Mundomedis announced it has closed on the acquisition by its wholly-owned portfolio company, Tennessee Medical Innovations Inc. (TNMI), of substantially all assets of Insightra Medical Inc., a US-based medical device manufacturer.
Insightra Medical was founded in 2001 and develops, manufactures and markets innovative medical devices for orthopedic, cardiovascular and hernia related medical procedures. It also has promising new devices in its research and development pipeline. As a part of this acquisition Mundomedis will become the main shareholder of Insightra’s Indian subsidiary “Insightra India Pvt. Ltd”.
Mundomedis CEO and President of TNMI, Kai Trompeter, explains: “The acquisition of the Insightra business will form the basis to build out TNMI as Mundomedis’ platform company for innovative medical devices. Through the acquisition we gain access to a legacy distributor network in over 40 countries and a business which has shown strong revenue growth over the recent years. Our decision to take direct ownership of Insightra India is based on our strategy to build and grow the Indian operation as a stand-alone business, as we see multiple exciting opportunities and synergies for Mundomedis in the Indian market.”
The acquisition of the Insightra business by TNMI was fully funded through equity capital provided by Mundomedis.
Mundomedis is a global incubator for startup and early-stage medical device companies and serves as a growth accelerator for more advanced medical device companies. Located in Dubai Silicon Oasis, a fully integrated technology park with the aim to foster technology and entrepreneurship, Mundomedis utilizes its global network of strategic partners, distributors, manufacturers and healthcare providers to:
- Raise Capital
- Assist and drive M&A strategies
- Develop global sales and marketing strategies
- Build and expand distribution channels
- Source suppliers and assist in outsourcing production
- Support in Regulatory Affairs
For more information about Mundomedis visit: www.mundomedis.ae.