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Thursday, 19 April 2018 11:51

Value Italy sells its stake in Esaote S.p.A.

 On April 18, 2018 Value Italy SGR S.p.A., on behalf of the closed-end fund MPVenture 2, alongside the other Esaote’s shareholders representing 100% of the share capital, has closed the sale of its shares in Esaote S.p.A. to a consortium of leading Chinese investors (the “Consortium”), composed of YF Capital, a leading private equity fund in China, co-founded by Mr. Jack Ma and Mr. David Yu; Beijing Wandong Medical Technology Co., Ltd. (SHSE:600055), China’s largest listed medical imaging equipment manufacturers; Shanghai FTZ Fund Management Co., Ltd.; Shanghai Tianyi Industries Holding (Group) Co., Ltd.; Jiangsu Yuyue Science & Technology Development Co., Ltd.; Shanghai Kangda Medical Equipment Group Corporation Ltd.

The binding agreement was signed on December 6, 2017.

The transaction gives renewed impetus to Esaote’s plans for further growth and provides the Company with enhanced access to the large and rapidly expanding Chinese medical equipment market. In return, the Consortium will benefit from Esaote’s strong R&D capabilities, its globally recognised brand and industry leading product lines, and extensive international distribution network in the medical imaging sector.

Esaote will continue to operate as an independent global medical equipment company, headquartered in Genoa, Italy, with R&D and manufacturing facilities in Italy and the Netherlands.

The Consortium will leverage the distribution networks of Wandong, Yuwell, Meinian and Kangda to increase Esaote`s penetration in the Chinese medical imaging equipment market. In parallel, Esaote will distribute the Consortium’s relevant medical products in international markets where the Company operates.

With the sale of Esaote, MPVenture 2 Fund positively completes its seventh exit.