Unisense FertiliTech A/S Secures 24 Million USD in New Capital Investment
AARHUS, Denmark, December 13, 2012 /PRNewswire/ --
Danish medtech company Unisense FertiliTech A/S announces a new partnership with Oticon Funds investment company William Demant Invest (WDI). WDI owns 32% of Unisense FertiliTech A/S after the purchase of new and existing shares in the company worth 24 million USD.
Unisense FertiliTech A/S develops and manufactures products to improve treatment in the field of assisted reproduction. The company has expanded rapidly in the past 2 years, operating in more than 30 countries worldwide. In addition to the current hardware and software product offerings, there is an exciting pipeline of products under development which hold significant commercial potential within the IVF industry.
With this new partnership and investment, the company will be in an excellent position to execute its long term development strategy and to accelerate the global expansion of sales of FertiliTech's existing and new products geared towards improving clinical practice in the field of IVF.
"We welcome WDI as an extremely knowledgeable, financially strong and experienced investor with a proven track record in the medtech field. We also look much forward to the benefits and synergies that can be achieved when applying extensive experience from the hearing aid industry to the area of assisted reproduction", says Unisense FertiliTech A/S CEO, Jens Gundersen.
William Demant Invest's CEO, Niels Jacobsen is very satisfied with the new investment and future goals: "We see excellent possibilities with FertiliTech. It is a very professionally driven organization with a huge potential. In addition, their products and company profile are a good fit with our existing portfolio".
About Unisense FertiliTech A/S (UF)
Unisense FertiliTech A/S was founded in 2003 to develop technology to improve human embryo assessment in assisted reproduction. Initial research using bovine models led the way to collaborations with embryologists in Europe and North America to evaluate our technology for use with human embryos. Towards this end, an instrument incorporating a fully stable incubation environment with integrated time-lapse image acquisition was developed.
Unisense FertiliTech A/S manufactures and sells state-of-the-art instrumentation notably the EmbryoScope® Time-lapse system, the EmbryoViewer® Workstation (Software) and related products, which are EU approved and FDA cleared for clinical use in IVF laboratories. Unisense FertiliTech A/S conforms to the requirements in DS/EN ISO 13485:2012 for production, installation and servicing of IVF incubators and related accessories
The company is involved in numerous international collaborations, and strives to develop embryo assessment algorithms to improve embryo selection and workflow in the assisted reproduction laboratory. Our goal is to promote knowledge building through extensive documentation and retrospective analysis. We are dedicated to providing technology to improve IVF treatment through quantification of embryo development patterns.
About William Demant Invest
WDI is a wholly owned subsidiary of the Oticon Foundation and has consolidated financial statements with the Oticon Foundation. The objective of the Oticon Foundation's investment activities is to achieve a long-term stable return that will secure the Oticon Foundation's capital its obligations under section 3 of the foundation charter. To achieve this, the financial long-term goals are to maintain or increase the real value of investment assets and to provide a relatively stable return to be used for donations and grants.
The Oticon Foundation's statutes mandate that income be used to support the needs of hearing-impaired individuals as well as organizations. Income is derived through its operational activities in William Demant Invest.
Having a long history, the Oticon Foundation sponsors social and educational programs, publications, conferences, cultural activities and campaigns - both for researchers, hearing-care professionals and the general public.
SOURCE Unisense FertiliTech A/S