NBGI Ventures’ Portfolio Company EOS Imaging Raises Over €38 million in Heavily Oversubscribed IPO on NYSE Euronext
IPO is the third significant milestone for the NBGI Ventures portfolio in the last six months
UK – NBGI Ventures, the specialist investment arm of NBGI Private Equity and
Europe’s only venture capital fund investing exclusively in medical device
companies, announces that its portfolio company EOS Imaging, which has
developed the world’s first 3D full-view, weight-bearing orthopaedic imaging
system, has raised over €38 million in a successful and heavily oversubscribed
public offering of shares on the NYSE Euronext. Based on the opening trade
price, the Company is valued at approximately €120 million, reflecting
substantial value creation since NBGI Ventures’ original investment in 2007.
The success of the IPO confirms EOS Imaging’s outstanding technology pedigree, its sound commercial and clinical proposition and its potential for strong commercial growth on a global level.
Aris Constantinides, Investment Director of NBGI Ventures, stated: “At the time we first invested in the Company, we recognised the potential to create a global business. Since then, we have made a significant contribution to the business operationally, including introducing its current Chairman, Stephane Sallmard, and in working closely with management in developing its commercial model. The successful IPO now positions EOS Imaging for the next stage of its development.”
Stephane Sallmard added: “The quality and energy of CEO Marie Meynadier and her team, as well as the continuous support of NBGI Ventures and our other investors, have been crucial to the growth of the business and to the achievement of the IPO.”
The success of the EOS Imaging IPO follows two other significant recent developments in the NBGI Ventures portfolio. Last month Reverse Medical announced the sale of its access catheter lines businesses to Covidien, the proceeds of which generated a substantial return to its investors and will contribute to the future growth of the business. In addition, Technolas Perfect Vision recently entered into a definitive agreement providing Bausch & Lomb with an option to purchase the company for a total value of up to €450 million, based on the achievement of certain milestones and earnouts.
Constantinides concluded: “We are very
pleased to have commenced 2012 with these promising transactions and I hope the
year ahead will see further milestones being met by our portfolio and the
companies within it.”
Merlin (PR for NBGI Private Equity) +44 (0)20 7 726 8400
Rachel Thomas +44 (0)7787 504 447
Del Jones +44 (0)7787 183 306
- Aris Constantinides +44 (0)20 7634 1921