German medical and pharmaceutical device firm B. Braun Melsungen has agreed to invest in Trendlines Medical Singapore.
The companies have signed a definitive investment and cooperation agreement, under which B. Braun will be a minority shareholder in Trendlines Medical Singapore holding 20.74% stake.
Trendlines will will own the remaining 79.26% stake. B.Braun’s board members including president of B.Braun Asia Pacific, Anna Maria Braun, B. Braun's Aesculap Division Business Development director, Boris Hofmann will be joining the Trendlines Medical Singapore board of directors.
Anna Maria Braun said: "Our investment in Trendlines Medical Singapore signifies our commitment to making a significant contribution to medical advancements by promoting the development of new medical products and technologies that meet the challenges in today's complex health care landscape and allow us to share expertise."
Trendlines chairman and CEO Todd Dollinger said: "This agreement with B. Braun further advances our strategic relationship with B. Braun, a relationship now nearly five years old.
“B. Braun was the cornerstone investor in our initial public offering and has invested in several of our portfolio companies.
“We welcome B. Braun's investment in Trendlines Medical Singapore as another opportunity to work closely together to develop growth opportunities for innovative medical device technologies in Singapore and the greater Asia-Pacific region."
B. Braun is a manufacturer of healthcare solutions which offers its expertise in 18 therapeutic areas. The company was established in 1839 and as of 2015, it has its presence in 64 countries with sales grossing €6.13bn.
Trendlines Medical Singapore is a start-up incubator for medical technology, established in 2016.