CHMG Capital, a Charlotte, North Carolina, private equity firm, has finalized terms of a new capital investment in Saebo, Charlotte, an international supplier of upper-extremity stroke-rehabilitation products. Though terms of the contract were not released, the Charlotte Business Journal reported that this latest round of funding brings CHMG’s total investment in Saebo to more than $3 million since 2004. CHMG is the majority investor in Saebo.
According to the Charlotte Business Journal, the funds will be used to double the company’s U.S. therapist training courses, offer 30 courses internationally in 2010, and introduce a new treatment kit designed for skilled nursing facilities. It may also be used for additional product development in the company’s upper-limb product line.
Todd Wiebusch, managing partner of CHMG, was quoted as saying, “We are very pleased with the progress the Saebo team made in 2009.”
