Description
Advanced ICU Care®, Inc., the nation’s largest provider of telemedicine solutions to hospital intensive care (ICU) units, announced the appointment of health care executive Lou Silverman to the position of Chairman of the Board and CEO. Silverman will leverage his more than 20 years of experience in C-level and Board-level leadership to help the company build upon its success in 55 contracted hospitals across 19 states as well as fuel company expansion.
Arboretum Ventures is a venture capital firm specializing in the healthcare sector. Founded in 2002, the firm manages $235 million in capital and has invested in more than 30 companies, five of which have exited with an aggregate valuation of approximately $1 billion.
Inogen, a maker of portable oxygen concentrators, has filed for an initial public offering to raise up to $86.2 million. Inogen was founded in 2001 by three UC Santa Barbara students, one of whom had a grandmother who had recently been placed on oxygen therapy. After winning a business plan contest at UCSB, the team went on to develop a device that used electricity to concentrate oxygen from the air. The concentrators were lighter and less bulky than traditional systems, weighting between 4.8 and 7 pounds.
Investing in the future of healthcare. We are actively pursuing investments for Arboretum Ventures III, a $138 million fund focused in the areas of medical devices, diagnostics, healthcare IT, and healthcare services. The criteria we use regarding stage, size of investment, and area of focus within healthcare are somewhat flexible. We like working with CEOs who have experience and domain expertise, but who also listen and are looking for a partner rather than just a source of capital. In general, we aim to invest $5-15 million, usually through multiple financing rounds.