11/20/2012 7:54:52 AM
MoMelan Technologies, a three-year-old Cambridge, MA, startup with an unusual skin graft technology invented by laser hair removal pioneer R. Rox Anderson, was secretly acquired by San Antonio, TX-based Kinetic Concepts recently, Xconomy has learned. A MoMelan investor who asked not to be named told Xconomy that he had received an e-mail from MoMelan co-founder and president Sameer Sabir informing stakeholders of the news, and that Kinetic Concepts had asked the company not to make word of the acquisition public. The investor declined to share details of the terms. However, he said., “it’s a good outcome for everybody–founders, investors, employees.” A Kinetic Concepts spokesman did not deny the report, but told Xconomy in an e-mail that the company “does not have anything to share at this time.” In repeated calls yesterday and this morning, no one was answering the phones at MoMelan’s Cambridge headquarters.
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