Stanford Merchant Bank Lead Investor on $10 Million Round in Up-and-Coming Medical Device Company; Stanford Investment Bank Engaged as Financial Advisor
Archived October 14, 2005
MIAMI, FLORIDA - OCTOBER 14, 2005 - Stanford’s Merchant Banking group recently completed an investment in Luminetx Corporation, a medical device company headquartered in Memphis, TN. The Merchant Banking group served as lead investor in the $10 million round and utilized Stanford Group Company’s Investment Banking division as financial advisor. This engagement illustrates the complementary and cooperative nature of Stanford’s various divisions.
Luminetx is the manufacturer of VeinViewer, a medical device named “one of the most amazing inventions of 2004″ by Time magazine due to its ability to make veins visible to the naked eye, thereby eliminating multiple sticks to draw blood or insert IVs. The opportunity for the investment was created as a result of Stanford’s investment in Spring Creek Ranch, a premier golf course in Memphis, TN. Jim Phillips, founder, CEO and president of Luminetx, is also a member of Spring Creek.
“Our focus on community investment was the catalyst for our participation in the Luminetx deal,” said Managing Director John Santi, SGC/ Memphis. “Jim recognized our unwavering commitment to the community we serve and he asked us to be a part of this groundbreaking endeavor. This is just another example of how the Stanford community investment strategy truly does open doors.”