Esco Group Acquires AT Medical UAB, to Enhance Esco Life Sciences Ecosystem
Thursday, 14 June 2018, 19:25 IST
Singapore based life science eco-system builder will acquire the remaining shares of AT Medical UAB, a leading developer of innovative IVF medical products distributed under the Esco ownership.
Comprising over 30 companies and more than 1000 employees, Esco Group’s operating businesses are in life sciences equipment, medical devices, and more. With a vision to invent, discover and commercialize enabling technologies to make human lives better and healthier, Esco Ventures X build biotech startups on the basis of in-house inventions and academic technologies. XQ Lin, Group President & CEO, Esco Group, says, “We are extremely excited to welcome AT Medical to the Esco family. 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."
As per the agreement, Esco Micro, the primary operating entity of Esco Group, makes an undisclosed payment of the remaining shares in AT Medical UAB and the acquisition price represents a ~16X ROI multiple on the first investment Esco made into AT Medical UAB. Thomas Pedersen, co-CEO, Esco Medical, says, “The partnership with Esco Ventures and Esco Group has been a very fruitful one, enabling us to deliver our innovative technologies, designed and made in Europe, to the global markets, impacting over 100,000 live births annually." AT Medical UAB was founded by a group of professionals with rich experience in research, development, manufacturing and regulatory affairs.
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