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McDermott says it advised 1315 Capital on Velentium Medical investment
McDermott Will & Schulte said it advised healthcare investor 1315 Capital on a growth investment in Velentium Medical. The firm described Velentium as a developer and manufacturer of medical technologies specializing in active Class II wearable devices and Class III implantable devices.
Key points
- McDermott said Bernie Grondin led its transaction team.McDermott Will & Schulte
- The firm said the investment supports expansion of commercial manufacturing operations.McDermott Will & Schulte
- McDermott said planned uses include developing regulatory capabilities and investing in automation and infrastructure.McDermott Will & Schulte
- The announcement does not disclose the investment amount or ownership percentage acquired.McDermott Will & Schulte