August 4, 2014
Transaction Announcement
BOSTON, MA — Dunn Rush & Co. LLC is pleased to announce recent closing of $29.6 million recapitalization of Lucid, Inc., d.b.a. Caliber Imaging & Diagnostics (“Caliber I.D.”). Dunn Rush & Co. served as financial advisor to the Special Committee of the Board of Directors of Lucid, Inc. in connection with the recapitalization.
Caliber I.D. (www.caliberid.com) designs, develops and markets the proprietary, cutting-edge VivaScope® system – a disruptive, noninvasive point-of-care platform imaging technology with numerous applications in dermatology, surgery and research. FDA 510(k) cleared, VivaScope has regulatory approval in most major markets. With 78 issued and pending patents worldwide, VivaScope has the potential to significantly improve outcomes and reduce costs. The VivaScan™ procedure, which utilizes the VivaScope for dermatological examination, allows physicians to detect cancerous lesions that appear benign, and reduces the need for expensive, painful and time-consuming biopsies, which show no malignancy approximately 70% of the time. VivaScope also has significant applications in testing and analysis in the academic, medical and therapeutic research markets. Caliber I.D. is based in Rochester, New York.
Dunn Rush & Co. LLC was founded in 2009 to provide high quality merger and acquisition advisory services to middle market companies valued between $20 million and $250 million. Dunn Rush & Co. LLC has significant expertise in the following industry sectors: Business Services; Consumer; Defense & Security; Healthy Living; Instrumentation; Manufacturing & Distribution; Medical Technology & Services; and Technology, Software & Data Services. The Firm is a registered Broker-Dealer and is headquartered at 225 Franklin Street, Boston MA 02110. For further information, please visit our website at www.dunnrush.com or contact us at 617-451-0001.
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When I decided to sell my third generation, family business, I had many concerns. I wanted to be represented by an Investment Bank who had a strong reputation in the mergers and acquisition market, knew the market we participated in well enough to target likely interested parties, and who would manage the process of the transaction with various family members with various personal interests.
I had never sold a business before and didn’t realize everything that went into it, or the time involved. One of my best decisions was hiring professionals, Dunn Rush & Co., to guide us through the sale process. Their experience, determination and guidance resulted in a very smooth and efficient transaction. They were especially helpful during the negotiations over price. We achieved optimal results for all constituents: our shareholders, employees and customers.
I have seen the Dunn Rush team perform in several sell-side situations. You want them on your team! Their preparation and attention to detail is impressive. They are also real good people to have by your side during a stressful time. In the case of Bridgeport Fittings, Kevin and Greg introduced us to their Gold Standard of Preparation and we took their advice getting audited financial statements and a Quality of Earnings report. This preparation made the due diligence process go smoothly, helped the firm proactively address issues and greatly improved the due diligence process. The final results exceeded our expectations.