STOUGHTON, Mass., July 20, 2011 /PRNewswire/ — STD Med, Inc., a
worldwide manufacturer and innovator of medical devices located in
Stoughton, Massachusetts, is pleased to announce that one of its
internally incubated medical device technologies, Spirus Medical,
Inc., has been successfully acquired by Olympus Corporation. Spirus
Medical, with its proprietary “rotate to advance technology” for
diagnosis and treatment of gastrointestinal (GI) disorders, is the
second exit for the medical device “hatchery” STD Med, which has
incubated, developed and spun off four advanced medical device
companies. STD Med’s first company, Angiolink Corporation,
developed a unique vascular closure system and was acquired by
Medtronic in 2004. The second start up, Arthrosurface Inc. was
organized in 2002, and has become a preferred joint sparing option
using “HemiCAP®” technology to repair cartilage defects and
damage in joints all over the body. Cardiosolutions Inc. has
invented a new alternative in percutaneous mitral valve repair
using its Percu-Pro System™ to deliver a proprietary implant
into the heart to mitigate mitral regurgitation and is currently
raising a second round of financing. STD Med employs a unique
funding model, initially bootstrapping novel ideas and then
financing with a combination of private investors and venture
capital partners including Point Judith Capital and BioVentures
Investors, which has invested in three of the STD Med portfolio
companies, seeing profitable exits in two and tremendous upside in
the third. With the exit of Spirus Medical, STD Med will be
evaluating new concepts to start up its fifth company.
“The exit of our first company was an invaluable learning
experience,” said Steven Tallarida, President and CEO of Spirus
Medical. “With Spirus Medical, we are now realizing that the
combination of our internal development skills, along with the
technical advantages and capital efficiencies of our OEM
manufacturing business, allow
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