Toronto-based Synaptive Medical, a medical device and technology company, has secured a preferred equity financing of US$75 million. The investment was made by China’s Sensegain Group. Jing Yang from Sensegain will join the board. Synaptive is also backed by General Atlantic, Linamar Corp and other investors.
TORONTO, Oct. 29, 2020 (GLOBE NEWSWIRE) — Synaptive Medical, a leader in automation and robotics, announced today it has completed a sale of preferred equity totaling $17,000,000 USD. The investment was made by Sensegain Group, a leading asset management firm in China. Ms. Jing Yang, Board Member & Senior Partner of Sensegain, will join Synaptive’s Board of Directors.
Sensegain Group is headquartered in Beijing with multiple locations globally and has developed a strong partnership with industry leaders, as well as deep insights into sectors including TMT, Healthcare, and Advanced Manufacturing in China, United States, Canada, Israel, and other countries. Sensegain maintains a value investment principle and “Global + China” beliefs that help to maximize the value of portfolio companies and partners internationally. Synaptive management team worked tightly with Sensegain Group international team and the two parties are of great confidence that this investment will serve as a bright start of a long-term collaboration with each other.
This funding will enable Synaptive to further expand the availability of its suite of fully automated and integrated hardware and software products that enhance healthcare providers’ capabilities in diagnostic imaging, as well as surgical planning, navigation and visualization in the neurological and orthopedic spaces. Synaptive’s products have been uniquely designed to optimize workflow and enhance medical decision-making to improve patient outcomes.
In addition, Synaptive is announcing a new distribution partnership with Cicel Science and Technology Company, Ltd. of Beijing, for entry into the China market.
Marc Buntaine, CEO of Synaptive Medical, stated, “This investment is a testament to the confidence new investors have in Synaptive’s mission to provide state-of-the-art products that enable surgeons and healthcare professionals to provide safer patient-specific care in highly delicate cranial or spinal procedures for neurological disorders or injuries each year. With this financing, we are further committed to broadening the availability of our product offering to enter the greater China market with our new partner, Cicel.”
Cameron Piron, president and co-founder of Synaptive Medical, added, “We are excited to bring a new board member to our group with a strong background in finance and the China market.”
Synaptive offers products which provide world-class MRI cranial imaging, enhanced surgical planning, visualization both before and during surgery, and efficient data management throughout the clinical workflow, including medical informatics AI research. Synaptive’s products are modular and designed for seamless integration both within the Synaptive suite and with other products, so hospitals may purchase Synaptive offerings either individually or together, to best suit their needs.
About Synaptive Medical
Synaptive Medical Inc., a Toronto-based, global medical device and technology company solves surgical, imaging, and data challenges to improve the quality of human lives. Synaptive’s integrated suite of products – bridging MRI, surgical planning, navigation, and robotic visualization – delivers novel information with automated efficiency across all stages of clinical intervention.
About Sensegain Group
Sensegain Group is a leading asset management group headquartered in Beijing with multiple locations globally. Established in 2006, with over $6B capital commitments, Sensegain focuses on value investments in TMT, Healthcare, and Advanced Manufacturing. Portfolio companies of Sensegain’s US dollar fund includes the U.S. big data company Palantir, Israel Fintech unicorn eToro, China’s leading healthcare network Tencent Trusted Doctors, China’s largest Doctor platform Medlinker alliance’, etc. Sensegain also has a strong track record in M&A and has led or facilitated the mergers and acquisitions of multiple portfolio companies and public companies.
About Cicel Science and Technology Company, Ltd
Cicel (Beijing) was founded more than 20 years ago with a commitment to bringing the world’s most advanced medical technology into China, providing more efficient, more convenient, and much safer clinical medical solutions to surgeons and their patients. Starting with Neurosurgery, through 20 years’ continuous effort, Cicel has achieved success in Neurosurgery, Spine surgery and General surgery, including organ transplantation, Operating Room, simulation teaching and other professional fields.