14 June 2018 | News
Esco Group to acquire AT Medical UAB, an Esco Ventures portfolio company, to accelerate development of the Esco life sciences ecosystem and delivery of innovative fertility technologies
Esco Group has entered into an agreement to acquire the remaining shares in AT Medical UAB, an Esco Ventures portfolio company.
AT Medical UAB is the developer of innovative IVF medical devices whose products are currently distributed by Esco under the Esco Medical brand. The transaction is expected to close in June 2018.
"We are extremely excited to welcome AT Medical to the Esco family," commented XQ Lin, Group President & CEO of Esco Group. "This strengthens our commitment to innovation within the fast-growing fertility technologies market, leveraging the Esco Group's global network to accelerate product development and drive distribution. Furthermore, it is a successful example of Singaporean-European collaboration in the life sciences field."
The acquisition will bring together two companies committed to innovation as well as standardizing and automating IVF laboratory workflow and processes, enabling the world's leading IVF centers to achieve better clinical outcomes and patient satisfaction.
Under the terms of the agreement, Esco Micro Pte Ltd, the primary operating entity of Esco Group, will make an undisclosed payment for the remaining shares in AT Medical UAB. The acquisition price represents a ~16X ROI multiple on the first investment Esco made into AT Medical UAB.
SORAINEN is serving as Esco Group's legal counsel.