Ciel Medical, which presented just eight months ago at our October 2016 Dinner, has been bought by Vyaire Medical for $18.5M in cash and milestone based earn-outs. If fully realized, the return to Band members will be ~3X. Ciel developed a catheter to prevent ventilator associated pneumonia and a second product to accurately place ventilation tubes. Congratulations to Band member Mike Bates who led this deal, and Suresh Pai, John Litz, Rakesh Sood, Michael Forrest, Rich Juelis, and Chris Meyer, and, of course, Kate Garrett (CEO) and Dan Azagury (CMO). You can read the press release here: http://bit.ly/cielexit.