Accelmed Partners II has entered into an agreement to acquire TearLab, according to a press release.
Accelmed will make a $25 million investment over two tranches, and then TearLab will become a private company with Accelmed as the controlling shareholder. CR Group, TearLab’s senior secured lender, will restructure terms of the company’s outstanding senior secured indebtedness, and proceeds of the investment will be used by TearLab to pay down existing debt.
Uri Geiger, PhD, founder and managing partner of Accelmed Partners, will become chairman of the board. Lior Shav, a general
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