Friday, October 10, 2008

Medical Education Technologies, Inc has been a leader in interactive human patient simulation

What Company Is Offering:
Medical Education Technologies, Inc. (METI®) has been a leader in interactive human patient simulation since 1996. Each METI simulator is designed to simulate bleeding, breathing, talking, blinking and numerous other physiological characteristics and various medical emergency scenarios including heart attack, drug overdose, vehicular accidents, effects from weapons of mass destruction, bio-terrorism and other traumatic injuries. More than 2000 organizations worldwide utilize METI’s technology including leading medical schools such as the Mayo Clinic, Harvard, Cornell, Stanford and others.

How Much They Got From VCs:

Baird Capital Partners (BCP), the U.S.-based buyout fund of Baird Private Equity, and Lou Oberndorf, founder and current CEO of METI, announced that they have acquired Medical Education Technologies, Inc. (METI). Founded in 1996, METI is a Sarasota, Fla.-based manufacturer of human patient simulation products and provider of medical education content such as software learning modules and training. The Company was previously majority owned by L-3 Communications (NYSE: LLL). BCP and Oberndorf partnered with Thrivent Financial for Lutherans on the acquisition. US Bank and M&I Bank provided the senior debt financing and Thrivent Financial for Lutherans provided the subordinated debt financing. With the closing of the transaction, Michael Bernstein, BCP Executive-in-Residence, will become METI’s Non-Executive Chairman. Oberndorf, the largest individual shareholder in the company, will continue as METI’s president and CEO.


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