AeroSafe Global Announces Closing of Growth Financing Round
Summary
ROCHESTER, N.Y.--(BUSINESS WIRE)--AeroSafe Global (AeroSafe) announced today the closing of a $47.5 million round of growth financing with participation from new investors Merck Global Health Innovation Fund (GHI) and Escalate Capital, along with existing investors Peloton Equity, LLC (Peloton), Hamilton Lane, Flexstone Partners and WAVE Equity Partners. "As we continue to expand our capabilities and global reach, we were looking for a partner who shares the vision of delivering breakthrough healthcare solutions through innovative products and services," said Jay McHarg, Chief Executive Officer of AeroSafe. Because managing cold chain logistics is highly complex and challenging, pharmaceutical companies have historically been forced to decide between risking significant damage to their high-value products and using very expensive shipping options. Concurrent with this investment, Joe Volpe from Merck GHI fund and healthcare executive Robin Smith Hoke are joining AeroSafe’s Board of Directors. “I am very excited to have Joe and Robin join the board,” said Mr. McHarg, “with their track record of identifying and leading disruptive healthcare companies, AeroSafe is lucky to have them.” “GHI Fund is pleased to be an investor in AeroSafe,” said Joe Volpe, “and we look forward to working with the existing investors and management team to grow the company.” Robin Smith Hoke is currently the President & CEO of Leiters and brings extensive experience building novel healthcare solutions.