HandyLab Acquired by Becton, Dickinson and Company

In November 2009, Arboretum Ventures portfolio company HandyLab was acquired by Becton, Dickinson and Company (NYSE: BDX) for $275 million.  HandyLab is a molecular diagnostics company founded by two University of Michigan Ph.D.s, Kalyan Handique and Sundu Brahmasandra, led by veteran healthcare CEO Jeff Williams, also a Michigan graduate.  “HandyLab has developed and commercialized a flexible automated platform for performing molecular diagnostics which is an ideal complement to our molecular diagnostics offerings,” said BD President Vincent A. Forlenza at the time the merger was announced.

Arboretum first invested in HandyLab in 2004 and invested in three subsequent rounds of financing as the company progressed, making HandyLab Arboretum’s largest total portfolio company investment to date.  Co-investors included Michigan-based funds Ardesta, EDF Ventures and Wolverine Venture Fund, along with Pfizer Strategic Investments and Dow Venture Capital. Arboretum Managing Director and HandyLab Board member Jan Garfinkle said, “It’s a big win for everybody.  The Michigan VC funds were essential to the financing and ultimate success of the Company.”

The HandyLab acquisition is the second Ann Arbor-based Arboretum Ventures portfolio company to be acquired by a Fortune 500 company in the past year, the other being HealthMedia’s acquisition by Johnson & Johnson in October 2008.

Arboretum Hosts Healthcare Leadership Conference

In October, Arboretum Ventures held its first two-day Leadership Conference for its portfolio company CEO’s, two advisory boards, and select leaders in the healthcare field.  The focus of the event, held in Traverse City, Michigan, was to discuss how the changing landscape in regulation, reimbursement, and healthcare delivery will impact venture-backed healthcare companies of today and the future.  Featured speakers included Bill Hawkins, CEO of Medtronic, Dr. Ora Pescovitz, CEO of the University of Michigan Health System, and Jo Natauri, Managing Director in the healthcare investment banking practice at Goldman Sachs (pictured left).  The group was also educated and entertained by John U. Bacon, co-author of “Bo’s Lasting Lessons,” a book on leadership he wrote with the late Bo Schembechler, former coach of the University of Michigan football team.

Arboretum Ventures Named "Company of the Year" for 2009

Arboretum Ventures was named "Company of the Year" at AnnArbor.com Business Review's 2009 "Deals of the Year" ceremony on November 6, 2009 in Ann Arbor, Michigan.  Arboretum was recognized for its recent investment successes and for closing its $73 million second fund.

Local business leaders celebrated Ann Arbor's role in leading the state of Michigan out of the economic recession at the award ceremony.  The annual awards, hosted by AnnArbor.com's Business Review, highlight the best of the local business community, demonstrating the collective power of the entrepreneurial successes in Southeast Michigan.