Novalung and Medos Start Cooperation
ANN ARBOR, Mich., Jan. 27, 2011 /PRNewswire/ -- Following the acquisition of Medos Medizintechnik AG by the private equity fund Zukunftsfonds Heilbronn ("Future Fund of Heilbronn") the company will cooperate closely in the future with Novalung GmbH (Heilbronn, Germany), which is expected to strengthen both medical device companies.
The Zukunftsfonds Heilbronn (zfhn) announced that it has acquired Medos Medizintechnik AG from Ventizz Capital Partners Advisory AG. The purchase agreement was signed on January 7, 2011. With this acquisition, medical device technology has become the most important sector for the private equity fund. Thomas Villinger, Managing Director of the zfhn, explained the decision behind this acquisition: "The medical device sector is characterized by solid growth and is independent of economic cycles." He noted further that, "Medos and Novalung are technological leaders in different markets, namely cardiac support and lung support. Their innovative technologies complement one another extremely well, and a close cooperation will enable even better utilization and speed up further developments."
Dr. Volker Hamm, who has been named to join the Medos Management Board, noted with pleasure: "We are very happy about this development. Novalung's excellent market know-how in the field of lung support will provide a much broader customer base for our high-tech products." Hamm also noted that Christian Palme will join Thomas Villinger on the Supervisory Board of Medos. The Medos facilities in Stolberg und Radeberg will continue their operations after the acquisition.
Dr. Georg Matheis, Managing Director of Novalung GmbH since its founding eight years ago, emphasized that Novalung, after thousands of treatments using the company's artificial lung, the iLA Membrane Ventilator®, has firmly established itself. "The innovative therapy for the treatment of lung failure without invasive mechanical ventilation is n