Tampa, Fla. – (December 4, 2007) –
Lovett Miller & Co. and its affiliated investors announced today that they have completed a $10 million equity investment in SIGMA International General Medical Apparatus, L.L.C.
(“SIGMA”), a Medina, New York-based manufacturer of “Smart” Infusion Pumps.
SIGMA manufactures and distributes the SIGMA Spectrum, an FDA approved drug error prevention “smart” infusion pump. The Spectrum helps minimize adverse drug events (“ADEs”) such as the administration of the wrong dose, wrong concentration, or an incorrect drug to a patient. The SIGMA Spectrum and related proprietary software are designed specifically to prevent ADEs associated with administration of drugs delivered intravenously.
"SIGMA has put together a superb team dedicated to delivering the safest, most effective and user friendly infusion pump on the market" said W. Scott Miller, Co-Managing Partner of Lovett Miller & Co. "We are very enthusiastic about the opportunity of being involved with this fast-growing company on the forefront of medical device technology." Mr. Miller joined the SIGMA board of directors upon closing of the investment.
"We are very pleased to have the Lovett Miller team involved in helping us expand SIGMA. Their extensive experience with rapidly growing companies, particularly in the health related fields, will be a terrific asset for SIGMA” said SIGMA President and CEO Roger Hungerford.
About Lovett Miller & Co.
Lovett Miller & Co., co-headquartered in Jacksonville and Tampa, Florida, provides growth capital and shareholder liquidity for rapidly growing, privately held companies throughout the United States with a particular emphasis on technology-enhanced service companies and healthcare firms. The Firm invests in a range of financings including (1) growth capital, (2) minority shareholder liquidity transactions, and (3) growth buyouts. Lovett Miller & Co. typically invests $5 to $15 million in equity per company, although it is willing to consider both smaller and larger equity investments. For more information, visit www.lovettmiller.com
About SIGMA International
SIGMA, Based in Medina, NY, designs and manufactures smart infusion pumps for hospitals and professional care settings throughout the United States. SIGMA smart pumps provide information and offer a design vital to drug error avoidance in the intravenous administration of drugs. For additional information about SIGMA and the SIGMA Spectrum smart infusion pumps, please visit www.sigmapumps.com
or call 1-800-356-3454.