Latest New York Transplant: $100 Million In Investments For South Florida Medtech Companies

A torrent of venture capital money continues to stream into Miami.

Latest to join is Ceros Financial Services, a financial advisory group that is raising $100 million over the next 12 months to fund emerging medical technology companies in South Florida and beyond.

Ceros’ first investment is in a name familiar to many in Miami’s medical technology sector: Memic Innovative Surgery, a robot-assisted surgery company based in Fort Lauderdale and Israel that is chaired by Maurice R. Ferré. Ceros is leading a $96 million investment in the company, which plans to have as many as 200 employees in the coming years.

“We think it’s going to be a unicorn,” said Ceros co-founder Mark Goldwasser, referring to the tech term to describe a company worth at least $1 billion.

Goldwasser, who is moving to Miami from New York, and business partner Chris Dewey were early investors in Mako Surgical, which Ferré co-founded. Mako, a medtech pioneer, was acquired by Stryker Corp. in 2013 for $1.65 billion and helped kick off the current wave of Miami tech momentum.

“South Florida has the geography and demographics to be the next medtech hub,” Ferré, son of the former Miami mayor of the same name, said in a statement. He could not be reached for additional comment.

Ceros has already invested $65 million in the past 14 months in companies, including Dania Beach-based OrthoSensor, whose device provides real-time data during knee-surgery operations; Miami-based Dermasensor, which uses advanced technology to evaluate skin lesions for cancer; and Ferré’s current company, INSIGHTEC, which uses ultrasound technology for non-invasive brain surgery.

Goldwasser is scouting office space in Miami to headquarter Ceros.

“Ceros is looking to capitalize on Miami’s burgeoning tech, finance, and medical ecosystem, alongside its pro-business climate,” Goldwasser said. “Miami-area hospitals are hungry to grow and innovate. We’re seeing this huge wave here for economic reasons, lifestyle reasons — people my age, in their early 60s, are realizing they don’t need to be in New York anymore. You just need a laptop, tablet and a cellphone.”

Goldwasser most recently led National Holdings Corp., a New York-based parent corporation of several affiliated financial services companies.

Source: Miami Herald