Private equity firm Accelmed Partners recently closed a $400 million oversubscribed second fund. The Florida-based firm invests in health-tech companies with revenues between $20 million and $70 million.
Accelmed’s strategy involves working with middle-market companies that have a commercial product, and helping them grow, or in some cases, adding on other technologies. Its portfolio includes medical device companies, diagnostics and digital health companies.
“Over the past decade, we have served as a trusted value-add partner to health-tech companies and management teams who are looking to take their businesses to the next level but lack the resources and expertise to execute on these aspirations on their own,” Founder and Managing Partner Uri Geiger said in a news release. “The result has been broader access to innovative health-tech solutions and a portfolio of high-growth businesses that have proven resilient to the Covid pandemic.”
So far, Accelmed has already made three investments from its new fund. The company recently invested $40 million into MedMinder, a startup building a touchscreen-enabled pill dispenser where users can order a month’s worth of medications organized by day. The dispenser “unlocks” when it’s time for them to take their medicine.
Its other recent investments include NeuroPace, a company making an implanted device for epileptic seizures, and TearLab, a company making a test to diagnose dry eye disease. Accelmed acquired TearLab in conjunction with its $25 million investment.
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