Trustar Capital has made an investment in MedAlliance, a Swiss medical technology company. No financial terms were disclosed. Haiwen & Partners provided legal advice to Trustar Capital on the transaction.
(Hong Kong, 17 March 2021) Trustar Capital (formerly known as CITIC Capital Partners), a private equity affiliate of CITIC Capital Holdings Limited, announced that it has completed its investment in Swiss-based global leading medical technology company MedAlliance SA (‘The Company’ or ‘MedAlliance’), becoming MedAlliance’s single largest shareholder. The investment will be used to fund the commercialization and roll-out of MedAlliance’s key product SELUTION SLRTM.
Headquartered in Nyon, Switzerland, MedAlliance is dedicated to developing and manufacturing of innovative drug-eluting balloons (DEBs) for patients suffering from life-threatening coronary and peripheral arterial disease. Using breakthrough proprietary technology, MedAlliance has found a unique solution to the challenge of controlled and sustained sirolimus release with SELUTION SLR TM. The unique technology has demonstrated impressive clinical trial results and is the first DEB company in the world to receive US Food and Drug Administration (FDA) Breakthrough Device Designation Status for a coronary DEB. Recently MedAlliance has received the fourth breakthrough designation award by FDA for its sirolimus DEB. MedAlliance’s technology is now available In Europe and other countries that recognize CE Mark and is in the process of completing FDA registration in the U.S. Cardiovascular diseases (CVDs) are the number 1 cause of death globally. “Global Burden of Cardiovascular Diseases and Risk Factors, 1990–2019”, a report from J Am Coll Cardiol showed that total number of CVDs cases reached 523 million in 2019. According to a study published by the National Center for Cardiovascular Diseases in September 2020, there has been continued growth in the number of patients with cardiovascular disease in China. The demand for quality treatment and the development of newer technology related to coronary and peripheral diseases will continue to rise, especially in markets like China. MedAlliance has already commenced clinic trials of its core product SELUTION SLR TM in the Chinese market, and will continue to actively expand its footprints there.
“We are very pleased to have Trustar as a valued partner and to have established a strong relationship with their team over a substantial period of time. Their in-depth knowledge and expertise in the global medical device market will be of tremendous benefit to us”, said Jeffrey B. JUMP, Chairman and CEO of MedAlliance. “Validation from this highly successful and respected organization represents a significant endorsement of both our technology and our team and will help us to improve and extend the lives of patients around the world.”
Boon CHEW, Senior Managing Director and Managing Partner of Trustar Capital, said: “The global market size for medical devices addressing coronary and peripheral diseases has increased in recent years. In particular, we have seen exciting breakthroughs in technological development and clinical adoption in the interventional device space.
MedAlliance has a very solid team of seasoned veterans with strong R&D capability and has successfully developed innovative products that lead the market in terms of technology and registration progress. We have been closely following MedAlliance for a considerable amount of time and have established a strong relationship with its management team. We are excited to be working together and will continue to bring good news to coronary and peripheral disease patients worldwide.”
Haiwen & Partners provided legal advice to Trustar Capital on the transaction.
Founded in 2008, MedAlliance is a privately-owned medical technology company. It is headquartered in Nyon (Switzerland), with facilities in Irvine (California), Glasgow (UK) and Singapore. MedAlliance specializes in the development of ground-breaking technology and commercialization of advanced drug device combination products for the treatment of coronary and peripheral artery diseases. For further information, please visit https://medalliance.com.