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Venture Capitalists Love NJ Device Firms

The Record of Hackensack, NJ has a piece this morning that spotlights some northern New Jersey device firms that received venture capital funding in the first quarter of 2007. It contains interviews with executives from Circulite Inc. (Hackensack), which makes a device to treat heart failure, and Cadent Holdings Inc. (Carlstadt, NJ), which makes dentistry and orthodontic imaging devices. Also mentioned are Regen Biologics Inc.

(Franklin Lakes, NJ; orthopedic implants) and Multispectral Imaging Inc. (Parsippany, NJ; infrared sensor devices). While the angle of the article, written by Douglass Crouse, is a financial one, it does a good job of showing that medical technology innovation can't happen without small companies, and the backers who fund them. A Circulite executive who used to scout potential acquisitions for large device companies puts it best: "I just found that the big companies are not purely technologically focused and clinically focused. They're also focused on the battle of the titans ... and make acquisitions that are not always for clinical benefit."

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