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27.7.2021 07:32:05 CEST | Business Wire | Press release

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TA Associates Announces Strategic Growth Investment in Elos Medtech

TA Associates, a leading global growth private equity firm, today announced it has completed a majority growth investment in Elos Medtech AB (NASDAQ STOCKHOLM: ELOS B), a leading innovative full-service contract development and manufacturing organization (CDMO) in the global medical device market.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210726005835/en/

Founded in 1923, Elos Medtech is headquartered in Gothenburg, Sweden with operations being conducted at facilities in Sweden, Denmark, China and the U.S. As a global solutions partner offering complete performance and vertical integration to leading medical device companies worldwide, Elos Medtech serves the dental, orthopaedic and life science markets. In long-term partnership with their customers, Elos Medtech provides sustainable and innovative products and supply solutions for the global medical device and life science market.

“We have followed Elos Medtech for several years and have been highly impressed by the company and its management team,” said Lovisa Lander, a Principal at TA. “Given its well-earned reputation for quality and reliability, we believe Elos Medtech is well-positioned to further grow market share as a partner of choice for leading medical technology and life science companies around the world. With our knowledge, network and financial resources, we believe that TA can support the investments that will be required to help the company continue its growth journey. We look forward to working with the Elos Medtech team to solidify its position as a global, high-quality development and manufacturing partner with a MedTech focus.”

“I am very pleased to welcome TA as the majority shareholder of Elos Medtech,” said Jan Wahlström, CEO of Elos Medtech. “Having completed more than 70 investments in healthcare businesses, including many in the medical device field, TA has the deep experience, network and global resources that we believe will prove highly beneficial at this stage of our growth. I thank all our shareholders as well as our skilled and motivated employees for their support of Elos Medtech and look forward to a close partnership with TA as we continue to further build a strong global group.”

“With a focus on innovation and precision, Elos Medtech has proven highly adept at meeting the varied demands and requirements of its target markets with turnkey solutions that add substantial value,” said Birker Bahnsen, a Managing Director at TA. “In line with the unanimous recommendation by the company’s board of directors, we believe that TA is well placed to support the investments required in the next phase of Elos Medtech’s journey. As long-term investors, we welcome the opportunity to help the company achieve its strategic goals and reach its full potential.”

Roschier served as legal counsel to TA.

Details of the Transaction

On June 11, 2021, TA (through a newly established company under name change to EM Intressenter AB) announced a public offer to the shareholders of Elos Medtech to tender all their shares in Elos Medtech to EM Intressenter for SEK 215 per share. On July 7, 2021, TA announced that the Offer would be completed and that the initial acceptance period, which ended on July 5, 2021, would be extended and open until July 14, 2021. The total amount of shares tendered in the Offer at the end of the extended acceptance period on July 14, 2021 amount in aggregate to approximately 79.5 per cent of the share capital and 65.0 per cent of the voting rights in Elos Medtech.

About Elos Medtech AB

Elos Medtech is a leading development and production partner for medical devices. Elos Medtech offers innovative comprehensive solutions, from concept to finished project, through its Complete Performance™ concept. Elos Medtech is active in the dental, orthopaedics, and life science market segments. For more information, please visit www.elosmedtech.com .

About TA Associates

TA is a leading global growth private equity firm. Focused on targeted sectors within five industries – technology, healthcare, financial services, consumer and business services – the firm invests in profitable, growing companies with opportunities for sustained growth, and has invested in more than 535 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in high quality growth companies. TA has raised $47.5 billion in capital since its founding in 1968 and is committing to new investments at the pace of over $3 billion per year. The firm’s more than 100 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong. More information about TA can be found at www.ta.com .

Important Notices

No United States of America securities regulatory authority has either approved or disapproved of the contents of this news release. This news release does not constitute an offer to sell, or a solicitation to buy, any securities of Elos Medtech in the United States of America or any other jurisdiction in which such offer or solicitation would be unlawful.

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