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HighBank Advises the Minority Shareholders of IZI Medical Products, LLC on sale to Landauer, Inc.

December 29, 2011

IZI Medical Products, LLC ("IZI") of Baltimore, MD, a portfolio company of Riverside Partners, a Boston, MA-based private equity firm, has been acquired by Landauer, Inc. (NYSE:LDR) ("Landauer") for approximately US $93 million in cash, subject to customary purchase price adjustments. IZI Medical Products is a leading provider of high quality medical consumable accessories used in radiology, radiation therapy, and image guided surgery procedures. IZI has a broad product portfolio ranging from consumables used with MRI, CT, and mammography technologies to highly engineered passive reflective markers used during Image Guided Surgery procedures.

The IZI team is excited about becoming a part of Landauer, said Helen Shafer, CEO of IZI Medical Products. “We believe that Landauer's resources will be of significant value to our long-term growth strategy and the fit from a cultural perspective is outstanding. We look forward to a long and profitable relationship with Landauer.”

Stephen Gaines, Managing Director, at HighBank stated “My firm was thrilled to be able to advise the minority shareholders on the Landauer transaction. I have known and previously advised IZI’s principals for a number of years and through our advice encouraged them to focus on recapitalizing and then growing IZI to create the proverbial ‘second bite at the apple’. This transaction is a tremendous compliment to their leadership and management capabilities and the guidance and support provided by the team at Riverside Partners.”

HighBank Advisors, a Baltimore-based mid-market investment bank, acted as exclusive financial advisor to the minority shareholders of IZI.


Stephen Gaines
HighBank Advisors LLC

Dennis O’Neill
HighBank Advisors LLC

About IZI Medical Products, LLC

Founded in 1991, IZI Medical Products ("IZI") is a provider of high quality medical markers used in image guided surgery ("IGS"), radiology and radiation therapy procedures. IZI's products range from fiducial markers, used with MRI, CT, and PET technologies, to highly engineered passive reflective markers used during complex IGS procedures. The Company's medical markers are highly versatile and cross functional and can be used across a broad range of medical specialties including radiation therapy, radiology, orthopedics, and ear, nose, and throat procedures. For more information, visit

About HighBank Advisors LLC

HighBank is a Baltimore-based full services mid-market investment bank and financial advisory firm. The firm provides advice on mergers and acquisitions, raising capital, exit and transaction planning, business valuations, fairness and solvency opinions, loan workouts and debt restructurings, and distressed asset sales. HighBank was formed on a mission that our clients and our people deserve to have their highest expectations met and to receive higher value for their investments of money and time. For more information, visit

All investment banking services are provided by HighBank Securities LLC (“HBS”), a registered broker-dealer and member of FINRA and SIPC HBS is a wholly-owned subsidiary of HighBank Advisors.