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Print Edition StoriesFriday, November 21, 2008
New YES fund opens for Mass. medtech firms
By Mass High Tech Staff
How is the economic crisis affecting tech companies?
Medical technology companies in Massachusetts have a new vehicle from which to draw funding.
Yankee Equity Solutions (YES) has formed the YES Medical Technology Fund with $50 million in equity. YES plans to apply funding to profitable medtech firms with a minimum of $2 million EBITDA, pulling in at least $10 million in revenue and aiming for a first or second ranking in the company’s target market.
The fund is being run by managing director John A. Williams, who was president and CEO of North Billerica-based Physiometrix Inc., a medical devices company that he led to an IPO, and which was subsequently acquired in 2005 by Hospira Inc., one of the nation’s largest hospital products manufacturers, for $23 million.
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