Medical Device Venture

In 2006, a medical device company that owned certain intellectual property and distribution rights approached Summit about providing financing to acquire additional intellectual property rights out of a pending bankruptcy. This would allow the joint venture partner to control all of the necessary requirements to manufacture and distribute the underlying product. Summit worked extensively with its partner to devise an acquisition strategy for the joint venture entity that resulted in a successful purchase out of bankruptcy.

Following the successful acquisition, Summit has worked with management on a strategy that has enabled the product to reach more patients and allow for better patient treatment. Today, this medical device is available worldwide and is considered the leader in wound/protector devices.