HONG KONG, July 18, 2016 /PRNewswire/ -- Ally Bridge Group ("ABG"), a leading China-global cross-border healthcare-focused investment group, is pleased to announce the sale of its entire stake in Medtech SA ("Medtech" or the "Company") to Zimmer Biomet Holdings, Inc. ("Zimmer Biomet"), a leading global orthopedics company based in Warsaw, Indiana, USA. Medtech is a surgical robot company headquartered in Montpellier, France, listed on Euronext Paris Stock Exchange with the stock symbol ROSA. Medtech's product portfolio includes two innovative robots for minimally invasive brain and spine procedures ("ROSA Brain" and "ROSA Spine"). Both products are FDA approved and CE marked.
ABG, on a sole basis, completed a structured investment in Medtech SA in December 2015.
"This acquisition of Medtech by Zimmer Biomet is a powerful validation of the innovative technologies -- and an impressive global commercial footprint -- of the Company under the leadership of its Founder and CEO, Bertin Nahum," said Frank Yu, Founder, CEO and CIO of Ally Bridge Group. "We expect Zimmer Biomet's industry-leading position to enable Medtech's innovative minimally invasive surgical robots to reach a much greater number of patients suffering from neurological and spine disorders globally."
"Ally Bridge Group has been a true global partner -- and helpful to us particularly in China and the U.S.," said Bertin Nahum, Founder and CEO of Medtech SA.
About Ally Bridge Group
Ally Bridge Group ("ABG") is a global healthcare-focused investment group, founded and led by Mr. Frank Yu (formerly a Managing Director of Goldman Sachs and Och-Ziff Capital) with a global healthcare investment portfolio in China, the United States, and Europe and more than USD1 billion in assets under management. ABG excels in helping its portfolio companies to forge strategic/operational partnerships and mergers and acquisitions on a global basis. In 2015, ABG initiated, led and completed the US$3.3billion take-private of WuXi PharmaTech, a leading global life science service provider. In recent months, ABG, as a strategic investor, completed its investments in two US biotech companies Tesaro (TSRO) and Sorrento (SRNE) as part of a total transaction value of over USD300 million.
About Medtech SA
Founded in 2002 by Bertin Nahum and based in Montpellier, France, Medtech is a leader in the design, development and marketing of innovative robotic applications to assist surgeons during their medico-surgical interventions, thus contributing to the implementation of safer, more efficient, less invasive treatment.
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SOURCE Ally Bridge Group (HK) Limited