Originally Published MX May/June 2004
BUSINESS NEWS
Biomet to Acquire InterporeBiomet Inc. (Warsaw, IN) has entered into an agreement to acquire spinal surgery company Interpore International Inc. (Irvine, CA) for approximately $280 million. Biomet develops products used primarily by musculoskeletal medical specialists in surgical and nonsurgical therapy. The transaction is expected to close in the second quarter of this year.
NeuroMetrix Inc. (Waltham, MA) announced that it has raised $10 million in financing. Participating investors included Whitney & Company LLC (Stamford, CT), Harris & Harris Group Inc. (New York City), Commonwealth Capital Ventures (Wellesley, MA), BancBoston Ventures (Boston), the Massachusetts Institute of Technology (Cambridge, MA), and Delphi Ventures (Menlo Park, CA). NeuroMetrix develops devices for the detection and monitoring of neurological conditions affecting the peripheral nerves and spine.
Restore Medical Inc. (St. Paul, MN) has raised $26.5 million in Series C financing, which it will use to continue the commercialization of its minimally invasive snoring treatment and expand its sleep and breathing business. Bessemer Venture Partners (Larchmont, NY) was the lead investor.
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