HONG KONG, June 10, 2015 /PRNewswire/ — Ally Bridge Group (“ABG”), a leading China-global cross-border healthcare-focused investment group – which announced a USD3.3 billion proposed take-private offering for Wuxi Pharmatech (NYSE: WX) on April 30, 2015 – is pleased to announce that it has completed six new investments in medical technology companies based in China and the U.S. Each of these companies has the opportunity to redefine the standard of care for its respective treatment segment, and ABG is proud to support their efforts with its unique China-global cross-border strategies.
Among these six companies, two have already begun generating healthy financial returns in a short period of time. These two companies include (1) China-based Wing Tai Holdings Ltd. (HKSE: 876), which became the only Chinese dental implants and devices platform listed on the Hong Kong Stock Exchange in May 2015, and (2) U.S.-based EndoChoice (NYSE: GI), a rapidly-growing provider of innovative gastro-intestinal (GI) products, which successfully completed its initial public offering on June 5, 2015; ABG invested in both the Series E financing in March 2015 and in the IPO for EndoChoice.
Four other medtech investments include:
- NxThera, Inc. – a company that has developed an innovative, outpatient water vapor debulking procedure for BPH (benign prostate hyperplasia); the technology has been approved in Europe with a CE Mark and is now awaiting U.S. FDA approval.
- Neuroverse, Inc. – a neurotechnology company developing integrative brain assessment solutions for both healthcare and everyday life applications.
- Conventus Orthopedics – an orthopedics manufacturer that has developed a novel, minimally invasive implant solution for extremity fracture management.
- Shockwave Medical – a company that has developed a first-in-kind lithoplasty (lithotripsy) system designed to address calcification in arterial vessels and coronary heart valves.
“Ally Bridge Group continues to invest in truly disruptive medtech companies globally as well as leading local platforms in China, and adds value by driving cross-border market access and partnerships,” said Frank Yu, ABG’s Founder, CEO and CIO. “We pioneered this value-add cross-border investment strategy in 2011, when we invested in LifeTech Scientific (HKSE: 1302), a China-based medtech company, and then helped the company cement a landmark partnership with Medtronic, which has generated exceptional investment returns. We have executed multiple successful value-add investments since and remain uniquely positioned to help U.S. and European portfolio companies with outbound strategies to Asia. Simultaneously, we help leading Chinese healthcare platforms access innovative technologies globally. This unique strategy has been a critical driver of the outstanding returns generated by our healthcare investments across ABG’s funds and affiliates.”
More on ABG’s Recent MedTech Investments
Wing Tai Holdings Ltd. (Shenzhen, China; soon to be re-named Mega Medical Technology Ltd.) is a leading Chinese manufacturer of restorative and prosthetic dental products, including dentures, veneers, crowns, and bridges. The company (HKSE: 876) is the first Chinese dental company to be listed on the Hong Kong Stock Exchange, following the acquisition of Royal Dental Labs in May 2015.
EndoChoice (Atlanta, GA, U.S.; www.endochoice.com) is a medtech company focused on the manufacturing and commercialization of platform technologies including endoscopic imaging systems, devices and infection control products and pathology services for specialists screening, diagnosing and treating a wide range of gastrointestinal conditions, including colon cancer. EndoChoice leverages its direct sales organization to serve more than 2,500 customers in the United States and works with distribution partners in 25 countries. The Company was founded in 2008 and has developed a broad and innovative product portfolio, which includes the Full Spectrum Endoscopy System (Fuse®). EndoChoice completed its successful initial public offering (IPO) on June 5, 2015 (NYSE: GI).
NxThera, Inc. (Maple Grove, MN, U.S.; www.nxthera.com) has pioneered the application of its Convective Water Vapor Energy (WAVE™) technology platform in a variety of endourologic conditions beginning with BPH, and including prostate and kidney cancer. NxThera’s Rezūm System uses sterile water vapor, or steam, to convectively deliver targeted, precise thermal treatments to men suffering from BPH in a simple, minimally invasive procedure designed to take only minutes, done in an office, outpatient or hospital setting, with minimal discomfort, and provide improvements in symptoms, urinary flow and quality of life.
Neuroverse, Inc. (San Diego, CA, U.S.; www.neuroverse.com) is a neurotechnology company dedicated to developing mental and neural assessment multi-use solutions. Bringing a novel integrative brain interface platform, its technology allows for mobile and easy-to-use applications spanning from mental health to education and entertainment
Conventus Orthopedics, Inc. (Maple Grove, MN, U.S.; www.conventusortho.com) is advancing a novel minimally invasive, extremity fracture implant platform. The company is commercializing their FDA and CE Mark-approved implants for both shoulder and wrist fractures. Conventus was founded by a team of medical device professionals and physicians with the sole purpose of improving patient care by creating a platform technology with less invasive solutions to a broad range of challenging peri-articular fractures. Taking its name from the Latin word for coming together or union, Conventus Orthopaedics is focused on creating less invasive solutions for fractures in and around the joints.
Shockwave Medical (Fremont, CA, U.S.; www.shockwavemedical.com) is pioneering Lithoplasty® technology, a promising breakthrough for the treatment of peripheral and coronary vascular disease and aortic stenosis. Delivered on a standard balloon catheter platform, Lithoplasty combines the calcium disrupting power of lithotripsy with the familiarity and simplicity of a balloon in a single enabling device.
