Progress Equity Partners Completes Acquisition of Medical Indicators
Progress Equity Partners is pleased to announce its recent acquisition of Medical Indicators, Inc. (“MII”). Based outside of Princeton, NJ, MII serves a unique niche providing clinically-accurate single-use disposable and single-person reusable thermometers within the US and internationally. These thermometers provide a cost-effective way to accurately measure a patient’s temperature while at the same time reducing infection risk by eliminating cross-contamination. The Company’s end-customers include dialysis centers, hospitals, long term care facilities, and acute care centers, among others.
Paul Yeoham, Partner at Progress Equity, commented “MII has a long history of success producing accurate and easy-to-use medical products that are cost-effective and offer infection control benefits. We are honored to partner with the management team and look forward to being part of the company’s future.”
Joel Welde, President of Medical Indicators, expressed his enthusiasm by adding: “From our first meeting with the Progress team we knew we had found the right partner to help us realize the potential of our business.”
Progress Equity partnered with Harbert Credit Solutions (www.harbert.net), Live Oak Growth Capital (www.liveoakgrowthcapital.com), and Enterprise Bank (www.enterprisebank.com) to complete the transaction. Learn more about the company at www.medicalindicators.com.
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