Southwestern Ontario Angel Group Credited with Reducing and Simplifying the Development Process That Led to a Successful Merger
Incorporated in 2002, Scisense Inc. (now Transonic) is a leading manufacturer of micro-sensing technologies for medical research applications, including the measurement of blood pressure, volume, and electrocardiogram (ECG). The Scisense team represents decades of engineering design and manufacturing expertise, and in-depth knowledge of biomedical research and instrumentation.
Scisense received investment from members of Southwestern Ontario Angel Group (SWOAG) during the early-stage of the organization, in the first quarter of 2008.
At the time, the opportunity in Scisense represented the catalyst for the founding members of SWOAG to establish an Angel investor group in London, Ontario.
In 2010, The Mezzanine Group, a growth services firm based out of Toronto, awarded Scisense a $75,000 prize for winning a marketing plan contest. The recognition was commended by SWOAG members who applauded management for taking the initiative to apply for the contest. Members also highlighted that the distinction attested to the quality of the company, as a whole, and management’s business acumen.
On July 1, 2011, Scisense revealed that it had merged with Transonic Systems Inc., a company based out of Ithaca, New York. This constituted an “exit” that yielded a satisfying return for the Angel investors who supported the company from its early days. The members were very pleased with the result of the merger and the company’s decision to stay in London, Ontario. Furthermore, Blair Poetschke, President and CEO of Scisense, Inc., alongside his management team, will retain their positions in the merged company. The merged company is expected to now possess a more complete skillset and expand their product line in the upcoming future.
It is firmly believed that, if it were not for Angel Investors, Scisense would have been subjected to a lengthier and more complicated development process. At the time, the likelihood of management receiving funds from an alternate source was not promising. To add to their contribution, SWOAG members provided qualitative support through annual investor meetings, mentoring and introducing new networks and marketing.
Going forward, the members of SWOAG will not be formal shareholders; however, they will maintain a working relationship due to the nature of the business community and expertise they continue to offer.
ABOUT SCISENSE SYSTEMS INC.
Scisense Systems Inc. is a leading manufacturer of micro-sensing devices for medical research applications, including the measurement of blood pressure, volume, and ECG. The Scisense Team represents decades of engineering design and manufacturing expertise and in-depth knowledge of biomedical research and instrumentation.