A prominent name in Calgary’s technology industry, Circle Cardiovascular Imaging Inc. was sold to U.S.-based Thoma Bravo, one of the largest equity firms in the world, for $213 million. Osler, Hoskin & Harcourt advised Circle Cardiovascular with a team led by Shahir Guindi, Andrea Whyte, Lynne Lacoursière, Kelsey Armstrong, Hind Masri, and Peter Osmond. AGC Partners served as financial advisor to Circle Cardiovascular. Kirkland & Ellis and McMillan acted as legal advisor to Thoma Bravo, with John Kaercher and Martha Todd leading the Kirkland team. Deutsche Bank provided financing. Circle Cardiovascular considered an initial public offering before the plans changed. “We’re very happy we didn’t hit the public markets given what’s happened to technology companies that have listed on the TSX,” Circle Cardiovascular Imaging CEO Greg Ogrodnick said, referring to the below issue price trading of 15 out of 16 technology companies that went public on the Toronto Stock Exchange. “Even though we would have had the cash in the bank to execute on our business plan with a successful IPO, the currency of our stock would certainly not have been there to help where we wanted to go,” Ogrodnick added.