About MAX Endoscopy
MAX Endoscopy Inc., (www.maxendoscopy.com) headquartered near Cleveland, designs, manufactures and markets innovative endoscopic accessory devices in the field of gastrointestinal (GI) endoscopy. The keystone of its strategy is to provide devices that fill unmet needs in the field of gastroenterology and related medical specialties, and to do it in a way that is novel yet practical and cost-effective. The Company's PRECISION Endoscopic Infrared Coagulator(TM) device is a patent pending, FDA cleared and CE marked endoscopic infrared coagulation device will provide gastroenterologists, surgeons and other physicians with an attractive new option for treating common gastrointestinal conditions such as hemorrhoids, bleeding polypectomy sites, radiation proctitis, colitis, watermelon stomach, dysplasia, gastric ulcers, and Barrett's esophagus. Numerous other potential applications exist in the treatment of small bleeding lesions and vascular malformations encountered in gastroenterology, urology, gynecology, pulmonology, and orthopedics.
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Latest MAX Endoscopy News
Mar 9, 2012
Share / Mar 8, 2012 at 9:35 AM It’s well-known among local investors that Cleveland-area economic development group JumpStart has achieved one exit ( DIY Real Estate Solutions ) since it began investing in Northeast Ohio startups in 2004 . But what’s less known is that JumpStart had another exit of sorts last year, when a portfolio company was sold (and sold again), though it certainly wasn’t the type of exit JumpStart hoped for when it first committed money to Macedonia, Ohio-based medical device company MAX Endoscopy in late 2009 . So, that makes it pretty understandable why JumpStart wouldn’t seek to publicize this (kind of) exit, though, in fairness, it is noted on the group’s website . JumpStart chief investment officer Lynn-Ann Gries described the case of MAX Endoscopy as “not an exit in the classic sense,” and she’s right about that. (Disclosure: JumpStart is an investor in MedCity News’ parent company MedCity Media. ) Advertisement Here’s what happened, with some help from Gries: In late 2010, MAX Endoscopy’s “controlling shareholders” (which did not include JumpStart) decided they didn’t want to continue the company’s operations. So, the inventor of MAX Endoscopy’s technology, Maryland gastroenterologist Dr. Michael Epstein, decided to buy the nearly dead company’s assets and form another company, Precision Endoscopic Technologies . That second company, Precision, was then in late 2011 bought for an undisclosed sum by a third company, Massachusetts-based Optim , an endoscope manufacturer. Typically, a sale means an exit, if you define exit as some type of liquidity event, but in this case … not so much. So, where does that leave JumpStart after its $385,000 investment in MAX Endoscopy, which developed an infrared coagulation system to treat hemorrhoids? “JumpStart has an earn out and should benefit over time if the company is successful,” said Gries, who noted that the investment hasn’t thus far generated a positive return for JumpStart. From JumpStart’s perspective, the organization likely considers itself fortunate that the possibility of a return on its MAX Endoscopy investment still exists, considering that the company was left for dead by its other investors. “We’re pretty early investors, so an exit takes time, but we’re always hopeful that one is on the horizon,” Gries added. And that brings up another question: Have there been any other kind of exits of JumpStart portfolio companies that haven’t been publicized before? Ehhh, kind of. Two companies — digital marketing company Knotice and diagnostics company AnalizaDX — have paid back their notes in full, Gries said. [Photo from flickr user RumAli] Topics
MAX Endoscopy Frequently Asked Questions (FAQ)
Where is MAX Endoscopy's headquarters?
MAX Endoscopy's headquarters is located at 1410 Highland Road, Macedonia.
What is MAX Endoscopy's latest funding round?
MAX Endoscopy's latest funding round is Seed VC.
How much did MAX Endoscopy raise?
MAX Endoscopy raised a total of $250K.
Who are the investors of MAX Endoscopy?
Investors of MAX Endoscopy include JumpStart.
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