BUFFALO, NY–(Marketwired – July 11, 2017) – Rand Capital Corporation (NASDAQ: RAND) (“Rand”), a venture capital company which invests in growth businesses with unique product, service or technology concepts, announced that Microcision LLC, one of its investments since 2009, has relocated from Philadelphia to a fully renovated 40,000 square foot facility located in Pennsauken, New Jersey. Microcision is a leading custom manufacturer of medical device implants and instrumentation that are used in life-saving and life-enhancing procedures. This includes extremely difficult to produce implants used for neurology, dental, spine fusion, small bone fixation, drug infusion and numerous other medical procedures. Microcision differentiates itself from its competitors based on its manufacturing innovation, responsiveness and outstanding engineering and design service, qualities that are driving its growth.
Bob Kramer, President of Microcision, commented, “Microcision is undergoing considerable change as the medical field, particularly the use of medical implants, continues to advance. We have evolved into a state-of-the-art supplier of extremely complex and precise machined solutions using exotic, precious and base metals as well as medical grade plastics. In order to most effectively and efficiently serve our customers, which include leading global OEMs as well as new technology-driven start-ups, we are excited to have relocated our entire manufacturing operations a short distance into a fully renovated facility that is conducive with our FDA-compliant and ISO-registered requirements.”
Allen F. (“Pete”) Grum, President and Chief Executive Officer of Rand Capital, added, “Rand has been pleased to support Microcision’s double-digit sales growth, as the company has positioned itself as an innovative leader within the customized medical implants field. The new facility will allow them to continue to grow their core business as well as develop and add new capabilities.”
Microcision is a custom manufacturer of precision machined components, implants and assemblies with tolerances as tight as +/- .0001. From prototypes to production, Microcision capabilities include complex turning, drilling, cross-drilling, threading and milling of small parts made of exotic, precious and base metals as well as medical grade plastics. Committed to ISO standards, every process at Microcision ensures exact and consistent adherence to critical dimensions and lot traceability. Millions of dollars have been invested in state-of-the-art CNC technology, training, information and tracking systems, allowing Microcision to produce the most complex configuration in the most cost-effective manner. More information can be found at http://microcision.wix.com/microcision.
ABOUT RAND CAPITAL
Rand Capital (NASDAQ: RAND) provides investors the ability to participate in venture capital opportunities through an investment in the Company’s stock. Rand is a Business Development Company (BDC), and its wholly-owned subsidiary is licensed by the U.S. Small Business Administration (SBA) as a Small Business Investment Company (SBIC). Rand focuses its equity investments in early or expansion stage companies and generally lends to more mature companies. Rand looks for strong leadership who is bringing to market new or unique products, technologies or services that have a high potential for growth. Additional information can be found at the Company’s website where it regularly posts information: http://www.randcapital.com/.
Safe Harbor Statement
This news release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements concerning receiving a new SBIC license and funding, future net asset value growth, investment returns and opportunities as well as Rand’s plans for utilizing proceeds from sales of portfolio companies when and if received. These statements involve known and unknown risks, uncertainties and other factors that could cause the actual results to differ materially from the results expressed or implied by such statements, including general economic and business conditions, conditions affecting the portfolio companies’ markets, competitor responses, and market acceptance of their products and services and other factors disclosed in the Corporation’s periodic reports filed with the Securities and Exchange Commission. Consequently, such forward-looking statements should be regarded as the Corporation’s current plans, estimates and beliefs. The Corporation assumes no obligation to update the forward-looking information contained in this release.