Open Prairie Ventures I, LP Announces the Sale of MedVenture
Sept. 8, 2008: Open Prairie Ventures I, L.P., announced today the sale of MedVenture Technology, a Jeffersonville, Indiana developer of premier medical-device solutions, to an undisclosed company. Open Prairie was the lead institutional investor in MedVenture and assisted the company to a profitable exit.
Bill Lomicka, MedVenture’s Chairman of the Board said, “Open Prairie Ventures was a key investor in MedVenture Technology and played a vital role in our ultimate success. Truly, Open Prairie was a perfect investor, bringing balance and wisdom to every meeting and at each critical juncture. The Company faced many challenges over the course of its history and at every crucial point, we were fortunate to have Jim Schultz on our Board of Directors. Both a team player and a leader, he brought a wealth of experience and knowledge to our Board, ultimately helping the Company reach its full potential for growth and success.”
“The exit of MedVenture from the Open Prairie portfolio is in line with our strategy and a win-win for the Company and our Limited Partners. The success of MedVenture is yet another example illustrating that great companies with strong venture capital backing can flourish here in the Midwest,” said James “Jim” Schultz, Founder and Managing Partner of Open Prairie Ventures.