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ANOTHER SUCCESSFUL EXIT FOR 
ARIEL SOUTHEAST ANGEL PARTNERS

SAVANNAH, GA -  May 2014  Ariel Southeast Angel Partners (ASAP) announces the second successful exit within twelve months for one of the Angel business group’s medical device investments.  

The acquisition of New Wave Surgical (NWS) by Mansfield, Massachusetts based, international healthcare company Covidien has resulted in a significant return for ASAP’s members who invested in this Florida based startup. NWS developed and marketed a medical device called D-Help. The device, which keeps surgical instruments warm and prevents the camera from fogging up during minimally invasive surgeries, was the brainchild of the Company’s CEO and founder, Alexander Gomez.  

Mr. Gomez worked as a surgical technician at Broward Health Medical Center and had attended Cornell Medical College when in 2006 he decided to pursue the development of his idea based on the surgeries he had observed.  

The details of the financial terms of the Covidien deal were not disclosed but it is understood that NWS was acquired for a sum in excess of $115 million.
Around half of ASAP’s members made investments in New Wave Surgical in 2010. Steve Clark, Chairman of ASAP’s Board of Managers said “This company is a classic entrepreneurial success story and we are very pleased that many of our members have enjoyed a very significant return on their investment. This is ASAP’s second exit in less than a year and with an improving economy we expect even more exits from our new and existing portfolio companies in the coming years. We are proud of our processes which screen, recommend and invest in promising start up and early stage businesses and which have led to these two successful exits for ASAP”.

He continued “Business Angels are about building businesses and creating value. We are a member focused investment group which follows a network model. This means we carefully screen deals and individually decide to invest or not invest in each deal. 

ASAP is a member of the Angel Capital Association (ACA) and an active participant in the Southeast Angel Region with 27 angel investment groups.


-ENDS -




SUCCESSFUL EXIT FOR 
ARIEL SOUTHEAST ANGEL PARTNERS

SAVANNAH, GA, July 30th 2013 Ariel Southeast Angel Partners (ASAP) announces the successful exit of one of the Angel Business Group’s most technologically advanced investments. The acquisition of Advanced Liquid Logic (ALL) by Illumina Inc. has resulted in a significant return for the Group’s members who invested in this North Carolina startup which grew to become a leading provider of liquid handling solutions.


ALL is now a wholly owned subsidiary of Illumina Inc., a San Diego based and NASDAQ listed company which makes genetic testing tools. ALL’s proprietary "digital microfluidics" often referred to as “Lab on a Chip diagnostics” was attractive to Illumina for the development of their next generation gene sequencing. The financial terms of the Illumina deal were not disclosed.

ASAP made significant investments in ALL during the company’s preferred stock rounds in 2007, 2008 and 2009. These investments enabled ALL to develop its innovative technology to an impressive and proven level. The technology electrically segments and manipulates small droplets within a sealed disposable cartridge to perform complex laboratory protocols on fluids such as blood, sewage, water, chemicals and solutions. 

Steve Clark, Chairman of ASAP’s Board of Managers said “Obviously we are delighted that one of our largest investments has led to a significant return for our members. Over half of our members chose to invest in ALL and even those who participated at our minimum level of $5,000 are very pleased with their return on investment. With the upturn in the economy we are expecting an increase in exits among our18 portfolio companies in the coming years and continue to screen, recommend and invest in promising start up and early stage businesses”

He continued “Business Angels are about building businesses and creating value. We are a member focused investment group which follows a network model. This means we carefully screen deals and individually decide to invest or not invest in each deal. There is no necessity to invest in every one of our portfolio companies but investments are asked for in increments of $5,000”.

ASAP is a member of the Angel Capital Association (ACA) and an active participant in the Southeast Angel Region with 27 angel investment groups.

Media Inquiries to: Lesley Francis (Board Member) at 912-429-3950 or lesley@francis.com
For more information visit ASAP at www.arielsoutheastangels.com
-ALL's technology at www.liquid-logic.com/technology
-Illumina at www.illumina.com