Brook Fund II Invests $3.5 Million in Mobile Medical International Corp.
Funds to be Used to Accelerate Sales and Marketing
Brook Venture Partners (“Brook”) announced today it has closed a $3.5 million dollar investment into Mobile Medical International Corp. (“Mobile Medical”), a designer and manufacturer of mobile surgery units for both civilian and military use. The funding will be directed toward accelerating the growth of the sales and marketing team that will target the hospital renovation and military markets.
“We are excited to have Brook as our partner,” said Rick Cochran, CEO of Mobile Medical. “Their sales and marketing expertise is exactly what we need to successfully ramp up our business.”
“We are impressed with Mobile Medical’s management team and believe this round of funding will allow them to capitalize on both the military and hospital market opportunities,” said Andy Clapp, a Partner with Brook. “Mobile Medical has a unique opportunity in the hospital renovation market, this investment will help the company scale its sales team and reach this market in a robust manner.
“By 2013, all hospitals in California must comply with the Seismic Retrofit standards,” said Rich Baldwin, COO of Mobile Medical. “Currently, less than five percent of hospitals are in compliance; this means there’s a need for a great deal of renovation. Our units allow hospitals to proceed with the required renovations with minimal interruption to their current operations”
According to Walter Beinecke, a partner with Brook, “We invest in expansion stage companies like Mobile Medical which are up and running and ready to dramatically boost their revenue growth. This allows us to leverage our experience in scaling sales and marketing activities in addition to leveraging our investment capital.”
About Mobile Medical International Corp.
Mobile Medical International Corporation (MMIC) self-contained units are modular in design and equipped with the latest medical, diagnostic, laboratory and communications equipment which meet or exceed all necessary surgical standards. MMIC commercial units provide mobile medical facilities for hospital renovation, physician and healthcare organizations, correctional institutions and international emergency response, as well as to geographically remote patient populations around the world. Rapidly deployable military shelter applications include field hospitals, battalion aid stations, command and control shelters and emergency disaster response. For more information call (802) 748-2322 or go to www.mobile-medical.com.
About Brook Venture Partners
Brook Venture Partners provides expansion stage capital through Brook Venture Fund II to Information Technology and Medical Technology companies located in the Northeastern United States. The firm focuses on investments of $2–5 million. Brook is headquartered outside Boston in Wakefield, MA. For information call 781-295-4000 or visit www.brookventure.com.
November 6, 2007