Our Approach

Medical Devices

Medical Devices and Diagnostics Defined: Companies which manufacture and/or market instruments, apparatuses, implements, machines, contrivances, implants, in vitro reagents, or other similar article or component part, which is intended for use in the diagnosis of disease or other conditions, or in the cure, mitigation, treatment, or prevention of disease, in man or other animals, or intended to affect the structure or any function of the body of man or other animals.

In this sector, KBL Healthcare Acquisition Corp. III is seeking proven business models with demonstrated revenue and cash flow and more limited clinical, regulatory and reimbursement risk profiles.

Representative KBL Experience in Medical Devices

KBL Case Studies: Medical Devices

• Cambridge Heart is a diagnostic to detect people at risk for sudden cardiac death
• Dr. Berk and Dr. Krauss co-founded the company based on technology licensed from MIT, developed strategy, recruited management, led private financings in 1992-1993
• Dr. Krauss was Chairperson and initial CEO, Dr. Berk served on Board of Directors
• IPO led by Goldman Sachs and Bear Stearns in 1997; KBL investors who sold post-lock-up received $39.9 million on the original $6.6 million investment yielding a 6.1x multiple and 71.3% IRR

• Summit Technology, Inc was the first FDA-approved excimer laser for vision correction (LASIK)
• Dr. Krauss provided seed funding in 1987, when the company was at idea stage, to build out the management team and conduct clinical trials
• Summit Technologies was acquired by Alcon, Inc. for $893 million in 2000