1888 PressRelease – Cleveland Heart International to Acquire Majority Interest in Leading Korean AED Manufacturer, CU Medical.
Charlotte-Gastonia-Rock Hill, NC-SC – Cleveland Heart International (CHI) today announced it will commercialize CU Medical AEDs (Automatic External Defibrillators) in the US. In addition to entering the US AED market, CHI will leverage CU Medical’s Manufacturing and Engineering capacity to commercialize current CHI technology covering all stages of heart failure. “CU Medical is a natural fit for CHI, CU Medical’s technology and manufacturing capacity coupled with CHI’s portfolio of medical device properties and US distribution makes for a winning combination,” said Jim Hansberger President of CHI.
“CHI will be commercializing and acquiring cardiovascular medical device technologies over the next 18 months to bring the most effective solutions for heart failure under the trusted brand of Cleveland Heart International.”
CHI has engaged Westbury Group as its exclusive financial advisor and to facilitate equity financing. Westbury Group LLC is a FINRA-registered investment banking Broker-Dealer located in Westport, Connecticut, providing financial and strategic advisory services for middle market firms. Their investment banking services include arranging financing through private placements of debt and equity securities, mergers and acquisition transactions and business advisory services for a broad range of business sectors. Westbury Group is currently assisting CHI in $200mm debt and equity financing.
Headquartered in Charlotte, NC, Cleveland Heart International (CHI) is a global diversified medical device company.
Headquartered in Seoul, South Korea CU Medical Systems, Inc. (115480:Korea Exchange – KOSDAQ) is a Leader of Medical Devices specialized in defibrillators involved in the research, development, manufacturing and customer service for all its products with the latest IT technology targeting domestic and overseas market.