NBGI Ventures, the investment arm of NBGI Private Equity, has led portfolio company EOS Imagine through a €38 million (£31.5 million) IPO on NYSE Euronext.
NBGI Ventures, the investment arm of NBGI Private Equity, has led portfolio company EOS Imagine through a €38 million (£31.5 million) IPO on NYSE Euronext.
Having initially invested in France-based 3D digital x-ray business EOS Imagine in 2007, the flotation values the business at €120 million and sees NBGI Ventures retain its interest in the business.
London-based NBGI Ventures invests exclusively in medical device companies and currently has 12 companies in its portfolio with €100 million in total commitments under management.
Aris Constantinides, investment director at NBGI Ventures, comments, ‘At the time we first invested in the company, we recognised the potential to create a global business.
‘Since then we have made a significant contribution to the business operationally, including introducing its current chairman, Stephane Sallmard, and in working closely with management in developing its commercial model.’
Constantinides says the IPO now positions the business for its next stage of development.
Sallmard adds that the ‘quality and energy’ of CEO Marie Meynadier has been crucial to the growth of the business and its subsequent IPO.
The IPO marks the third deal of 2012 for NBGI Ventures following the sale of its catheter line division by portfolio company Reverse Medical Corporation in January. Additionally, Technolas Perfect Vision entered into an agreement with providing Bausch & Lomb with an option to purchase the company for a value of €450 million.
