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Vascular Device Maker Sahajanand
Medical Technologies Files DRHP With SEBI
Sahajanand Medical Technologies Limited, a leading medical
devices company that researches, designs, develops, manufactures and markets
vascular devices globally has filed its Draft Red Herring Prospectus (DRHP) with
market regulator Securities and Exchange Board of India (SEBI).
The company plans to raise Rs 1,500 crore via initial public
offering (IPO) through fresh issue aggregating up to Rs. 410.33 crore and an
offer for sale (OFS) aggregating up to Rs. 1,089.67 crore by selling
shareholders.
Sahajanand Medical Technologies is amongst the top five
companies in terms of market share (by sales volume of drug eluting stent or
DES) in each of Germany, Netherlands, Italy and Poland, as of March 31, 2021,
according to Frost & Sullivan. The company has a leading market share of 21 per
cent, 25 per cent and 31 per cent in fiscals- 2019, 2020 and 2021, respectively,
of the total drug eluting stent sales volume in India.
The OFS comprises equity shares aggregating to Rs. 100 crore
by Dhirajkumar S Vasoya, equity shares aggregating up to Rs. 33.75 crore by
Shree Hari Trust (acting through its trustee), equity shares aggregating up to
Rs. 635.56 crore by Samara Capital Markets Holding Limited and equity shares
aggregating up Rs. 320.36 crores by Nhpea Sparkle Holding BV.
The company proposes to utilise net proceeds from the issue
towards making repayment/pre-payment, of certain indebtedness availed by company
and its subsidiaries up to an estimate amount of Rs. 255 crore and funding
working capital requirement of its indirect foreign subsidiaries, vascular
innovations up to an estimate amount of Rs. 40.3 crore and the balance amount
for general corporate purpose.
The book running lead managers to the offer are Axis Capital
Limited, BofA Securities India Limited, Edelweiss Financial Services Limited and
UBS Securities India Private Limited.
The equity shares are proposed to be listed on BSE and NSE.
http://pharmabiz.com/NewsDetails.aspx?aid=142895&sid=2
Abbott Acquires Walk Vascular A
Commercial-Stage Medical Device Company
The acquisition builds Abbott's vascular portfolio, adding
mechanical thrombectomy devices for treating patients with peripheral blood
clots.
Abbott, a global healthcare leader, announced that it has
acquired Walk Vascular, LLC, a commercial-stage medical device company with a
minimally invasive mechanical aspiration thrombectomy system designed to remove
peripheral blood clots.
Walk Vascular's peripheral thrombectomy systems will be
incorporated into Abbott's existing endovascular product portfolio. Financial
terms were not disclosed.
"The acquisition of Walk Vascular fits well into our leading
vascular device offerings and further drives Abbott's ability to provide
one-of-a-kind endovascular therapy solutions to improve patient care," said
Julie Tyler, Senior Vice President of Abbott's vascular business.
"Walk Vascular's technology provides physicians with tools to
efficiently remove dangerous clots from blood vessels to improve patient care."
Walk Vascular's JETi Peripheral Thrombectomy System and
next-generation JETi AIO (All In One) Peripheral Thrombectomy System are unique
aspiration systems for the removal of intravascular clots, known as thrombus,
that can reduce blood flow and lead to serious complications for patients.
The innovative JETi systems are designed to break-up and
remove clots from the peripheral vascular system while reducing the risk of
dislodged clots. The systems are backed by real-world clinical experiences, and
Walk is currently enrolling up to 250 patients in the United States and Europe
in the JETi Registry.
Both the JETi Peripheral Thrombectomy Systems have received
510(k) clearance from the US Food and Drug Administration (FDA) for the
aspiration and breaking up of soft emboli and thrombus from the peripheral
vasculature, as well as CE Mark in Europe and approvals in other countries.
https://health.economictimes.indiatimes.com/news/medicaldevices/abbott-acquires-walk-vascular-a-commercial-stagemedical-device-company/8588946
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