Press Releases & Press Kit

CINCINNATI, November 25, 2011 – About 16 months after becoming a division of Devicor® Medical Products, Inc., Mammotome – the company that helped create and build the vacuum-assisted breast biopsy market – has made significant progress toward its new product development and growth goals.

"As the only company with a singular focus on breast biopsy, Mammotome is re-focused, re-energized, and re-committed," says CEO Tom Daulton. "We’ve spent more than a year solidifying our foundation for growth through product development and acquisition efforts. We’re excited to start sharing new products and initiatives with the clinicians who’ve helped to make Mammotome the trusted, market- leading brand it is today."

With the support of a world-class, cross-functional leadership team, Daulton points to the development of next generation products and platforms as the primary driver of growth and innovation. The first of these products – a single insertion, tetherless device for use in ultrasound-guided biopsies – is currently undergoing FDA approval and is slated to be commercially available globally early next year.

In addition to preparing for next year’s new products rollout, several major milestones were reached in 2011:

• Mammotome continues to build its global team with the best and brightest talent in the industry, adding approximately 100 new team members in the past year. With offices in the United States, France, Germany, Italy, Japan, China, Korea and Mexico, the company now employs more than 400 people globally.
• A new manufacturing facility in Tijuana, Mexico, is now fully operational. The plant produces nearly all disposable Mammotome products globally.
• Devicor acquired the neoprobe® GDS portfolio of products from Neoprobe Corporation. The acquisition expands the company’s dedicated breast care portfolio and product offerings as Devicor works towards its goal of building a $500 million global medical device business.
• Construction began on a new Design and Education Center that grows the company’s presence at its Sharonville, Ohio headquarters. The expansion is set to be completed in spring of 2012 and will help Mammotome continue its leadership in hands-on customer training.
• We’ve celebrated some great accomplishments over the past year, but we do so with our eyes firmly on the future," says Daulton. "Our number one priority in every step we take along the way is to work toward our mission of developing superior, minimally-invasive tools and technologies that help clinicians best diagnose and care for their patients.

About Mammotome
Mammotome, headquartered in Sharonville, Ohio, has more than 400 employees around the globe. The company is committed to advancing technology to help clinicians accurately diagnose breast disease, such as breast cancer, through minimally invasive procedures. Sold in more than 50 countries around the world, the Mammotome® product portfolio includes the Mammotome® Breast Biopsy System and tissue markers (MammoMARK®, MicroMARK®, and CorMARK®) used in breast disease diagnostic sampling and management. Since its introduction in 1995, more than 3.8 million women have had a minimally invasive breast biopsy in stereotactic, ultrasound or MRI-guidance imaging using the Mammotome® Biopsy System. For more information, please visit www.mammotome.com.

About Devicor® Medical Products, Inc.
Devicor® Medical Products, Inc. is dedicated to building a global business through the investment in and development of tools and technologies that facilitate minimally invasive medical procedures. Under the direction of a world-class leadership team, Devicor’s initial focus is on the vacuum-assisted breast biopsy market. For more information, please visit www.devicormedical.com.

Cincinnati, Ohio – August 17, 2011 – Devicor^® Medical Products, Inc. (Devicor), a portfolio company of GTCR, a leading private equity firm, announced today the completion of its previously announced agreement to acquire the neoprobe^® gamma detection system (GDS) products and related assets from Neoprobe Corporation.

Devicor previously provided distribution and marketing services to Neoprobe for the GDS portfolio. Financial terms of the agreement included $30 million cash at close plus up to an additional $20 million in royalties based on revenue milestones. The sale was approved by Neoprobe’s shareholders on August 15.

“We are excited to complete this agreement with Neoprobe and believe this is a significant step toward our goal of building a market leading medical device business,” says Devicor CEO Tom Daulton. “We look forward to welcoming to Devicor all of the dedicated Neoprobe employees responsible for this growing product portfolio, as we plan to expand the business further through our global direct sales platform and additional R&D investment.”

The acquisition of the neoprobe^® GDS line comes approximately a year after Devicor’s acquisition of Ethicon Endo-Surgery’s (EES) Breast Care business, Mammotome, which sells products designed to help doctors detect and diagnose breast cancer. GTCR invested additional equity capital in Devicor to finance a portion of the purchase price of the neoprobe^® GDS assets.

“The funding of additional equity capital by GTCR to support our growth is an excellent example of the strong partnerships GTCR forms with management teams to acquire and expand successful companies in healthcare and other industries,” says Jonathan Salkin, Devicor’s Executive Vice President of Corporate Development & Strategy.  

The Mammotome^® product portfolio is sold in 50 countries around the world and includes the Mammotome^® Breast Biopsy System as well as tissue markers for breast disease diagnostic sampling and management. Mammotome has distributed and marketed Neoprobe’s line of gamma detection systems since 2000, as part of EES and then continuing as part of Devicor.

About Devicor^® Medical Products, Inc.
Devicor, the parent corporation of Mammotome, is a fast-growing global company dedicated to acquiring and growing healthcare companies. With an initial focus on the breast cancer market, the company is dedicated to building a global business through the investment in, and development of, tools and technologies that facilitate minimally invasive medical procedures. For more information, please visit www.devicormedical.com.

Mammotome, headquartered in Sharonville, Ohio, has more than 300 employees around the globe. The company is committed to advancing technology to help clinicians accurately diagnose breast disease, such as breast cancer, through minimally invasive procedures. Sold in more than 50 countries around the world, the Mammotome^® product portfolio includes the Mammotome^® Breast Biopsy System and tissue markers (MammoMARK^®, MicroMARK^®, and CorMARK^®) used in breast disease diagnostic sampling and management. Since its introduction in 1995, more than 3.4 million women have had a minimally invasive breast biopsy in stereotactic, ultrasound or MRI-guidance imaging using the Mammotome^® Biopsy System. For more information, please visit www.mammotome.com.

About Neoprobe Corporation
Neoprobe is a biomedical company focused on enhancing oncology patient care and improving patient benefit. In addition, Neoprobe holds significant interests in the development of related biomedical systems and radiopharmaceutical agents including Lymphoseek^® and RIGScanTM CR.  Neoprobe’s subsidiary, Cira Biosciences, Inc., is also advancing a patient-specific cellular therapy technology platform called ACT. Neoprobe’s strategy is to deliver superior growth and shareholder return by maximizing its strong position in gamma detection technologies and diversifying into new, synergistic biomedical markets through continued investment and selective acquisitions. For more information, please visit www.neoprobe.com.

About GTCR
Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Financial Services & Technology, Healthcare and Information Services & Technology industries. The Chicago-based firm pioneered the “Leaders Strategy” – finding and partnering with world-class leaders as the critical first step in identifying, acquiring and building market-leading companies through acquisitions and organic growth. Since its inception, GTCR has invested more than $8.5 billion in over 200 companies. For more information, please visit www.gtcr.com.

Cincinnati, Ohio – May 25, 2011 – Devicor^® Medical Products, Inc. (Devicor), a portfolio company of leading private equity firm GTCR, announced today it has signed an asset purchase agreement with Neoprobe Corporation to acquire the neoprobe® GDS portfolio of products. Devicor currently provides distribution and marketing services to Neoprobe for the gamma detection systems covered by this agreement. Financial terms of the agreement include $30 million cash at close plus up to an additional $20 million in royalties based on revenue milestones. The sale is subject to approval by Neoprobe’s shareholders and is expected to close shortly after the shareholders’ meeting in August.

 “We are excited to sign this agreement with Neoprobe and believe this is a significant step toward our goal of building a market leading medical device business,” says Devicor CEO Tom Daulton. “We look forward to welcoming to Devicor the dedicated Neoprobe employees responsible for this growing product portfolio, as we plan to expand the business further through our global direct sales platform.”

 The acquisition of the neoprobe® GDS line comes less than a year after Devicor’s acquisition of Ethicon Endo-Surgery’s (EES) Breast Care business, Mammotome, which sells products designed to help doctors detect and diagnose breast cancer. GTCR will be investing additional equity capital in Devicor to finance a portion of the purchase price of the neoprobe® GDS assets.

 “The commitment of additional equity capital by GTCR to support our growth is an excellent example of the strong partnerships GTCR forms with management teams to build successful companies in healthcare and other industries,” says Jonathan Salkin, Devicor’s Executive Vice President of Corporate Development & Strategy.  

The Mammotome® product portfolio is sold in 50 countries around the world and includes the Mammotome® Breast Biopsy System as well as tissue markers for breast disease diagnostic sampling and management. Mammotome has distributed and marketed Neoprobe’s line of gamma detection systems since 2000, as part of EES and then continuing as part of Devicor.

 "We are pleased to have arrived at this important agreement for our gamma detection devices with a leader in the diagnostic device space,” says Dr. Mark Pykett, Neoprobe’s President and CEO. “Devicor is a trusted partner, and we believe it can ultimately deliver to Neoprobe the full value of the device business we’ve built. This transaction allows Neoprobe to strategically focus its expertise, competencies, and resources in the radiopharmaceutical space and, in doing so, become a pure-play specialty pharmaceutical company where attractive valuations can be realized for our shareholders.”

About Devicor^® Medical Products, Inc.

Devicor, the parent corporation of Mammotome, is a fast-growing global company dedicated to acquiring and growing healthcare companies. With an initial focus on the breast cancer market, the company is dedicated to building a global business through the investment in, and development of, tools and technologies that facilitate minimally invasive medical procedures. For more information, please visit www.devicormedical.com.

Mammotome, headquartered in Sharonville, Ohio, has more than 300 employees around the globe. The company is committed to advancing technology to help clinicians accurately diagnose breast disease, such as breast cancer, through minimally invasive procedures. Sold in more than 50 countries around the world, the Mammotome® product portfolio includes the Mammotome® Breast Biopsy System and tissue markers (MammoMARK®, MicroMARK®, and CorMARK®) used in breast disease diagnostic sampling and management. Since its introduction in 1995, more than 3.4 million women have had a minimally invasive breast biopsy in stereotactic, ultrasound or MRI-guidance imaging using the Mammotome® Biopsy System. For more information, please visit www.mammotome.com.

About Neoprobe Corporation

Neoprobe is a biomedical company focused on enhancing oncology patient care and improving patient benefit. Neoprobe currently markets the neoprobe® GDS line of gamma detection systems that are widely used by cancer surgeons. In addition, Neoprobe holds significant interests in the development of related biomedical systems and radiopharmaceutical agents including Lymphoseek^® and RIGScan^TM CR. Neoprobe’s subsidiary, Cira Biosciences, Inc., is also advancing a patient-specific cellular therapy technology platform called ACT. Neoprobe’s strategy is to deliver superior growth and shareholder return by maximizing its strong position in gamma detection technologies and diversifying into new, synergistic biomedical markets through continued investment and selective acquisitions. For more information, please visit www.neoprobe.com

About GTCR

Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Financial Services & Technology, Healthcare and Information Services & Technology industries. The Chicago-based firm pioneered the “Leaders Strategy” – finding and partnering with world-class leaders as the critical first step in identifying, acquiring and building market-leading companies through acquisitions and organic growth. Since its inception, GTCR has invested more than $8.5 billion in over 200 companies. For more information, please visit www.gtcr.com

Cincinnati, Ohio – September 27, 2010 – Devicor Medical Products, Inc. today announced several key appointments to its Mammotome division’s executive leadership team. The leadership team will work together to support global growth as the company works to advance technology to help clinicians accurately diagnose breast disease, such as breast cancer, through minimally invasive procedures.

Under the leadership of CEO Tom Daulton, each appointee brings decades of experience leading cross-functional divisions of global healthcare products companies. In each of their respective areas and beyond, they have proven experience developing healthcare businesses through a combination of research and development investment, organic growth, licensing, and acquisitions.

“The senior management team shares my commitment to investment and innovation as we continue to build on Mammotome’s position as a leading global breast care company,” said Daulton.

Devicor was formed in 2008 with financial backing from GTCR, LLC, the Chicago‐based private equity firm that pioneered the strategy of identifying and partnering with exceptional executives to build companies through a combination of acquisitions and strong internal growth. In July of this year, Devicor acquired the Breast Care Business of Ethicon Endo-Surgery, Inc. (EES), a Johnson & Johnson company, which sells products designed to help doctors diagnose breast cancer at early stages using a less invasive approach that can offer patients faster recovery times and less scarring than open surgical biopsy.

Joining Daulton and Jon Salkin, Executive Vice President of Corporate Development & Strategy, on Mammotome’s senior leadership team are:

• Gene Schrecengost, Senior Vice President of Human Resources. In overseeing Mammotome’s HR functions, Schrecengost brings more than 20 years of experience in human resources, change management, and new business strategy in the healthcare industry and beyond. 
• Joe Trentacosta, Chief Financial Officer. In managing all of Mammotome’s financial considerations, Trentacosta will draw on three decades of cross-functional investment and finance experience.
• Sean Burke, Vice President of Finance. Based in Paris, Burke has built his expertise in the areas of international business and finance over 25 years in the healthcare industry. 
• Mark Ehlert, Senior Vice President of Scientific Affairs. After “retiring” and forming his own company in 2007, Ehlert will bring more than three decades of experience in the medical device and drug industries to guide Mammotome’s Scientific Affairs area.
• Bruce Marchioni, Vice President of Quality and Regulatory Affairs. Drawing on his work with several global healthcare companies over two decades, Marchioni will administer all aspects of quality assurance and regulatory affairs for Mammotome.  
• Kent Rex, Senior Vice President, Chief Operations Officer. Nearly 40 years of healthcare industry experience in production, plant management, and manufacturing serves as a solid foundation for Rex to oversee Mammotome’s manufacturing and operations functions.
• Bonnie Rib, Senior Vice President of Global Marketing.  Rib brings more than 28 years of healthcare experience. Most recently, in 16 years at EES, she served as Vice President of Breast Care and Professional Education. Rib will be responsible for business strategy, global marketing, and professional education.
• Kevin Cleary, Senior Vice President of Global Sales.  Cleary previously served as the Director of Sales & Marketing for EES Breast Care. He brings more than 22 years of broad-based global business experience to his new role with Mammotome.
• Ken Kramer, Senior Vice President of Product Development & Engineering.  Kramer’s previous experience, with EES as Director of Product Development and with GE Healthcare prior to that, will provide a strong platform from which to guide future investment and innovation in the area of product development.

“Our aim is to create the best possible conditions for product innovation and sustainable growth,” said Daulton. “By combining the knowledge and experience of the existing Devicor leadership team with Bonnie, Kevin and Ken’s expertise in the Breast Care business, we believe we’re strongly positioned for success.”

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About Mammotome
Mammotome is committed to advancing technology to help clinicians accurately diagnose breast disease, such as breast cancer, through minimally invasive procedures. Sold in more than 50 countries around the world, the Mammotome product portfolio includes the MAMMOTOME^® Breast Biopsy System and tissue markers (MammoMARK^®, MicroMARK^®, and CorMARK^®) used for breast disease diagnostic sampling and management. For more information, please visit www.mammotome.com.

About Devicor Medical Products
Devicor is a newly formed company focusing on minimally invasive medical procedures, with an initial focus on the vacuum assisted breast biopsy market. The company is dedicated to building a global business through the investment in, and development of, tools and technologies that facilitate minimally invasive medical procedures.

About GTCR
Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Financial Services & Technology, Healthcare and Information Services & Technology industries. The Chicago-based firm pioneered the “Leaders Strategy” – finding and partnering with world-class leaders as the critical first step in identifying, acquiring and building market-leading companies through acquisitions and organic growth. Since its inception, GTCR has invested more than $8 billion in over 200 companies. For more information, please visit www.gtcr.com.

Cincinnati, Ohio – July 12, 2010 – Devicor Medical Products, Inc. (Devicor), a portfolio company of GTCR, announced today that the company has completed the acquisition of Ethicon Endo-Surgery’s (EES) Breast Care business. The Breast Care business sells products designed to help doctors diagnose breast cancer at early stages while minimizing patient discomfort. The business will formally be known as Mammotome, a division of Devicor Medical Products, Inc.

The EES Breast Care product portfolio is sold in 50 countries around the world and includes the Mammotome® Breast Biopsy System and tissue markers (MammoMARK®, MicroMARK®, and CorMARK®) used for breast disease diagnostic sampling and management. As part of the agreement, Devicor also acquired marketing and distribution rights for Neoprobe® Gamma Detection Systems.

“Mammotome is a global leader in vacuum assisted breast biopsy devices and is a brand that is recognized worldwide. Today, we are excited to begin the work of further developing the Mammotome brand globally,” says Tom Daulton, Chief Executive Officer, Devicor and Mammotome.

Mammotome’s corporate headquarters will be located in Sharonville, Ohio, where it has leased 30,000 square feet of office space in Summit Woods Office Park, at 300 E-Business Way. Recently, the company was awarded a 60 percent job creation tax credit for seven years, valued at $1.5 million, from the Ohio Department of Development.

Now that the transaction is complete, nearly 300 EES associates primarily dedicated to the Breast Care business will be hired by Mammotome. “The talent and expertise of the Mammotome employees will allow us to continue to provide the best in innovative technologies to our customers around the world,” says Daulton.

Mammotome’s plans for growth include adding more than 150 jobs worldwide of which approximately 70 positions will be located at the corporate headquarters. In addition, Mammotome plans to build a new manufacturing plant in the next 12-18 months.

“The acquisition of the Breast Care business is a key component in achieving our objective of building a leading medical device business,” says Dean Mihas, Principal of GTCR. “Given Tom Daulton’s impressive track record leading and growing global medical device businesses, we’re excited to be a partner in this acquisition and are committed to providing the resources to further strengthen Mammotome’s market leading position through organic growth and strategic expansion.”

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About Devicor Medical Products, Inc.
Devicor is a newly formed company focusing on minimally invasive medical procedures, with an initial focus on the vacuum assisted breast biopsy market. The company is dedicated to building a global business through the investment in, and development of, tools and technologies that facilitate minimally invasive medical procedures. For more information, please visit www.devicormedical.com.

About GTCR

Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Financial Services & Technology, Healthcare and Information Services & Technology industries. The Chicago-based firm pioneered the “Leaders Strategy” – finding and partnering with world-class leaders as the critical first step in identifying, acquiring and building market-leading companies through acquisitions and organic growth. Since its inception, GTCR has invested more than $8 billion in over 200 companies. For more information, please visit www.gtcr.com.

PLEASANT PRAIRIE, Wis. - May 5, 2009 - Devicor Medical Products today named Jonathan Salkin to serve as Executive Vice President, Corporate Development & Strategy. Salkin's most recent experience as a Managing Director at the Royal Bank of Scotland plc is highlighted by his successful launch of that Bank's first healthcare investment banking group globally. Prior to that, as Vice President of Corporate Development for Cardinal Health, Salkin was instrumental in strategic planning, mergers and acquisitions for Cardinal's $10 billion Medical Products & Services group.

It was at Cardinal that Salkin first connected with Tom Daulton, Devicor Medical Products's CEO. "Jon brings the perfect blend of disciplines to Devicor Medical Products," said Daulton."His combined experience in the worlds of finance, strategy and healthcare will drive us forward as we work to build a market-leading medical device company."

Based in the New York City area, one of Salkin's primary responsibilities will be to work with Daulton to secure Devicor Medical Products's initial platform acquisition as the company looks to acquire established interventional medical device businesses that manufacture and sell products to clinicians in settings such as hospitals, surgery centers, or physician offices. Beyond that, Salkin will work on strategic initiatives including subsequent mergers, acquisitions, and other collaborative endeavors; he is expected to take a leadership role in running certain segments of the day-to-day operations; and he'll serve on Devicor Medical Products's Board of Directors.

"Having previously worked with Tom to successfully build a fast-growing, profitable business, I am thrilled to once again be his partner as Devicor Medical Products deploys its substantial funding into products and companies that are advancing the field of interventional medicine and lowering overall healthcare costs," Salkin said.

PLEASANT PRAIRIE, Wis.- March 10, 2009 - Tom Daulton, the former Cardinal Health executive recently tapped to head Devicor Medical Products announced today that Devicor Medical Products is actively seeking its first acquisition as it begins building a market-leading medical device company in the highly attractive healthcare industry.

"With our strong, available capital we are actively pursuing a strategic acquisition to serve as Devicor Medical Products's platform," says Daulton.

Devicor Medical Products was created in partnership with GTCR Golder Rauner, LLC (GTCR), one of the nation's leading private equity firms, which initially committed $250 million of equity capital to support Devicor Medical Products's growth strategy. Daulton anticipates growing Devicor Medical Products into an industry-leading medical device company through a combination of capital investment, ongoing R&D investment, organic growth, and acquisitions.

Devicor Medical Products is currently looking to acquire established interventional medical device businesses that manufacture and sell products to clinicians in settings such as hospitals, surgery centers, or ambulatory clinics. Initial acquisitions are expected to provide infrastructure and personnel in key areas such as manufacturing, R&D, engineering, sales & marketing, finance, and human resources.

Daulton's career spans two decades in senior health care management roles at Baxter Healthcare, Allegiance Healthcare and Cardinal Health in both domestic and international positions. Most recently, Daulton served as General Manager of Cardinal's Interventional Specialties and Med Systems divisions, both fast-growing businesses, where he dramatically expanded revenue through a combination of organic growth, licensing and acquisitions.

Thomas Daulton has partnered with GTCR Golder Rauner LLC, Chicago, to form Devicor Medical Products. The company, with its headquarters in Pleasant Prairie, will focus on acquiring and developing medical device manufacturers and products with the financial backing of GTCR.

"On the surface it's a great time for medical companies right now, but they just don't have the capital," Daulton said. "I want to take those companies and build a sizable corporation."

Daulton, 43, is a former senior executive of Cardinal Health, Dublin, Ohio, and a previous member of its global leadership team.

Most recently, Daulton served as general manager of Cardinal's interventional specialties and med systems divisions, where he said he tripled the revenue in four years through a combination of organic growth, licensing and acquisitions.

Daulton said that while working for Cardinal Health, he saw compelling investment opportunities in the market. He became acquainted with GTCR and was recruited by the company last fall to run Devicor Medical Products.

GTCR is a private equity investment firm that manages more than $8 billion of equity capital in a wide range of companies and industries, including health care and technology.

The partnership exemplifies GTCR's strategy of identifying an industry and forging a partnership to build a company, said Dean Mihas, GTCR principal.

To Tim Keane, director of the Marquette University Golden Angels Network, the partnership looks like a private equity company that has found an experienced executive to search out business. The network is not working with Daulton or Devicor Medical Products. "This is not a new strategy," Keane said."The only difference is there isn't normally a middleman in the structure. I think it could be a very successful partnership."

Over the next five to seven years, Daulton is hoping to acquire two to five companies to form Devicor Medical Products.

First, however, Daulton has to find the first company that ultimately will determine Devicor Medical Products's future.

Daulton is willing to acquire a company as large as 1,000 employees and has been in discussions with several company owners, both in the United States and abroad, since forming Devicor Medical Products in November.

While he wouldn't identify potential companies, Daulton said he is interested in several types of medical device manufacturers including large corporations selling off a division, private firms in need of capital or public firms that have traditionally grown by acquisition but are no longer able to secure financial backing.

"I want to be practical and strategic about the companies I acquire," he said. "I don't want to just look at revenue and profits, but the organization's brand name. If we don't have a good foundation for our first acquisition, there's no two or three."