Gilde Healthcare II sells its stake in FlowCardia

US-based Medtech portfolio company FlowCardia Inc acquired by C.R. Bard

Utrecht, The Netherlands – Gilde Healthcare Partners, an investor in Healthcare Technologies and Services, announces the sale of its portfolio company FlowCardia, Inc. to C.R. Bard for a total amount of approximately USD 80 million. In late 2007 Gilde invested in FlowCardia (Sunnyvale, CA, USA), a medical device company which developed and marketed CROSSERTM, the safest and most effective solution for crossing chronic total occlusions in arteries.

“The products my team developed at FlowCardia for crossing chronic total occlusions or CTOs represent an important advancement in managing lower limb arterial disease. I believe this is a real complement to Bard’s PTA products and their peripheral vascular stents…..”

said Wick Goodspeed, former CEO of FlowCardia.

“Gilde was the lead investor of our most significant financing round and became one of our largest and most active investors. I have found Gilde to be extremely supportive during the acquisition process by CR Bard. Their active role in strengthening and motivating management underlines their investment strategy focusing on people. It has been a pleasure to work with such a professional and experienced partner and Gilde would be the first European Healthcare investor that I would recommend to those planning for a financing round.” 

“The acquisition of FlowCardia is an optimal outcome for all concerned….” said Arthur Franken, Partner at Gilde Healthcare Partners and board member of FlowCardia. “As investor we are pleased with this exit in a relatively short time frame, which significantly contributes to our fund performance.” 

About FlowCardia Inc

FlowCardia, Inc. is a privately held medical device company established in 2002 to design and manufacture a portfolio of endovascular CTO recanalization products. The CROSSERTM CTO Recanalization Catheter, steerable support catheters, and Porter guidewires comprise a family of tools which enable physicians to quickly cross chronic total occlusions allowing for subsequent balloon angioplasty, atherectomy, and/or stent placement. (www.flowcardia.com)
 
About Gilde Healthcare Partners

Gilde Healthcare Partners is headquartered in Utrecht and has over EUR 300 million under management in healthcare funds. A successful builder of healthcare businesses across Europe and the US, Gilde is actively looking to lead new investments in therapeutics, diagnostics, medical devices and healthcare services. By investing in companies with attractive business models, Gilde has used its financial resources and network to create significant value for both its investors and the entrepreneurs it backs.
 
Companies that Gilde Healthcare Partners has pro-actively supported span all aspects of healthcare and include Ablynx (Belgium), Acacia (UK), Agendia (Netherlands), AMT (Netherlands), Ascendis Pharma (Denmark), BG Medicine (US), Chroma Therapeutics (UK), Conatus (US), FlowCardia (US), GlycArt Biotechnology (Switzerland), Innate Pharma (France), mtm laboratories (Germany), Profibrix (Netherlands), Santaris (Denmark) and Symphogen (Denmark). (www.gildehealthcare.nl)

Gilde Healthcare II is supported by the European Communities Growth and Employment Initiative, MAP - ETF Start up Facility.