HealthEdge Completes Advanced Bio-Technologies Investment
TAMPA, FLORIDA– May 4, 2007 – HealthEdge Investment Partners, LLC (“HealthEdge”) announced today that it has completed its acquisition of Advanced Bio-Technologies, Inc. and its wholly-owned subsidiaries (“ABT”).
ABT is a privately held dermatological products company that markets a patented, self-drying, silicone-based range of products for scar prevention and treatment. ABT’s flagship product, Kelo-cote® Advanced Formula Scar Gel, is a proprietary silicone technology used to treat and prevent abnormal scarring such as keloid, burn, and hypertrophic scars. The product is currently sold in the U.S. market through sales representatives and partnerships with several U.S. wholesalers to U.S. physician offices, pharmacies, and internet retailers. Kelo-cote® is sold internationally through distributors in Europe, South Korea, Venezuela, Mexico, India, Brazil, and other countries around the world.
Brian W. Anderson, a Managing Partner of HealthEdge, said, “We are excited to enter the dermatology space and believe we can help accelerate the growth of this unique product both domestically and internationally as well as acquire other product capabilities for the business. ABT has already established an international presence and foothold, especially in Europe, and there are significant opportunities elsewhere in which to expand. We intend to work closely with the ABT management team to grow the business organically and we will also use the company’s existing technology as a platform to develop new products.”
ABT President Paul Guilbaud added, “This is a new stage in the exciting development of ABT. This transaction allows us to ramp up sales and marketing efforts in the U.S., build the necessary infrastructure for our world-wide sales expansion, and allow us to support our International distributors. And, with HealthEdge, we have definitely partnered with the right type of strategic capital providers.”
HealthEdge Investment Partners, LLC is an operating-oriented private equity firm founded in 2005 that focuses exclusively on the healthcare industry. HealthEdge seeks to achieve superior returns by investing in businesses that benefit from the knowledge, experience and network of relationships of its partners. HealthEdge’s partners have more than 100 years of combined operating experience in healthcare as CEOs and investors. For more information on HealthEdge, visit www.healthedgepartners.com.
About Advanced Bio-Technologies
Advanced Bio-Technologies, Inc. is a dermatological products company focused on scar treatment and prevention. The Company’s flagship product is Kelo-cote®, a patented, selfdrying, silicone-based topical medical gel that dries within five minutes to form an invisible protective silicone sheet over the applied area. The protective barrier is flexible, odorless, waterproof, transparent, and breathable, and cosmetics and sun block can be applied after the gel has dried. The gel softens and flattens raised scars and reduces redness and itching. The
Company recently relocated its corporate headquarters from the Seattle area to Clearwater, FL.
For more information, please contact Brian W. Anderson at HealthEdge Investment Partners at (813) 490-7102, or Paul Guilbaud at Advanced Bio-Technologies at (727) 533-8400.