Ariel Southeast Angel Partners announces the second successful exit within twelve months for one of the Angel business group’s medical device investments.  

The acquisition of New Wave Surgical (NWS) by Mansfield, Massachusetts based, international healthcare company Covidien has resulted in a significant return for ASAP’s members who invested in this Florida based startup. NWS developed and marketed a medical device called D-Help. The device, which keeps surgical instruments warm and prevents the camera from fogging up during minimally invasive surgeries, was the brainchild of the Company’s CEO and founder, Alexander Gomez.   

Mr. Gomez worked as a surgical technician at Broward Health Medical Center and had attended Cornell Medical College when in 2006 he decided to pursue the development of his idea based on the surgeries he had observed.                                

The details of the financial terms of the Covidien deal were not disclosed but it is understood that NWS was acquired for a sum in excess of $115 million.

Around half of ASAP’s members made investments in New Wave Surgical in 2010.   Steve Clark, Chairman of ASAP’s Board of Managers said “This company is a classic entrepreneurial success story and we are very pleased that many of our members have enjoyed a very significant return on their investment. This is ASAP’s second exit in less than a year and with an improving economy we expect even more exits from our new and existing portfolio companies in the coming years.  We are proud of our processes which screen, recommend and invest in promising start up and early stage businesses and which have led to these two successful exits for ASAP”. 

He continued “Business Angels are about building businesses and creating value.  We are a member focused investment group which follows a network model.  This means we carefully screen deals and individually decide to invest or not invest in each deal. 

ASAP is a member of the Angel Capital Association and an active participant in the Southeast Angel Region with 27 angel investment groups.