We are blessed here at MCP as we have wonderful investors, a healthy portfolio, and continued successful exits. Best wishes for a strong finish to 2016 and a great 2017!
Mutual Capital Partners Fund I portfolio company Cardinal Commerce was acquired by Visa. Details were not disclosed but the sale will result in a 5.5x return on our investment. The team worked hard over many years and proved that patience and perseverance pay off. For more information, please click the following link. https://www.cardinalcommerce.com/News-and-Events/Press-Releases/2016/December/Visa-to-Acquire-CardinalCommerce-to-Secure-and-Accelerate-Digital-Commerce
Please visit http://www.voxmobile.com/careers/ for more information. Specifically, an inside sales/business development representative is critically needed.
Eric B. Timko, former President and Chief Executive Officer of Blue Belt Technologies, joined OrthAlign’s Board of Directors. Mr. Timko is an accomplished medical device executive with over 25 years of experience in the healthcare industry. He joins OrthAlign’s Board of Directors after serving in several executive capacities. Most recently, he served as President and Chief Executive Officer of Blue Belt Technologies.
“My 25 year healthcare career has been focused on bringing-to-market innovative technologies that lead to better patient outcomes and equipping surgeons with the best tools in delivering the best care possible,” said Mr. Timko. “I am very impressed that OrthAlign technology has already been used in over 50,000 cases worldwide, and even more impressed with its breadth of compelling clinical data, which is rare in this space. The precision and accuracy, coupled with its affordable cost and practical use, enables all surgeons to experience those same excellent outcomes. I am very excited to join the OrthAlign team and will help in continuing to drive its strong growth and business footprint.”
Prior to joining Blue Belt Technologies, Mr. Timko served as President of and Chief Executive Officer of NeuroVasx, Inc., President of Carl Zeiss Surgical, Inc., and as Vice President of Siemens Medical Systems, Inc.
“As OrthAlign continues to grow and make its mark in the orthopedics space, it’s important that we continue adding only the best and brightest leaders to our team. We are pleased to welcome Eric to our Board,” said William E. Maya, OrthAlign’s Chief Executive Officer. “Eric brings unique and highly valuable experience to OrthAlign, being one of the medical technology industry’s most respected and innovative executives. His wealth of scientific, medical, technological, and executive leadership will enrich the Board and help the executive team to achieve its impressive growth plans. We are confident that he will bring valuable insights to help OrthAlign reach new levels of development and success.”
If you are a developer of apps and want to work with a company offering mission critical technology to large enterprises, please visit the following link to learn more.
We are excited to announce that Columbus-based RevLocal, the leader in personalized digital marketing, is the latest company to join our portfolio. After nearly four years of getting to know each other, MCP and RevLocal concluded a $3 million growth investment with an additional $500,000 from our limited partners. By pairing businesses with a dedicated digital strategist and a powerful backend platform, RevLocal delivers seamless local search marketing validated by thousands of existing customers and discovered daily by new ones. RevLocal was also just named a top 50 best places to work and, for the third consecutive year, was named to the Inc. 500 list (one of only 27 companies) growing 2,968% since 2011. For more information please visit RevLocal.com.
CLEVELAND, OH — 7signal, The Wi-Fi Performance Company, is the winner of OHTEc’s “Best Software Product” award given last night at its Tech Week conference in downtown Cleveland. 7signal was recognized for its EyeQ platform of Wi-Fi performance management, which aims to enhance the Wi-Fi experience for working professionals in healthcare organizations and large corporate enterprises everywhere.
Tech Week is an annual initiative to support, celebrate and engage the local tech community. Through these efforts, Tech Week attendance and participation has grown incredibly over the years, from roughly 500 in 2011 to over 4,000 in 2016.
“There are so many talented people and innovative companies in Northeast Ohio. To have 7signal recognized in this way is a wonderful achievement for our team,” said Jeff Reedy, CEO of 7signal. The EyeQ platform is a cloud based system that provides Wi-Fi analytics. It proactively identifies poorly performing Wi-Fi networks and offers intelligence for corrective action. “Reliable, high performance Wi-Fi is a key part of many mission critical workflows today. EyeQ helps ensure that people stay productive and that business processes remain efficient.”
Founded in 1998, OHTec has hundreds of members representing all facets of information technology: software development, IT services, website design, custom application development, IT recruiters and more. 7signal, based in downtown Akron, serves organizations with its WLAN performance solutions all over the world with customers like Maserati in Italy, Avans University The Netherlands and Sky Media in the UK.
Please check out the following link to learn more about how enosiX is enabling a mobile revolution for SAP!
More great news from OrthAlign!
OrthAlign, Inc. Announces US FDA Clearance for UniAlign™, the world’s first handheld navigation device for use in Unicompartmental Knee Arthroplasty
Aliso Viejo, CA – March 2, 2016 – OrthAlign, Inc., a privately held U.S.-based medical device company, received 510(k) clearance from the United States Food and Drug Administration (FDA) to market its UniAlign™ system, the world’s first handheld, single-use navigation device for Unicompartmental Knee Arthroplasty (UKA) surgeries.
UniAlign establishes the mechanical axis of the tibia, determining the varus/valgus angle and the posterior slope angle of the cutting block relative to the tibia, for the transverse resection. The system has been validated in simulated use testing to achieve resection accuracy of ±2.0° in the coronal plane, ±3.0° in the sagittal plane and ±2.0 mm in depth. This accuracy has been validated with at least 90% confidence for 90% of the population.
“The FDA’s clearance of UniAlign finally provides surgeons who are involved with Unicompartmental Knee Arthroplasty surgeries a practical navigation technology for everyday use,” said James Young Kim, OrthAlign’s Global Vice President of Sales & Marketing. “Surgeons who currently use KneeAlign for Total Knee Arthroplasty surgeries have shared with us that they see true value in an OrthAlign solution for UKAs. While UKAs do require just as much precision as Total Knee Arthroplasty (TKA) procedures, they definitely are not supposed to require expensive capital investment. OrthAlign’s UniAlign offers the perfect blend of performance and affordability for this outpatient procedure and we are excited to bring this technology to market.”
UniAlign was developed using the same technology and platform that OrthAlign’s award-winning and clinically-proven KneeAlign® technology was built on. To date, KneeAlign has successfully been used in over 40,000 Total Knee Arthroplasty cases, worldwide.
Sridhar M. Durbhakula, MD of the Washington Joint Institute in Bethesda, MD states, “UniAlign will be unique in that it is open platform, there will be no need for pre-op imaging or custom cutting guides, no added co-morbidity of extra pin placement, and no issues with line of sight from spheres and tracking. Additionally, UniAlign will make effective and proven technology available to all surgeons, from a price-point perspective.”
“OrthAlign’s precision technology now being offered for a UKA solution will be game-changing,” said Dr. Michael P. Ast, Director of Outpatient Joint Replacement at Mercer-Bucks Orthopaedics in Lawrenceville, NJ. “Having this proven handheld technology in the palm of my hands for each of my UKAs will be extremely valuable and I’m looking forward to getting started. I use OrthAlign technology in every one of my TKAs and will do the same for my UKAs.”
OrthAlign will continue sharing more relevant clinical data and it is expected for UniAlign to be commercially available mid-to-late Summer 2016.