Omegawave Receives Financing from KITE CAPITAL

Portland, Oregon, USA/Munich, Germany, May 19, 2007 – Omegawave announces it has completed a first growth financing round with KITE CAPITAL. The investment was led by Christian B. Mueller, founder of KITE CAPITAL. Other investors include Dr. Roman Rittweger, founder of Advisors in Healthcare, and senior executives of three leading European private equity firms. As part of today’s announcement, Omegawave appointed Christian B. Mueller and Dr. Roman Rittweger to the company’s management committee.

Omegawave is the world leader in human performance monitoring and optimization systems. It will use funds received for building sales and marketing efforts, and product development. Omegawave’s global client base, acquired without any significant sales efforts since the company’s foundation in 2001, includes Olympic committees, and soccer teams such as AC Milan and FC Barcelona. Clients also include leading healthcare professionals.

Omegawave Sport, the company’s current flagship product, allows for fast (few minutes test length), easy, non-invasive, non-stressful, and mobile testing of major human biological systems. On the basis of primarily ECG and EEG signals collected from a test subject, Omegawave’s algorithms calculate and show current status of the subject’s cardiac and autonomic functions, energy systems, central nervous system and regulatory mechanisms. Proprietary algorithms were built upon decades of research and intense work with elite sports professionals.

"Omegawave has developed great technology and is already well recognized at leading sports institutions. They have enormous market potential in professional and semi-professional sports, fitness and wellness markets, and professional healthcare markets. Omegawave has the chance to build a great business model: internet- and wireless data transmission, subscription-based revenue models, continuous guidance with training, nutrition, and general life-style choices for consumers; plus over a long-term identifying and leveraging enormous potentials in professional healthcare markets." says Christian B. Mueller, founder of KITE CAPITAL.

"We are very pleased to have KITE CAPITAL, and in particular Christian and Roman as members of our management committee, help us with the realization of our company’s potentials. Our strongest demand and customer base to date has been in Europe and their backgrounds fit well into that. Roman brings with him longstanding experience in healthcare. Christian recognizes the exceptional market potentials of our technology and we are looking forward to working with him on future financing rounds." says Allen K. Huffstutter, president of Omegawave.

About KITE CAPITAL
KITE CAPITAL, a venture capital firm based in Munich, was founded by Christian B. Mueller in 2006. Prior to founding KITE CAPITAL, Christian was the youngest co-founder of a private equity firm in Germany, assuming a leading role in building AUCTUS. At AUCTUS, he orchestrated investments in TIME PARTNER, a temporary staffing group, which made nine bolt-on acquisitions within two years, boosting sales from EUR 20 million to EUR 200 million. Following this, Christian oversaw the refinancing of TIME PARTNER by Investcorp, which valued the company at EUR 250 million and returned eighteen times the original equity investment to AUCTUS funds. Before that, Christian helped make venture capital and private equity investments for Granville Baird Capital Partners, including mobile.de, Nobis Dienstleistungen, Westfalia Automotive, Apptimum. He started his career with Merrill Lynch. For more information visit: www.kitecapital.com.

About Advisors in Healthcare
Advisors in Healthcare, based in Munich, was founded by Dr. Roman Rittweger. Advisors in Healthcare is a specialized healthcare advisory firm supporting companies and investors with market oriented strategies in marketing and sales, business development, and mergers and acquisitions. We work with seasoned and experienced partners to build optimal solutions for clients’ challenges. Before founding Advisors in Healthcare, Dr. Roman Rittweger was Managing Partner at BBDO Consulting, heading the group’s German healthcare practice. Prior to that, he was Founder and CEO of ArztPartner, an innovative disease management services firm, which was sold to DKV, Europe’s largest private payor, in 2001. Roman studied medicine and started his career in management consulting with A.T. Kearney and McKinsey & Co. He holds an MBA from INSEAD. For more information visit: www.advisorsinhealthcare.com.

Omegawave
205 Spokane Street, Suite 309
Portland, OR 97202
USA
www.omegawave.com

Press contact:
Allen Huffstutter, President
T +1-503-546-2668

Omegawave is the world leader in human performance monitoring and optimization systems. It will use funds received for building sales and marketing efforts, and product development. Omegawave’s global client base, acquired without any significant sales efforts since the company’s foundation in 2001, includes Olympic committees, and soccer teams such as AC Milan and FC Barcelona. Clients also include leading healthcare professionals. For more information visit www.omegawave.com

This release was published on openPR.