Aircraft Medical
Aircraft Medical specializes in high-quality medical devices for anaesthesia and critical care, leading the video laryngoscope market with their McGRATH® Series 5.
The opportunity: Following initial profitability in 2009, the company demonstrated global market traction backed by product patent protection and a management team focused on industry leading development and design. However, as the business broke into the US and was increasing market share, a large incumbent began a legal challenge against Aircraft’s patents. The investment was used, in part, to fight and win the legal challenge and continue its growth trajectory.
The outcome: As part of Par’s diligence, a member of the Investor Network with deep expertise in IP infringement provided additional guidance and comfort around the likely outcome of the legal challenge. Once this issue was satisfied, Par Equity initially helped the Company improve its corporate governance and information flows. In addition, members of the Investor Network provided help in assessing market opportunities and potential distribution structures, before Medtronic plc acquired Aircraft Medical for $110m in November 2015 to support Medtronic’s therapy innovation strategy.
What they said: Steve Blazejewski, senior vice president at Medtronic commented: "Aircraft Medical’s offerings complement our portfolio, helping us further our commitment to reducing incidents and potential complications from respiratory compromise globally. The company’s laryngoscopes will play an important role in our airways portfolio as we develop and provide meaningful innovations that improve patient outcomes."