Oct 11 2010
Montreux Equity Partners, LLC, (Montreux) and GC Aesthetics, Ltd., (GCAL) today announced the completion of a US$30 million private equity investment by Montreux into GCAL. GCAL is a leading designer, manufacturer, and distributor of medical devices for the global aesthetics industry. Montreux entered into the financing agreement with GCAL to accelerate the company's expansion plans.
"Montreux is dedicated to building and investing in healthcare leaders," said Ken Pearce, Chief Executive Officer of GCAL. "Montreux recognizes our ability to commercialize products in the aesthetic medical and surgical markets. This investment allows us to expand the global reach of our products in this rapidly growing sector. We are delighted to be working with the entire Montreux team."
Daniel K. Turner III, Managing Director at Montreux, observed, "GCAL has established a global leadership position in the aesthetic medical device industry. My partners and I look forward to working with Ken and the GCAL management team to drive the growth of the business." In conjunction with the financing, the board of directors of GCAL added Turner as Chairman, joined by Montreux Managing Director Howard Palefsky.