Serial entrepreneur Greg Erman has joined private equity firm Allied Minds Inc. as CEO in Residence for the Boston firm’s medical technology portfolio. Erman brings to the firm a track record of leading three startups to exits through acquisition.
Erman’s last stint as president and CEO was with Renalworks Medical Corp. of Sudbury, which was sold to Fresenius Medical Care in 2007. From 1997 to 2003, he was president of MarketSoft Corp., which was sold to Unica Corp. in 2005 for $7.25 million. Prior to that, Erman served as president and CEO of Waypoint Software Corp. from 1996 to 1997, when he sold the company to Open Market Inc.
At Allied Minds, Erman’s responsibilities will include identifying and leading the firm’s investments in technology being spun out of academic institutions and running a number of med-tech companies currently in the portfolio. The firm has $220 million in capital to apply to commercializing research, and has offices in Los Angeles and Washington, D.C. in addition to Boston.
Among existing portfolio companies at Allied Minds are BA Logix Inc. of Boston, which uses a new edge detection software developed by University of Texas professor Sos Agaian and Tufts University professor and Mass High Tech 2003 All-Star Karen Panetta. Potential markets include machine vision, baggage inspection, video surveillance, biometrics, and medical imaging.