In brief: Medtrade replaces show director; Colours sells; more
ATLANTA - Joe Randall, senior vice president of Nielsen Business Media, has replaced Kevin Bird as Medtrade show director, the company announced last week. Randall is returning to the leadership role of the Medtrade portfolio, which includes Medtrade and Medtrade Spring. Randall has been involved in Medtrade events since 1984. Since 1997, the Medtrade portfolio has been part of his overall responsibility for Nielsen Business Media (formerly VNU).
Japanese company buys Colours
CORONA, Calif. - Nissin Wheelchairs, the largest wheelchair manufacturer in Japan, purchased Colours 'N Motion on March 18. Colours manufactures ultra-light and rigid wheelchairs. According to a statement from Colours: "This agreement will bring together the 40-plus years experience and exceptional technology of Nissin Wheelchairs and the premier brand of Colours and its established presence in the marketplace." Colours and Nissin wheelchairs will be available under the Colours name. Takahiro Haruyama will serve as CEO and John Box will continue as president.
Breathe eyes vent market
FREMONT, Calif. - Breathe Technologies, a manufacturer of medical devices to treat COPD, cystic fibrosis and influenza, closed last week on $15 million in its second round of venture funding. The investment was led by Kleiner Perkins Caufield & Byers. Breathe is developing "a unique family of compact, ultra-lightweight, ambulatory respiratory ventilator systems for the hospital, home care and pandemic markets," according to a release. The company believes it could enhance or replace $2 billion in annual worldwide sales of conventional respiratory systems.
Andover Medical picks up $2M
NORTH ANDOVER, Mass. -- Andover Medical, a provider of orthopedic durable medical equipment, has entered into an agreement for $2 million in private financing from an existing institutional investor, the company announced last week. Andover plans to use the money to retire all existing bank debt and for working capital. "Our business strategy requires capital and strong growth will depend on continued access to the capital markets," stated CEO Edwin Reilly in a release. "I am very encouraged by the consistent investor demand we receive in our security offers and view this anticipated investment as another significant vote of confidence in our business."
Pride helps protect U.S. borders
EXETER, Pa. - Pride Mobility is now a validated partner in the Customs and Trade Partnership Against Terrorism (C-TPAT), the company reported last week. Pride's role as a C-TPAT partner is to continue to ensure that appropriate security measures are maintained in a documented and verifiable format throughout its international supply chain. C-TPAT is a voluntary government/business initiative established by the U.S. Department of Homeland Security and the U.S. Customs and Border Protection (CBP) following Sept. 11. Its goal is to strengthen and improve overall international supply chain and U.S. border security.