Angiotech Pharmaceuticals Completes Sale to Investor Syndicate Led by Vivo Capital and ZQ Capital
PALO ALTO, Calif. and VANCOUVER, British Columbia, March 21, 2017 /PRNewswire/ -- Angiotech Pharmaceuticals, a leading medical device company focused on high value medical consumables in the wound closure and ophthalmology sectors, today announced the completion of its sale to a group of investors led by Vivo Capital LLC and ZQ Capital Limited. The investment syndicate also includes GSO Capital Partners LP, China Orient Asset Management (International) Holding Limited, Fung Shing Investments Ltd, ZZ Capital Co., Ltd, ABCI Investment Management Limited, Cathay Venture Inc. and Nan Fung Group. In addition, business development companies managed by affiliates of FS Investments and sub-advised by an affiliate of GSO Capital Partners LP (GSO, a division of The Blackstone Group), ABCI Investment Management Limited, and China Minsheng Banking Corporation Limited, Hong Kong Branch, provided senior secured financing for the transaction. The terms of the transaction were not disclosed.
Angiotech is a leading diversified medical device manufacturer of branded, private label and OEM products. The company has more than 2,000 employees worldwide, has manufacturing facilities in England, Puerto Rico, Mexico and Germany, and sells to customers in over 80 countries.
O'Melveny & Myers LLP was legal advisor to the investment syndicate and Paul Hastings LLP and Magstone Law were legal advisors to ZQ Capital. Piper Jaffray & Co was financial advisor and Irell & Manella LLP served as legal advisor, respectively, to Angiotech.
About Vivo Capital
Vivo Capital is a global healthcare focused investment firm formed in 1996 with over $1.8 billion under management. Vivo Capital has offices in Palo Alto, California, Beijing, Shanghai and Taipei. Vivo's current portfolio includes more than 80 private and public biotechnology companies in the areas of biopharmaceuticals, specialty pharmaceuticals, and medical devices.
More information can be found at www.vivocapital.com.
About ZQ Capital Limited
ZQ Capital is an investment firm headquartered in Hong Kong. The firm specializes in identifying, investing in, and partnering with global companies to realize their growth potential in the Chinese market by levering ZQ Capital's deep local knowledge of China as well as extensive relationships with financial institutions and leading entrepreneurs throughout Asia.
About China Orient Asset Management (International) Holding Limited
China Orient Asset Management (International) Holding Limited ("COAMI") is headquartered in Hong Kong, and is a wholly-owned subsidiary and primary overseas platform of China Orient Asset Management Co. Ltd. As of 31 December 2015, COAMI has assets over HKD 52bn. The key businesses of COAMI include investment, corporate finance advisory, non-performing asset acquisitions and asset management.
About Fung Shing Investment Limited
Fung Shing Investment Limited is an investment company. With extensive experience and knowledge, Fung Shing invests in various sectors, including but not limited to media, telecom, healthcare, real estates and financial institutions.
About ZZ Capital Co., Ltd
ZZ Capital Co., Ltd ("ZZ Capital") is a global investment firm headquartered in Beijing and an affiliate of Zhongzhi Group, a leading financial services company with more than US$240bn AUM across a variety of investment and wealth management platforms. ZZ Capital and its affiliate, ZZ Capital International (a Hong Kong listed company), are the global flagship private equity investment vehicles for the Zhongzhi Group. ZZ Capital seeks buyout and investment opportunities in the healthcare, financial services, TMT, education, media and advanced manufacturing sectors to create true partnerships, drive value enhancement and leverage its unique positioning in China. The business operates offices in Beijing, Hong Kong, New York, San Francisco, London and Tel Aviv.
About Cathay Venture Inc.
Cathay Venture is an evergreen fund wholly-owned by Cathay Financial Holding, based in Taipei, Taiwan. Cathay Financial Group establishes its presence in Taiwan on December 31, 2001, with registered capital of NTD$120 Billion. Composed of insurance, securities, banking and other diversified financial institutions, Cathay Financial Holdings is a full-functioning financial platform.
About Nan Fung Group
Founded in 1954, Nan Fung Group is a fully integrated, multi-disciplinary conglomerate based in Hong Kong with global interests in real estate development and investment, financial investment, hotels and shipping.
About China Minsheng Banking Corporation Limited, Hong Kong Branch
Opened on 30 March 2012, China Minsheng Banking Corporation Limited, Hong Kong Branch ("CMBC HK") is the first and only overseas branch of China Minsheng Banking Corp., Ltd. CMBC HK has been active in providing offshore transaction based financing to its PE or corporate clients.
Angiotech Pharmaceuticals has developed and manufactured branded, private label, and OEM surgical instruments for over 40 years. The Company offers one of the most comprehensive portfolios of blades and sutures available, including innovative products such as the Quill Knotless Tissue-Closure Device. Headquartered in Vancouver, CA, Angiotech devotes itself to exceeding the needs of the specialty surgery market, having trusted partnerships within dental, ophthalmic, plastic surgery, dermatology, orthopedics, urology, microsurgery, veterinary and trauma specialties. The key shareholders in Angiotech include affiliates of Blue Mountain Capital LLC, Courage Capital Management LLC and Cetus Capital LLC.
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SOURCE Vivo Capital