MISGAV, Israel and TUTTLINGEN, Germany, December 21, 2016 /PRNewswire/ --
The Trendlines Group Ltd. (Trendlines) (SGX: 42T, OTCQX: TRNLY) and B. Braun Melsungen AG (B. Braun) announced that multinational healthcare company B. Braun and Trendlines have executed a definitive investment and cooperation agreement relative to Trendlines Medical Singapore Pte. Ltd. (Trendlines Medical Singapore), a wholly-owned subsidiary of Trendlines.
Under the agreement, B. Braun will be a minority shareholder in Trendlines Medical Singapore holding 20.74%, with Trendlines being the majority shareholder holding the remaining 79.26%. Ms. Anna Maria Braun, President of B. Braun Asia Pacific and a member of the B. Braun management board, and Professor Dr. Boris Hofmann, Director of Business Development for B. Braun's Aesculap Division, are joining the Trendlines Medical Singapore board of directors. Todd Dollinger, Chairman and CEO of Trendlines, is the chairman of Trendlines Medical Singapore and Steve Rhodes, Chairman and CEO of Trendlines, is chairman of Trendlines Medical Singapore's investment committee.
Ms. Anna Maria Braun notes, "Our investment in Trendlines Medical Singapore signifies our commitment to making a significant contribution to medical advancements by promoting the development of new medical products and technologies that meet the challenges in today's complex health care landscape and allow us to share expertise."
Mr. Eric Loh, CEO of Trendlines Medical Singapore, adds, "The agreement with B. Braun gives further impetus to the launch of Trendlines Medical Singapore. Not just will B. Braun's investment contribute to the financial strength of the incubator, but B. Braun's expertise in the medical device field provides an additional layer of know-how for our startup companies, including technology development, support in regulatory, medical and scientific affairs, and marketing and sales.
Commenting on the completion of the Definitive Agreement with B. Braun, Mr. D. Todd Dollinger, Chairman and CEO of Trendlines, said, "This agreement with B. Braun further advances our strategic relationship with B. Braun, a relationship now nearly five years old. B. Braun was the cornerstone investor in our initial public offering and has invested in several of our portfolio companies. We welcome B. Braun's investment in Trendlines Medical Singapore as another opportunity to work closely together to develop growth opportunities for innovative medical device technologies in Singapore and the greater Asia-Pacific region."
About B. Braun Melsungen AG
B. Braun is one of the world's leading providers and manufacturers of healthcare solutions today. Every service that B. Braun provides incorporates the entirety of its knowledge and skills, the company's deep understanding of users' needs, and extensive expertise since 1839. With its constantly growing portfolio of effective medical care solutions in 18 therapeutic areas, B. Braun makes a substantial contribution towards protecting and improving people's health. In 2015, the group had over 56,000 employees in 64 countries, and generated sales of approximately €6.13 billion.
About The Trendlines Group Ltd.
Trendlines is an innovation commercialization company that invents, discovers, invests in, and incubates innovation-based medical and agricultural technologies to fulfill its mission to improve the human condition. As intensely hands-on investors, Trendlines is involved in all aspects of its portfolio companies from technology development to business building. Trendlines' shares are traded on the Singapore Stock Exchange (SGX: 42T) and in the United States as an American Depositary Receipt (ADR) on the OTCQX (OTCQX: TRNLY).
About Trendlines Medical Singapore Pte. Ltd.
Trendlines Medical Singapore is a medical technology start-up incubator established in 2016 by Trendlines and B. Braun, one of the world's leading global medical device players. Trendlines Medical Singapore discovers, invests in, incubates, and provides a range of services to nurture and develop Singapore-based entrepreneurs and start-up companies involved in novel medical devices and technologies with a view toward success in the global market.
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SOURCE The Trendlines Group Ltd. and B. Braun Melsungen AG