Contacts: Anthony G. Viscogliosi, Viscogliosi Bros., LLC (212) 583-9700
Chris Storer, Creative Partners (203) 705-9219
VISCOGLIOSI BROS. LLC PORTFOLIO COMPANY ALLIANCE MEDICAL CORP. TO MERGE
WITH VANGUARD MEDICAL CONCEPTS
New York, NY - August 29, 2005 – Viscogliosi Bros. LLC (VB), (“VB”),
a closely-held venture capital/private equity and merchant banking firm
focused on developing and financing life-changing musculoskeletal/orthopedic
technologies, announced that one of the firm’s investment portfolio
companies, Alliance Medical Corporation (Alliance), of Phoenix, AZ,
has agreed to merge with Vanguard Medical Concepts (Vanguard) of Lakeland,
The two companies are leading independent third-party reprocessors of
single-use medical devices (SUDs) with combined revenues estimated at
$75 million annually.
Completion of the merger is expected by the end of calendar 2005.
Anthony G. Viscogliosi, a principal of VB, said: “The merged company
will enable its 1,700 hospital and other customers to make significant
cost savings in reprocessing devices as well as offering a broader range
of services leading to increasing growth in this sector.”
VB and Mr. Viscogliosi personally were founding investors in Alliance,
in 1998. Mr. Viscogliosi was a board member until 2002, during which
time private equity funds managed by VB participated in series B, C
and D investment rounds. Under the proposed terms of the merger,
investors will receive one new share for every two shares of Alliance
and Vanguard stock.
Alliance was incorporated originally in October 1997 as a holding company
to operate subsidiaries that are engaged in the medical reprocessing
industry. Alliance subsequently acquired a series of companies
in the reprocessing field including Crystal Medical Technologies, Inc.,
and ORRIS, Inc., in which Mr. Viscogliosi had been a founding investor
and board member since 1996.
Vanguard’s primary shareholders are its management and RoundTable
“I am delighted to note that Joe Damico, Vanguard's current chairman,
will become chairman of the combined company. As the founder of RoundTable,
he has been a powerful influence upon the development of truly innovative
companies and technologies during his 25 years in the health care arena,”
Mr. Viscogliosi noted.
In addition to VB, Alliance’s other current shareholders consist
primarily of a syndicate of investors including Apax Partners, Delphi
Ventures, Coral Ventures, Valley Ventures, Merrill Lynch, and Affinity
“It is extremely satisfying to me and my brothers, John and Marc,
to have partnered with these firms as investors in Alliance and Vanguard.
We were and are still convinced that the concept of reprocessing devices
is destined to play a significant role in containing the cost of health
care without in any way affecting the quality of delivery,” Mr.
About Alliance Medical and Vanguard Medical Concepts
Alliance Medical Corporation, Inc.(Alliance) and Vanguard Medical Concepts,
Inc. (Vanguard), are leading independent third-party reprocessors of
specific single-use medical devices (SUDs) and have collectively reprocessed
more than 30 million SUDs for over 1,700 healthcare facilities nationwide.
Both companies are ISO 13485 certified and hold agreements with all
leading national group purchasing organizations as well as numerous
nationally recognized hospital integrated delivery networks that collectively
represent more than 5,000 healthcare facilities. For more information
about Alliance Medical Corporation, visit www.alliance-medical.com.
For more information about Vanguard Medical Concepts visit www.safe-reuse.com.
About Viscogliosi Bros., LLC
Viscogliosi Brothers is a merchant banking firm focused on venture capital
and private equity opportunities in the musculoskeletal and orthopedic
sectors of the healthcare industry. Established by Marc R. Viscogliosi,
John J. Viscogliosi and Anthony G. Viscogliosi in New York City in 1999,
Viscogliosi Brothers was the first merchant banking firm focused on
the musculoskeletal and orthopedic sectors. Today, Viscogliosi Brothers
is a leading independent firm with a mission to create, build and finance
companies founded on innovations developed by surgeons that are uniquely
focused on "life changing" musculoskeletal and orthopedic
technologies. Viscogliosi Brothers has worldwide surgeon, industry and
trade relationships and significant financial expertise in the musculoskeletal
and orthopedic segments of the healthcare industry.
For more information visit: www.vbllc.com
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