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updated: 10/26/2009 8:38:44 AM
Indiana Group Announces Life Sciences Investments
An Indianapolis-based group of private investors has pumped $1.4 million into Indiana and Kentucky-based life sciences firms. Warsaw-based OrthoPediatrics has received money along with 3DR Laboratories in Louisville. Both investments were completed in the third quarter of this year. StepStone Angels was formed in January.
Source: Inside INdiana Business
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Press Release
INDIANAPOLIS- Locally based StepStone Angels, a select group of accredited private investors, completed two investments totaling approximately $1.4M in Q3 2009. The investments were made in Louisville, KY based 3DR Laboratories and Warsaw, IN based OrthoPediatrics. Both companies operate in the life sciences/healthcare arena.
"We were pleased to have completed these two deals over the summer" said Oscar Moralez, managing partner at StepStone Business Partners. "We are also very happy with the progress StepStone Angels has made in the last several months. The group continues to grow and we are getting the right mix of active angels that will make us a strong, viable and important member of the local investment community."
David Ferguson, Chairman and Senior Managing Director of 3DR Laboratories had this to say about StepStone Angels. "From inception, angel investors have provided more than 95% of the capital 3DR Laboratories has raised to support its creation and expansion. StepStone Angels provided a convenient structure through which its members gained the benefits of the professional due diligence and investor advisory services the principals provide. We are honored that several StepStone Angels members decided to invest in our Senior Secured Convertible Notes."
"StepStone was great to work with", said Nick Deeter, Chairman, President and CEO of OrthoPediatrics. "Oscar has assembled a great team of seasoned entrepreneurs and business leaders. We are happy to have them as part of the OrthoPediatrics family", concluded Deeter.
StepStone Angels was formed in January 2009 by StepStone Business Partners. StepStone Business Partners oversees the coordination of investors and entrepreneurial companies and leads the deal review and transaction process on behalf of the investors. "We are excited to be a part of this community however we need to do more on many different levels to create a successful entrepreneurial environment." Moralez said.
About 3DR Laboratories:
3DR Laboratories is a healthcare services company that specializes in the creation of sophisticated 3D medical images through several "Outsourcing" configurations. These images are used to better visualize anatomy and disease processes, leading to better diagnoses, lower costs and improved patient care. 3DR meets a striking need in the healthcare market by providing highly trained, competent SuperTechs with the training and talent to create the best images possible for hospitals and doctors, or anyone else needing access to advanced visualization.
Source: StepStone Angels
