RF Medical Devices

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September 21, 2005

RF Medical Devices, Mercury Medical Products (d/b/a Precision Medical Engineering) both Massachusetts corporations and Neurotherm, LTD, a UK based company, announced the acquisition of the Companies by RDG Medical Holdings, Inc. The three companies sell medical devices and consumables primarily utilized in radiofrequency ablation of spinal nerves that are the cause of back pain.

The deal, funded by a New York based private equity group, “received tremendous World Wide response”, according to Mr. Scott Waxler, Managing Director of Lockebridge, LLC. At the time we were engaged by Sunbelt Business Advisors to execute their larger deals. We received over 80 inquiries ranging from multibillion dollar strategic buyers to small foreign Private Equity Groups. After sending out over 30 descriptive memorandums and receiving over 10 offers in only 8 weeks we decided to pull the offer off the market. The entire process from client engagement to closing took 7 months. This is very short for any company valued $25 – $50M let alone a roll up of 3 companies with one being internationally based.

Mr. Matthew Nekoroski, President of RF Medical Devices, and Precision Medical Engineering comments, “ we spoke to some very prestigious investment banking firms before engaging with Mr. Waxler. Prior to the role-up the three companies were valued individually at a total of $13M. Mr. Waxler proposed the role-up explaining that the synergies where substantial and as a result would achieve a valuation, in his opinion, of over $20M. We were all skeptical but in the end we obtained a price exceeding the $20M estimate. Mr. Waxler told us that he could never guarantee to sell any company but he would guarantee to get us in front of the best strategic and financial buyers in the world, and he did exactly that plus some.