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Apposite exits ultrasound device maker Zonare to China’s Mindray Medical

23 Jul 2013

ultrasoundHealthcare-focused private equity and venture investor Apposite Capital has sold portfolio company Zonare Medical Systems to China’s Mindray Medical International.

Apposite bought into the business in 2009 as part of a direct secondary portfolio of healthcare assets bought from another private equity firm.

The company provides ultrasound items in the high-end radiology segment, and was founded in 1999.

Apposite managing partner David Porter, who was on the Zonare board of directors, said, “We are very pleased with the completion of the transaction, the third profitable exit from our secondary portfolio.

“Mindray provides an ideal platform for Zonare to continue to develop innovative, high quality imaging solutions for the benefit of patients and health practitioners.

“It is now well positioned to further expand internationally.”

Shenzhen- headquartered Mindray entered into an exclusive agreement to purchase Zonare on June 12.

Last July Swiss investment firm b-to-v Partners partnered with founding investors High-Tech Gruenderfonds and Bayern Kapital to lead a Series A financing round for Munich-based medical technology company Curefab.

The company has developed a scanning enhancement for ultrasound devices which converts 2D scans into high-resolution 3D volume-scans.

Since its market approval in August 2011 university clinics in Germany, England and Switzerland have been working with the Curefab system.

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