New World Angels Completes Exit from OB Medical Investment
BOCA RATON, FL (February 5, 2020) – New World Angels (NWA) (www.newworldangels.com), Florida’s premier structured angel investment group, reported at its annual meeting of member investors receipt of the final payment from its September 2018 sale of OB Medical. NWA members had invested $2.75MM into OB Medical in five different investments over four years, with returns ranging from 35% to 100% for the five investments (60% average return). Payout checks to investors were distributed at the annual NWA meeting today.
Commenting on the successful completion of the sale, NWA President Steve O’Hara noted, “NWA is a classic example of how NWA adds value beyond financial resources to its investments. NWA directors Scott Dresden and Jon Cole worked diligently with OB Medical’s CEO Mark Samuels to build the company into a valuable entity and then manage through the intricacies of the sale process. Scott’s medical background and Jon’s deal savvy from years of practicing venture law proved invaluable in completing the sale and ensuring that OB Medical would meet its commitments such that 100% of escrow payments would be released. We are grateful for Jon and Scott’s leadership, as we are to all of our members who help our 30 investments.”
Commenting further, Mr. O’Hara noted, “While we do not seek to focus on medical device, service or pharma opportunities, over the years about one-third of our investments have been in the medical arena. This reflects a talented portion of our membership having backgrounds in the medical area so we cannot only vet opportunities but support these companies once we invest.”
About New World Angels:
Founded in 2003, New World Angels (NWA) (www.newworldangels.com) is a group of 64 accredited, private investors, operators and entrepreneurs dedicated to providing equity capital and guidance to earlystage entrepreneurial companies with a strong presence in Florida. Members of NWA have extensive experience in founding, building, and managing companies in a wide variety of industries. NWA members are involved in the entrepreneurial communities from Miami to Jupiter on Florida’s east coast and from Naples to Tampa on Florida’s west coast. Since 2014, NWA has invested $20MM in growing US and international companies that either are based in Florida or have a strong presence in the state. In addition to providing funding, NWA members make their expertise and resource networks available to portfolio companies to facilitate a company’s growth.
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