Trendlines Medical Singapore will focus on the incubation and commercialization of early-stage healthcare companies with a focus on Singapore and the region
B. Braun will invest in Trendlines Medical Singapore and along with Trendlines, support the development of portfolio companies, and actively consider follow-on investment opportunities in portfolio companies
Ms. Anna Maria Braun, President of B. Braun Asia Pacific, will join Trendlines Medical Singapore's board of directors
The first medical incubator established by an Israeli company in Singapore and Trendlines' first incubator outside of Israel
MISGAV, ISRAEL & SINGAPORE / ACCESSWIRE / September 8, 2016 / The Trendlines Group Ltd. ("Trendlines") (OTCQX: TRNLY, 42T.SI), an Israeli company focused on establishing and developing innovation-based companies in the medical and agricultural fields, and B. Braun Melsungen AG ("B. Braun"), one of the world's leading providers of healthcare solutions with 56,000 employees in 64 countries, jointly announced today that they have entered into a Memorandum of Understanding ("MOU"), under which B. Braun and Trendlines will jointly invest in Trendlines Medical Singapore PTE. Ltd. ("Trendlines Medical Singapore"), both parties will appoint members to Trendlines Medical Singapore's board of directors and investment committee, and B. Braun will advise on market needs and technical and commercial matters.
The incorporation of Trendlines Medical Singapore was previously announced on the Singapore Exchange on July 18, 2016. Trendlines Medical Singapore will be a platform for the investment in and incubation of early-stage healthcare companies with a focus on Singapore and the region.
B. Braun, as a co-investor of Trendlines Medical Singapore, will support the development of the portfolio companies by providing its expertise in the medical technology field, including technological development, regulatory, medical & scientific affairs, and marketing and sales.
Mr. Eric Loh has been appointed Chief Executive of Trendlines Medical Singapore. Mr. Loh has more than 20 years of experience in the medical device industry. Mr. Loh formerly served as senior vice-president at Biosensors International, an early-stage cardiovascular device company listed in Singapore, where he led corporate development and sales and marketing and commercialized Biosensors' products in the fast-growing Chinese market and other Asia Pacific markets. He was also involved in Biosensor's IPO on the Singapore Stock Exchange and in M&A transactions that advanced the company.
Ms. Anna Maria Braun, a deputy member of the Management Board of B. Braun, will become a member of the board of directors of Trendlines Medical Singapore. Ms. Braun is the President of B. Braun Asia Pacific, responsible for the business of the global pharmaceutical and medical technology company in the region, including one of the g,roup's largest manufacturing sites in the world with over 7,000 employees in Penang, Malaysia. Ms. Braun will share her healthcare industry expertise by providing advice and support to Trendlines Medical Singapore and its portfolio of companies, in areas related to B. Braun's activities.
Commenting on the establishment of Trendlines Medical Singapore, Mr. D. Todd Dollinger, Chairman and CEO of Trendlines, said, "We announced our plan to establish an incubator in Singapore as part of our international expansion strategy at the time of the IPO on the Singapore Stock Exchange. We are pleased that B. Braun, a strategic partner of Trendlines since our IPO, will participate in the development of the incubator and will enhance our collaboration in the global healthcare industry. The combination of Trendlines experience in business incubation, B. Braun's knowledge and industry insights and financial strength, gives strong support to the launch of Trendlines Medical Singapore."
Mr. Eric Loh, CEO of Trendlines Medical Singapore, added, "Trendlines Medical Singapore is our first incubator outside of Israel. Singapore offers a conducive environment for innovation commercialization, with a strategic location as a business hub in Asia, generation of innovative ideas from universities, research institutes and professionals in the medical field and great support from the Singapore government. By applying our business model and expertise in incubation beyond Israel, we can tap the growth opportunities in Singapore and the wider Asia-Pacific region, nurture the development of innovative technologies in the healthcare sector, and play a larger role in improving the human condition."
Commenting on the partnership, Ms. Anna Maria Braun, director of Trendlines Medical Singapore, and President of B. Braun Asia Pacific, said, "Asia is a strategic area of growth for B. Braun, given its dynamic and innovative environment for medical technology start-up companies. By continually sharing expertise in dialogue with our partners, B. Braun aims to protect and improve the health of people around the world. I am delighted with the forging of this partnership between B. Braun and Trendlines Medical Singapore, and look forward to the creation and advancement of innovative medical solutions to benefit customers and patients in Asia Pacific and the world."
About B. Braun
With over 56,000 employees in 64 countries, B. Braun is one of the world's leading manufacturers of medical devices and pharmaceutical products and services. Through constructive dialogue, B. Braun develops high quality product systems and services that are both evolving and progressive - and in turn improves people's health around the world. In 2015, the Group generated sales of approximately €6.13 billion.
About The Trendlines Group
The Trendlines Group is an innovation commercialization company that invents, discovers, invests in, and incubates innovation-based medical and agricultural technologies to fulfill its mission to improve the human condition. As intensely hands-on investors, Trendlines is involved in all aspects of its portfolio companies from technology development to business building. The Trendlines Group is traded on the Singapore Stock Exchange (SGX: 42T) and in the United States as an American Depositary Receipt (ADR) on the OTCQX (OTCQX: TRNLY).
Forward Looking Statement
Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the Company's actual operating results to be materially different from any historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as "believes," "belief," "expects," "expect," "intends," "intend," "anticipate," "anticipates," "plans," "plan," to be uncertain and forward looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's filings with the Securities and Exchange Commission.
Investor Contact Information:
Judith Kleinman, Director, Investor Relations & Corporate Communications
Adam Holdsworth, Managing Director of Investor Relations
SOURCE: The Trendlines Group