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ARBORETUM VENTURES NEWS
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Arboretum Adds John Harris and Dr. Alan Sokolow as Advisors
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Arboretum is pleased to announce the addition of
Northstar Neuroscience founder John Harris and
healthcare systems expert Dr. Alan Sokolow to its
Technical Advisory Board.
John Harris is a veteran medical
device
entrepreneur who is currently President and CEO of
BioNeuronics. Previously, John founded two highly
successful companies, novel defibrillator firm
Heartstream (acquired by Hewlett Packard in 1998)
and electrical stimulation company Northstar
Neuroscience (went public in May 2006). John has
also been an Executive in Residence (EIR) at Versant
Ventures, a healthcare-focused venture capital firm.
John received a bachelor's degree in industrial
engineering from Stanford and his MBA from
Northwestern's Kellogg School of Management.
Dr. Alan Sokolow specializes in the
management of complex managed healthcare
organizations. He was Vice President and Chief
Medical Officer of Empire Blue Cross Blue Shield in
New York. Prior to joining Empire, he was Chief
Medical Officer for IntelliClaim, an Application
Services Provider specializing in claim auditing and
adjudication management. In addition, he served as a
Medical Director and Officer of Oxford Health Plans
from 1986 until 1998. Dr. Sokolow also served as
Chairman of the Department of Emergency Medicine
at Norwalk Hospital in Connecticut. Dr. Sokolow is a
graduate of Pomona College and UCLA School of
Medicine.
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Arboretum Invests in Inogen, Inc.
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Arboretum recently completed a Series D investment
in Inogen, its first investment in this medical
equipment company based in Goleta, California.
Arboretum was joined by new investor Novo Ventures
and existing investors Versant Ventures, Accuitive
Medical Partners and Avalon Investments. Inogen
has developed an innovative portable oxygen
concentrator, revolutionizing oxygen therapy for
patients suffering from Chronic Obstructive
Pulmonary Disease (COPD). Earlier this year, the
company’s lead product won a Medical Design
Excellence award and in 2005 was named a Frost &
Sullivan “Product of the Year”.
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HealthMedia Acquires MySelfHelp.com
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HealthMedia, an Arboretum portfolio company based
in Ann Arbor, MI, recently announced the acquisition
of MySelfHelp.com, a Boston-based provider of
behavioral health programs. MySelfHelp.com offers a
suite of interactive programs for depression,
insomnia, eating disorders and other mental health
problems that cost employers and health plans
billions each year in healthcare costs and lost
productivity. The acquisition rounds out
HealthMedia’s online behavior change interventions
for wellness, disease management, medication
compliance and behavioral health. In a separate
announcement, HealthMedia was recently selected
by the Cleveland Clinic, consistently ranked as one of
the top hospital systems in the U.S., to provide
health and wellness products to its 48,000 employees
and dependents.
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KFx Medical Receives FDA Clearance
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KFx Medical Corporation, an Arboretum portfolio
company, has developed a minimally invasive system
for percutaneous rotator cuff repair. In August, KFx
received FDA 510(k) clearance to market its
SutureCross™ Knotless Anatomic Fixation
System.
This system enables orthopedic surgeons to create a
more robust rotator cuff repair while simplifying
surgical techniques, shortening procedure times, and
improving patient outcomes.
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Two Arboretum Companies Raise Additional $47.6 Million
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Two companies in Arboretum Ventures’ portfolio
raised a combined $47.6 million in equity financing:
NeoGuide Systems recently
completed its $25
million Series C financing led by London-based Advent
Venture Partners. NeoGuide Systems is developing
technology to prevent and treat colorectal cancer
and is based in Los Gatos, California. Advent was
joined by existing investors Versant Ventures, Utah
Ventures, 3i, Kaiser Permanente Ventures, Arboretum
Ventures, SBV and The Angels Forum/Halo Fund.
CardioMEMS recently completed its
$22.6 million Series D financing led by Arcapita
Ventures. CardioMEMS develops implantable sensors
for detecting cardiac pressure and is based in
Atlanta, Georgia. Also participating in this round
were current investors Boston Millennia Partners,
Foundation Medical Partners, Medtronic, Inc.,
Johnson & Johnson Development Corporation and
Arboretum Ventures.
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