Gores Group and Partner Acquire Medical Device CompanyThursday, March 6, 2014
The Gores Group and Orange County partner Technology4Medicine have acquired Fotona, a company in Ljubljana, Slovenia that makes medical lasers.
The Westwood investment firm headed by billionaire financier Alec Gores said Thursday it invested in the company through its Small Capitalization Partners investment fund. Jeffrey W. Jones, president of San Clemente-based Technology4Medicine, will serve as chief executive of both businesses.
Fotona's lasers are used for medical, dental, aesthetic and gynecological applications. The company has been in business since 1964.
Technology4Medicine, which operates dental laser and therapeutic laser businesses, was founded by a group of former senior executives at dental laser company Biolase Technologies Inc. in Irvine.
“With the formation of the partnership between Fotona, Technology4Medicine and the Gores Group, Fotona will be stronger and have more resources to access the global market,” Jones said in a statement.