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FY2012 Illinois


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Highlights

MBDA Helps Smart Medical Technology Secure $25 Million in Capital

Smart Medical Technology, Inc. (SMT) designs and manufactures medical and healthcare products that have impacted the evolution of healthcare services worldwide. Among its suite of products, SMT has patented, trademarked, and received Federal Drug Administration approval, and UL certification of its ground breaking lateral patient transfer system called the Liftaem™.

SMT came to the Chicago MBDA Business Center looking for capital and procurement opportunities and soon gained more than they expected. They attended a MBDA access to capital seminar on raising capital through private equity, including valuation and minority status considerations. Primed with information, SMT was ready to partner with the MBDA. MBDA worked with SMT to analyze offers from investment bankers, prepped the management team for presentations, and consulted throughout the fundraising process. As a result, SMT secured capital in the amount of $25 million. Their increased financing capabilities enabled them to purchase a new warehouse, create 300 jobs and retain 100 jobs.

Jobs

Performance





Minority Business Community At-A-GlanceA
Business Owner Number of Firms Gross Receipts ($1000s) Average Gross Receipts Paid Employees
African American  106,626 $6,840,718 $64,156 45,295
American Indian & Alaska Native  5,391 690,412 128,068 4,420
Asian American  59,367 18,485,950 311,384 102,991
Native Hawaiian & Pacific Islander  569 31,590 55,518 277
Hispanic American  56,567 10,337,194 182,742 77,449
All Minority  223,007 36,273,078 162,654 228,015






MBDA CLIENT ASSISTANCE BY SECTOR
 Private Sector Federal Government State Government Local Government Not Disclosed Total
Dollar Value of Contracts  $105,959,808 $5,284,000 –  $14,054,398 –  $125,298,206
Dollar Value of Capital  14,695,401 –  –  –  –  $14,695,401
Number of Contracts  57 1 –  4 –  62
Number of Capital Transactions  15 –  –  –  –  15
TOTAL TRANSACTIONS  72 1 –  4 –  77



MBDA CLIENT ASSISTANCE BY INDUSTRY  
  Number of Transactions Value of Transactions
Agriculture, Forestry, Fishing & Hunting 3 $1,897,250
Construction 20 22,075,781
Manufacturing 10 10,011,650
Retail Trade 2 83,000
Services 6 10,138,441
Transportation, Warehousing & Public Utilities 3 42,044,946
Wholesale Trade 33 53,742,539

 

» Download FY2012 Report for Illinois

» Download FY 2012 Annual Report

» References

Did you know...

Between 2002 and 2007, minority-owned firms outpaced the growth of non-minority firms in gross receipts, employment, and number of firms. Minority firms are an engine of job creation.
Graph for MBE Growth

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