Earlier this month, Clayton VC firm, RiverVest Venture Partners announced portfolio company Securus Medical Group, Inc., has been sold to Boston Scientific Corporation (NYSE: BSX).

Boston Scientific has been an investor in Securus since 2016, and the transaction price for the remaining stake not already owned consists of $40 million in cash up-front, as well as up to $10 million in contingent payments based on regulatory achievements and commercial milestones.

Since RiverVest led Securus’ Series A financing round, the company has developed an FDA-cleared catheter-based probe with a real-time thermal mapping system that provides continuous monitoring of esophageal temperature during surgery.

In addition to its financial commitment, RiverVest provided hands-on support to accelerate Securus’ development. Karen Spilizewski, RiverVest vice president, served on the company’s board of directors, as did Nick Walrod, representing 3×5 Special Opportunity Fund, a RiverVest affiliate that led Securus’ Series B round.

“Securus is another example of our strategy working effectively,” said Spilizewski. “We identify promising early-stage companies, and we provide the guidance and expertise to speed them towards commercialization, making them attractive for sale.

“With the tremendous leadership of Securus CEO Steve Girouard and CTO and founder John Garibotto, Securus was able to validate its core technology in a system expected to change the standard of care for esophageal temperature monitoring.”

RiverVest’s Fund II and the 3X5 Special Opportunity Fund invested in Securus, along with a number of other investors including Cleveland Clinic Foundation, Jumpstart, and the University of Michigan. Boston Scientific joined as an investor in 2016 when it led the company’s $10 million Series C financing.

Cleveland-based Securus is the 9th company to exit from RiverVest’s Fund II, which had total commitments of $75 million. With the Securus sale, total Fund II proceeds to date from these exits total $200 million.

RiverVest Fund II’s earlier exits include:

1. San Diego, CA-based Mpex Pharmaceuticals, Inc. (biopharma) sold to Aptalis Pharma, which was subsequently acquired by Forest Laboratories, Inc. (NYSE: FRX)
2. San Diego, CA-based Excaliard Pharmaceuticals, Inc. (biopharma) sold to Pfizer Inc. (NYSE: PFE)
3. Minneapolis, MN-based Lutonix, Inc. (medical device) sold to C.R. Bard, Inc. (NYSE: BCR)
4. San Clemente, CA-based Cameron Health, Inc. (medical device) sold to Boston Scientific Corporation (NYSE: BSX)
5. Houston, TX-based IDEV Technologies, Inc. (medical device) sold to Abbott Laboratories (NYSE: ABT)
6. San Diego-based Lumena Pharmaceuticals, Inc. (biopharma) sold to Dublin-based Shire plc
7. Fort Worth, Texas-based ZS Pharma, Inc. (biopharma) completed initial public offering, then sold to a subsidiary of London-based AstraZeneca
8. San Diego-based Otonomy, Inc. (biopharma) completed initial public offering