equity group E-Wilson, which took the company private.