The Swedish medical technology company, Bactiguard has increased its market this past fall with China and South Korea and the expansion continues. The corporate bond that was issued to the public is now oversubscribed, as their ambition to raise between SEK 400 million and SEK 450 million was met.
The reason for this is, according to Christian Kinch, CEO of Bactiguard, is that during times of crisis, investors look to place capital within the healthcare industry. “Irrespective of the fact of poor financial times, people continue to become ill, and Bactiguard is fighting against healthcare´s biggest threat; hospital acquired infections and the increased usage of antibiotics.” He continues, “we have noticed a prominent demand for our products over the past few years, and this year alone we have increased revenues by 35%”.
With the securities of the public bond, Bactiguard will buy out the British hedge fund, Noonday, who previously owned 45% of Bactiguard. The remaining SEK 100 million will be used for expansion.
Among the investors, the Swedish Industrifonden has placed SEK 50 million, capital to help invest in the international growth of Bactiguard.
We see our investment in Bactiguard as a very interesting business adventure, and are excited to be able to contribute in the financing of such a unique, Swedish invention in an area as urgent as healthcare, helping it to international growth, says Sofia Ericsson Holm, investment manager for industrial growth at the Swedish Industrifonden.
For more information contact:
Linda Nyberg
Director of Public Relations & Communications, Bactiguard
Tel: + 46(0)8 440 58 80
Maria Montgomerie
Head of corporate communications, Industrifonden
Tel: + 46(0)70 649 19 28
Bactiguard provides world-leading solutions preventing hospital-acquired infections – the 4th largest cause of death in the western world. By using Bactiguard technology Governments can reduce healthcare cost, lower the use of antibiotics and save lives. The Bactiguard technology consists of an extremely thin noble metal coating, with antimicrobial and biocompatible properties that can be used on all sorts of medical devices. The Bactiguard coated urinary catheter has since 1995 been used by more than 110 million patients in the US. Today Bactiguard offers a full range portfolio within infection prevention in the urinary tract, respiratory tract and blood stream.