
Friday, November 21, 2008
New YES fund opens for Mass. medtech firms
By Mass High Tech Staff
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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