In addition to making a significant equity investment in the company, CHG will also assume management control of Firefly Medical. CHG Principal Trevor Carlton will serve as chief executive officer, and CHG Principal Stuart Harvey will serve as president.
Current Firefly Medical CEO, Patrick Bols, will join the executive committee and become board chairman.
Carlton is a medical device expert who has led a multinational medical device company to consistent year-over-year double digit sales and EBITA growth and completed an M&A transaction worth $680M.
Harvey has developed global sales organizations, driving millions in sales in multiple countries. He specializes in sales strategy, operations and management.
"This investment will help ensure that Firefly has the resources and expertise it needs to realize the IVEA's full market potential," says Bols. "We're pleased to partner with CHG, because they have the foresight to identify the opportunity before them and the experience to pursue it effectively."
"Almost immediately we recognized that the IVEA is a solution that could transform the industry," says Carlton. "It's a great story and a great product, and we look forward to working with Firefly to make the IVEA the new standard of care in hospitals around the world."
Firefly Medical was founded in 2013 in Fort Collins, CO. IVEA, the company's flagship product, solves multiple problems around patient ambulation in the acute-care setting. Designed to improve patient mobility, staff efficiency and patient and caregiver safety, the IVEA replaces the antiquated IV pole bedside and provides stable support for patient ambulation.
This disruptive technology eliminates the need to transfer equipment from one device to another and makes it possible for just one nurse to safely ambulate a patient, saving time and money. Winner of a 2015 Edison Award, the IVEA is already transforming healthcare in hospitals nationwide and international sales development is underway.
Carlton-Harvey Group has more than 50 years of experience in the medical device industry. The company creates strategic alignments that help companies advance product development, pursue go-to-market opportunities, and capitalize on value-driven innovation.
