Becton Dickinson Acquires Accuri Cytometers, Inc.

BD (Becton, Dickinson and Company) (NYSE: BDX), a leading global medical technology company, completed the acquisition of Accuri Cytometers, Inc., on March 18, 2011. Accuri, an Arboretum II portfolio company located in Ann Arbor, develops and manufactures personal flow cytometers for researchers.The financial terms of the agreement were not disclosed; Arboretum II received six times its investment in Accuri.

Accuri Cytometers was founded by original CEO Jennifer Baird and CTO Collin Rich in 2005.  Arboretum co-led the Series B round, along with Baird Venture Partners.  Tim Petersen was a member of the Board of Directors and George Dunbar was Chairman of the Board. In 2010, Jeff Williams became CEO after the successful sale of HandyLab to Becton Dickinson.  Accuri had significant revenues and market share and will expand BD’s presence into the emerging affordable personal flow cytometer space.

VasoNova Acquired by Teleflex Incorporated

In January, 2011, Teleflex Incorporated (NYSE: TFX), a leading global provider of medical technology products, acquired VasoNova Inc., an Arboretum I portfolio company, in a transaction valued at up to $55 million.  VasoNova, based in Menlo Park, CA, has developed a unique central venous catheter navigation technology that allows for real-time accurate confirmation of the placement of peripherally inserted central catheters and central venous catheters. The company recently received 510(k) clearance from the FDA and is currently launching its flagship product.

In March, Arboretum Ventures led the Series B investment into My Health Direct, a Wisconsin-based healthcare IT company.  Chrysalis Ventures participated in the round and previously led the Series A investment in the company. Founded in 2005, MyHealthDIRECT is a web-based access management system that broadly and seamlessly connects patients to healthcare appointments throughout a community or network. Using a simple Web browser, healthcare organizations can use MyHealthDIRECT to scan and query most commercially-available practice management systems to find and book available healthcare appointments in the community. The investment will be used to fund the company’s continued national growth through expansion of its sales, client services and technical resources.  Tim Petersen joined the Board of Directors.

In March, Arboretum led the Series C round investment into Sonitus Medical.  Sonitus, based in Northern California, is pioneering the development of the world's first non-surgical, removable hearing and communication solution designed to imperceptibly transmit sound via the teeth. Relying on the principle of bone conduction, this nearly invisible device is initially intended as a simple and non-invasive treatment for hearing disorders such as single sided deafness.  The Series C capital will fund the company’s market launch in the US and abroad.  Co-investors include Aberdare Ventures, RWI Ventures, and Novartis.  Jan Garfinkle joined the Board of Directors.