That is the second time I have read or heard that the potential M&A partner is a venture fund. I specifically asked that question yesterday and was told that "no the prospective partner is a corporation in a related business."

However, if there is an offer from a venture fund, that may be a good thing or a bad thing. A good thing because the fund would realize they could not run a regulated medical device company and would deem to flip it, or a bad thing because a venture fund would first attempt to maximize profit on their investment and could decide to sell off the parts. And unfortunately that's how these funds make their quick money these days. Better hope management is smart enough to not deal with a venture fund unless as a last resort who makes an irresistible deal.