Month: October 2018

San Francisco, California – October 25, 2018 – Sverica Capital Management LP (“Sverica”), a private equity investment firm, announced today that they have made an investment in Gorilla Logic (“Gorilla Logic” or the “Company”). The investment marks Sverica’s seventh platform investment from its fourth fund.

Based in Boulder, CO, Gorilla Logic provides software development and consulting services through high-performance, distributed Agile teams both onshore in the U.S. and nearshore from its development center in Costa Rica. Gorilla Logic’s capabilities include UI / UX design, front and back end development, DevOps, QA, Security, IoT, and Big Data for both web and mobile applications, with a cloud-first approach as a Microsoft Gold Partner, and an Amazon Web Services (AWS) Consulting Partner.

Stu Stern, CEO and co-founder said “We are excited for Gorilla Logic to enter into the next phase of growth and capitalize on the foundation we’ve built as a leading provider of nearshore Agile software development teams. Sverica has a track record of supporting companies at our stage through continued growth, and they recognize the value of our service offering as well as the strong culture of excellence that we’ve built at the Company. We are pleased to have them as Partners.”

“We believe Gorilla Logic is well-positioned for continued growth given the positive trends we see around the increasing proliferation and importance of software applications, digital transformation, and the adoption of DevOps and Agile software development methodologies. The Company’s longstanding relationships with blue chip enterprise customers signifies their ability to execute and truly become a strategic partner for the software development organizations they serve” said Frank Young, Managing Partner at Sverica.

About Gorilla Logic
Gorilla Logic was founded in 2002 and is headquartered in Boulder, CO with a nearshore software development center in San Jose, Costa Rica. The Company employs nearly 300 software developers with a wide range of full stack capabilities. Gorilla Logic partners with software development organizations of enterprises to increase their success rate and accelerate their time to market with purpose-built Agile software development teams. For more information please visit www.gorillalogic.com

Boston, Massachusetts – October 23, 2018 – Sverica Capital Management LP (“Sverica”) announced today that Resonetics has acquired STI Laser Industries, Ltd. (“STI”), based in Or Akiva, Israel, a leading supplier of laser processing, nitinol shape setting and electropolishing, and cleanroom assembly and packaging for the medical device industry. In addition to servicing the prolific startup community in Israel, STI has developed a global business with extensive customer relationships in the U.S., Japan, China and Korea. Since being founded in 1998 by Tovy Sivan, President & CEO, STI has grown rapidly by identifying unmet customer needs and responding aggressively with customized solutions.

“Israel is recognized around the world as an important medical device center and we are very excited to gain access to these customers with STI. Tovy’s entrepreneurial spirit and the strong management team he assembled have created an impressive business serving the structural heart, neurovascular and minimally invasive surgery markets. The acquisition also broadens Resonetics’ nitinol processing capabilities, an important capability to serve our growing interventional business” said Tom Burns, President and CEO, Resonetics.

“I am very proud of the position STI has built in the industry over the past 20 years” remarked Tovy Sivan. “By joining forces with Resonetics now, we can offer our customers a broader set of manufacturing capabilities with the resources necessary to support best-in-class prototyping and high-volume production options in Israel, the United States, Europe and Costa Rica. We are uniquely positioned to service a growing list of industry leaders and I look forward to continuing to build this business with the Resonetics team.”

STI is doubling the size of its operations in Or Akiva, 40 minutes North of Tel Aviv. Building 2 is under construction and will open in early 2020 to increase the Israel operation to 60,000 sq. ft. to accommodate the company’s growth and new manufacturing capabilities.

About Resonetics
Founded in 1987, Resonetics is a pioneer in laser micro manufacturing and provides contract manufacturing services to the life sciences industry. Resonetics designs, builds and integrates its own laser workstations to solve complex manufacturing challenges and has invested heavily in leading edge technology. Combining state-of-the-art laser systems with a large and innovative technical team allows Resonetics to partner with customers and provide winning solutions that meet all technical, quality and economic requirements. Learn more at www.resonetics.com. Resonetics was acquired by Sverica in October 2014 and recapitalized by Sverica in February 2018 with GTCR taking a majority stake and Sverica and Resonetics management retaining a minority stake in the company.

Boston, Massachusetts – October 11, 2018 – Sverica Capital Management LP (“Sverica”) announced today that Women’s Health USA (“WHUSA”) has entered into a joint venture arrangement with Arizona OBGYN Affiliates (“AOA”), based in Phoenix, Arizona, a leading OBGYN group practice with 32 physicians and 20 mid-level providers. AOA consists of 5 branches and 10 offices in the greater Phoenix metro area.

Dr. Michael Urig, FACOG, who serves as Chairman of AOA, spoke enthusiastically about the partnership expansion and the potential it brings for AOA’s future success. “We look forward to our ongoing partnership with Women’s Health USA in order to continue delivering great and affordable care to our patients along with keeping our autonomy as physicians. This partnership allows us to focus more on patient care while enjoying combined expertise in the business aspects of our practice. I’m excited and proud of our AOA physicians and partners who have helped build this wonderful service for women in the Phoenix area.”

Andrew Villa, MD, the President of the group, added. “We are excited to work with Women’s Health USA to further our mission to provide exceptional healthcare to women through Arizona’s leading women’s health practice. Our new partnership will enhance our efforts to bring the most advanced, innovative, and highest quality medical care to our communities. Moving forward together will allow us to expand our reach into other communities throughout Arizona, elevating the level of care to women.”

Goran Dragolovic, CEO at Women’s Health USA, commented on the company’s market and purpose: “Our mission is to support physicians in the women’s health field by protecting their clinical autonomy and allowing them to maintain control of their practice, and by empowering them to more effectively design and deliver optimal care for their patients. Drs. Urig and Villa and the rest of the AOA providers have a collective vision, passion and commitment to quality that is palpable, and we are energized by this opportunity to partner with them.”

About Women’s Health USA
Founded in 1997, WHUSA provides OBGYN, In Vitro Fertilization, and other specialty women’s health practices with a full suite of practice management solutions including payor contracting, revenue cycle management, EMR support, financial & human resources management, merger & acquisition support, ancillary services development, and risk management services.  WHUSA’s unique partnership model enables physicians and physician groups to maintain their independence, while leveraging the resources of a national organization.  For more information, please visit www.whusa.com.