Life Line lands major cash deal from Boston VC
Summary
Mobile diagnostic company Life Line Screening of America in Garfield Heights has received a major out-of-state cash infusion in what likely is among the largest private equity investments in the region in recent years. Life Line operates a fleet of mobile scanning units nationwide that provide screenings to detect if a patient is at risk for stroke, aneurysms, peripheral arterial disease or osteoporosis. Youve got another validation that the deal flow, the quality of the companies in the region and the ideas merit national interest, Mr. Shah said from Minneapolis, where he was meeting with venture capitalists. Brodie Cobb, CEO of Presidio Financial Partners LLC, the investment banker that worked on the deal, said it was not hard for the company to find an investor. Mr. Whang said Life Line decided to seek out an investor because it wanted a business partner that would help take the company to the next level.