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Madryn Asset Management Pumps $55MM Into Medical Device Firm Establishment Labs

August 31, 2017, 07:09 AM
Filed Under: Medical

Establishment Labs, a global medical device company focused on aesthetic technologies with a strong emphasis on product development and innovation, announced that it has closed a $55 million combined secured credit facility and equity investment with Madryn Asset Management.

“This transaction allows us to finance our research and development into next generation implants for breast augmentation and reconstruction surgeries, pursue expanded commercialization opportunities in markets where our Motiva Implants® have been approved, and support our proposed FDA Trial and entrance into the U.S. Market,” said Juan José Chacón-Quirós, CEO and Founder of Establishment Labs.

“As we continue our efforts to be a leader in breast aesthetics—not only in terms of innovation, but also in global sales—we are delighted to have the support and confidence of Madryn. Along with our other institutional shareholders, they have taken the time to understand what an extraordinary opportunity is in front of us, and they believe we are the company to drive this transformation in the medical aesthetics industry,” Chacón-Quirós concluded.

“We see tremendous value in Establishment Labs as a leader and an innovator in the global medical technology industry and are pleased to support the company in achieving its growth plans,” said Avinash Amin, Co-Founder and Managing Partner of Madryn.  “There is a wide unmet need for new technologies in breast aesthetics, with a specific focus on improved safety, better outcomes, and greater satisfaction.  We believe that the Company’s Motiva Implants together with its associated suite of breast augmentation products and services will bring advances to an industry that has seen little innovation in many decades.”

Madryn Asset Management is an alternative asset management firm that invests in innovative healthcare companies.

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