U.S. HealthWorks Medical Group, a provider of outpatient occupational healthcare services in California, has acquired two California clinics: First Care Occupational Medical Group in Valencia, and First Care Walk-In Medical Group in Saugus. No financial terms were disclosed. U.S. HealthWorks has raised around $131 million since 1996. Current shareholders include Three Arch Partners, Salix Ventures, AIG Altaris Health Partners and Dynamic Healthcare Solutions.
2 min read · 05 January 2009
1 min read · 05 January 2009
DFine Inc., a San Jose, Calif.-based developer of electrosurgical systems for treating vertebral compression fractures, has raised around $35 million in Series D funding, according to a regulatory filing. An earlier filing had indicated a $20 million calldown with a $30 million target. Backers include BBT Fund, Highland Credit Strategies Fund, Prospect Venture Partners and Vanguard Ventures. The company had previously raised over $18 million. www.dfineinc.com
1 min read · 02 January 2009
2008 was the slowest year from VC-backed liquidity events since 2003, according to new data from Dow Jones VentureSource. The year saw only $24.1 billion in IPO and M&A exit value, which was down 58% from the $57.6 billion produced in 2007. This included a fourth quarter without a single IPO.
4 min read · 02 January 2009
XenoPort Inc. (Nasdaq: XNPT) has agreed to sell $40 million worth of common stock and warrants via a registered direct offering. Maverick Capital is leading the deal, with Venrock also participating. Both firms have previously bought and sold XenoPort shares, including Venrock as an early-stage backer.
2 min read · 31 December 2008
Novartis has agreed to license a Phase I vaccine for cytomegalovirus infections from AlphaVax Inc., a Durham, N.C.-based developer of vaccine products for infectious diseases, biodefense and cancer. The deal includes a $20 million upfront payment and the possibility of future equity investments based on clinical milestones. AlphaVax has raised around $41 million in private equity funding from undisclosed investors.
2 min read · 30 December 2008
Simpler Networks, a Canadian provider of technology for the automation of copper distribution frames for local service providers, has been acquired by an undisclosed buyer. The news was announced by Hercules Technology Growth Capital, which had loaned Simpler approximately $5 million in senior secured notes. The only financial terms disclosed were that Hercules had received an initial repayment of $1.8 million, and expects an additional $1.1 million in Q1 2009. Simpler had raised over US$98 million in total VC funding since 2001, from firms like Fonds de Solidarite des Travaileurs du Quebec, Highland Capital Partners, Kodiak Venture Partners and Summerhill Venture Partners.
3 min read · 30 December 2008
BroadSoft Inc., a Gaithersburg, Md.-based provider of VoIP application software to the telecom industry, has acquired Sylantro Systems Corp., a Campbell, Calif.-based provider of VoIP applications. No financial terms were disclosed. Broadsoft has raised around $76 million in total VC funding since 1998, from firms like Bessemer Venture Partners, Charles River Ventures, Columbia Capital, Crescendo Ventures, Grotech Capital Group, RRE Ventures and Meritech Capital Partners. Sylantro has raised over $116 million since 1998, from firms like Accel Partners, Mayfield Fund, Scale Venture Partners, Summerhill Venture Partners, Vanguard Ventures and Telesystem-Argo Global Capital.
3 min read · 30 December 2008
Nava Swersky Sofer is stepping down as president and CEO of Yissum, the technology transfer company of Hebrew University of Jerusalem. Prior to taking over Yissum three years ago, Sofer was a partner with Sanderling Ventures.
2 min read · 30 December 2008
1 min read · 29 December 2008
