This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Accelr8 Attracts Up To $35 Million Private Equity Investment

Accelr8 Technology Corporation (Amex: AXK) announced today that an investment group formed by Jack Schuler, John Patience, and Larry Mehren will invest a total of up to $35 million in Accelr8’s common stock. The purpose is to complete the product development and market introduction of Accelr8’s BACcel™ culture-free, diagnostic system for same-shift identification and antibiotic resistance testing of bacterial and fungal pathogens.

Jack Schuler and John Patience are the principals and founders of Crabtree Partners LLC. Crabtree has been instrumental in the success of numerous companies including founding Stericycle, and leading the investment group that provided the capital for Ventana Medical Systems’ first instrument. As Chairman and Vice-Chairman for over ten years, Jack Schuler and John Patience were instrumental in the growth of both organizations, resulting in the successful sale of Ventana to Roche for $3.4B, and the growth of Stericycle’s current market capitalization to over $7.4B.

Prior to forming Crabtree, Jack Schuler was the President and COO of Abbott Laboratories. He is a principal shareholder and director of Quidel Corp. (NASDAQ: QDEL), a point of care diagnostics company, a current director of Medtronic (NYSE: MDT) and the lead director of Stericycle (NASDAQ: SRCL).

John Patience headed the worldwide healthcare consulting practice of McKinsey & Co., Inc. and was a co-founder of Marquette Venture Partners. He is a director of Stericycle and Biodesix.

Larry Mehren was most recently Head of Global Business/COO of Roche Tissue Diagnostics and, immediately prior to that, CFO of Ventana Medical Systems. He is a director of Medical Referral Source, and a former investment banker. He will be named CEO of Accelr8 upon closing.

“We are enthusiastic about the potential of our company and technology, and realized we needed the right partner,” says Tom Geimer, CEO of Accelr8. Tom further states that, “After a thorough and deliberate process, the board chose Crabtree due to their unique hands-on expertise in life sciences development, operations, and commercialization, as well as their unparalleled track record of creating shareholder value for the companies they invest in.”

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.19 -1.04%
FB $118.08 0.55%
GOOG $695.81 0.50%
TSLA $234.18 0.80%
YHOO $35.97 -0.11%


Chart of I:DJI
DOW 17,651.26 -99.65 -0.56%
S&P 500 2,051.12 -12.25 -0.59%
NASDAQ 4,725.6390 -37.5850 -0.79%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs