Tidewater Portfolio Companies in the News
Phononic-- Winner of Fast Company's 2020 World-Changing Ideas Award; Opus Medical—Agrees to Deal With Major Chinese Medical Device Player
WILMINGTON, N.C., May 22, 2020 (Newswire.com) - Tidewater Equity Partners, a private investment firm based in Wilmington, is pleased to announce major news regarding two of its portfolio companies, Phononic and Opus Medical.
Phononic, Inc, a Durham, NC-based company specializing in cooling and heating with patented solid-state semiconductor technology, has been awarded Fast Company’s 2020 World-Changing Ideas Award. Fast Company is the world’s leading business media brand, with an editorial focus on innovation in technology, leadership, world-changing ideas, creativity, and design. Fast Company chronicles how changing companies create and compete, highlights new business practices, as well as to showcase the teams and individuals who are inventing the future and reinventing business.
Phononic received the Fast Company award based on development of the OACIS platform. The platform aims to eventually replace traditional compressor-based, HVAC cooling systems. The OACIS platform is the latest iteration of Phononic’s semiconductor technology, which has been deployed in the fields of medical refrigeration and food and beverage storage.
“The Tidewater team congratulates Phononic on yet more recognition of the power and potential of its technology,” said Merrette Moore, Managing Partner of Tidewater. “Although the company’s technology has potential in several markets, we have long maintained that climate control holds the most promise and value.”
Opus Medical Therapies, LLC, an Atlanta, GA-based medical device company focused on developing transcatheter mitral and tricuspid valve replacement products for patients undergoing mitral and tricuspid valve disease, has recently announced a partnership with Venus Medtech Inc. to develop, manufacture and sell these TMVR and TTVR products in Greater China.
Venus Medtech is the leading transcatheter heart valve medical device player in China in terms of implantation volume. The Company focuses on the design, development and commercialization of transcatheter heart valve products.
This agreement, covering the whole Greater China market, will allow physicians and patients in this region to benefit from transcatheter mitral and tricuspid valve replacement. The combination is unavailable in any other market or from any other company.
“Venus has established a dominant position in the China TAVR market with its exceptionally safe and effective platform,” said Dr. Vivek Rajagopal, founder and CEO, Opus Medical Therapies.
“Tidewater has been very impressed with the progress Dr. Rajagopal and his team have made since our initial investment in 2018,” commented Merrette Moore. “The partnership with Venus is validation of the company’s early promise. We are confident that it will lead to a valuable array of groundbreaking, life-saving products.”
About Tidewater Equity: Tidewater Equity Partners is a North Carolina investment firm focusing on small company direct investment as well as healthcare venture capital.
About Phononic: Phononic, Inc, headquartered in Durham, NC, is revolutionizing cooling and heating with patented solid-state semiconductor technology.
About Opus: Opus Medical is an Atlanta, GA-based medical device company currently developing a novel, fully percutaneous platform for transcatheter mitral and tricuspid valve replacement.
Source: Tidewater Equity Partners
Categories: Regional Business News