MEDTECH : MEDTECH ANNOUNCES THE COMPLETION OF ITS EUR 13.6 MILLION NOTE ISSUANCE

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Investment by Ally Bridge Group, a global healthcare-focused investment Group

December 17, 2015, Montpellier, France – MEDTECH (Euronext, FR0010892950 – ROSA (“Medtech” or the “Company”)), a company specialized in designing, developing and marketing innovative surgical assistance robots, announced today the completion of its note issuance, first announced on November 2, 2015, for an amount of EUR 13.6 million.

Following the approval of its shareholders' general meeting held on December 10, 2015, the Company issued 452,363 convertible notes, otherwise known as OCABSA 2020, each with a par value of EUR 30.10. Each issued note has 0.4 warrant(s) attached, with each warrant giving the right to subscribe to one (1) ordinary share of the Company.

Ally Bridge Group ("ABG"), a global healthcare-focused investment group, subscribed to all of the OCABSA 2020 issued.

The settlement of the OCABSA 2020, which are not listed on Euronext Paris, was realized on 17 December 2015. 

Bertin Nahum, CEO and Founder of Medtech stated: “We are extremely pleased to obtain the support of Ally Bridge Group, which provides strong validation for our ROSA™ robotic surgery system and comes at a key juncture in the Company's development. We are convinced that this investment, coming from a major healthcare-focused investment group, will contribute to give a wider visibility to the ROSA™ products within the financial and healthcare communities, and help expand our market presence, notably in the U.S. spinal market after obtaining FDA clearance for ROSA™ Spine.

Details on the private placement

The OCABSA 2020 issuance was decided on December 10, 2015 by the Company's board of directors, acting pursuant to a delegation of authority given by the Company shareholders' general meeting held on the same day.

A detailed description of the OCABSA 2020 was given in the previous press release announcing the transaction, dated November 2, 2015, and in the board of directors' report to the Company shareholders' general meeting.

Gross proceeds to the Company were EUR 13.6 million, prior to the payment of placement agent fees and expenses.

Net proceeds from the transaction are intended to be used for the development of ROSA™ Brain and ROSA™ Spine, the Company's two major products, as well as general corporate purposes, which may include working capital, continued investment in geographic expansion, research and development, and strategic business development opportunities.

Issuance impact on shareholders

Shareholder participation Non diluted basis
Before Issuance of new shares (resulting from conversion of Convertible Notes and exercise of Warrants) 1 %
After Issuance of new shares (resulting from conversion of Convertible Notes and exercise of Warrants), in the event of a 75% realization 0.83 %
After Issuance of new shares (resulting from conversion of Convertible Notes and exercise of Warrants), in the event of a 100% realization 0.79 %

Detailed information on Medtech, together with all of the press releases and other regulated information about the Company, is available on the Company's website (www.medtech.fr).

About MEDTECH
Founded in 2002 by Bertin NAHUM and based near Montpellier, MEDTECH is a European specialist in the design, development and marketing of innovative robotic appliances to assist surgeons during their medico-surgical interventions, thus contributing to the implementation of safer, more efficient, less-invasive treatment.
In 2007, MEDTECH developed ROSA™, an innovative technological device devoted to brain surgery procedures. ROSA™ has been approved in Europe, the United States and Canada.
In 2013 Medtech received the « European Company of the Year Award” in the “robotic neurosurgery” category from Frost & Sullivan.
In July 2014, MEDTECH obtained the CE marking for its new product ROSA™ Spine, a robotic- assistive device for minimally invasive surgery of the spine.
In October 2014, MEDTECH won the « Révélation » prize in the Mediterranean Deloitte Technology Fast 50 Awards.
In 2015 MEDTECH received the “2016 Company of the Year Award” in the “robotic neurosurgery” category from Frost & Sullivan.
About ALLY BRIDGE GROUP
Ally Bridge Group ("ABG"), founded and led by Frank Yu, is a global healthcare-focused investment group managing over USD1 billion in assets with a portfolio of innovative healthcare companies in the United States, Europe and China.
ABG has expertise in cementing strategic partnerships between emerging healthcare companies and industry leaders, and across different geographies between the United States, Europe and China.
On April 30, 2015, ABG announced – and, on Dec. 11, 2015, completed – the USD 3.3 billion take-private deal of WuXi PharmaTech, the largest healthcare buyout transaction in Asia Pacific ex Japan.
 

 

MEDTECH INVESTORS PRESS EU PRESS US
Christophe Sibillin Corinne Puissant Alexandra Prisa Joanna Zimmermann
Chief Financial Officer Tel : +33 (0)1 53 67 36 77 Tel. : +33(0)1 53 67 36 90 Tel : +1 646-536-7006
Tel : +33 (0)4 67 10 77 40 cpuissant@actus.fr aprisa@actus.fr jzimmerman@theruthgroup.com

IMPORTANT NOTICE

This document does not constitute a public offering nor an invitation in any jurisdiction in connection with any offer.

This document does not constitute or form part of an offer or solicitation of an offer to purchase or subscribe for securities in France. The securities referred to herein may not be offered or sold to the public in France except to qualified investors ("investisseurs qualifiés") and/or to a limited group of investors ("cercle restreint d'investisseurs") acting for their own account, as defined 3 in, and in accordance with Articles L. 411-2 and D. 411-1 to D. 411-3 of the French Monetary and Financial Code.

This document is only being distributed to, and is only directed at, persons in the United Kingdom that (i) are “investment professionals” falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended, the "Order"), (ii) are persons falling within Article 49(2)(a) to (d) ("high net worth companies, unincorporated associations, etc.") of the Order, or (iii) are persons to whom an invitation or inducement to engage in investment activity (within the meaning of section 21 of the Financial Services and Markets Act 2000) in connection with the issue or sale of any securities may otherwise lawfully be communicated or caused to be communicated (all such persons together being referred to as "relevant persons").

This document is directed only at relevant persons and must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this document relates is available only to relevant persons and will be engaged in only with relevant persons.

This document has been prepared on the basis that any offer of the new shares in any Member State of the European Economic Area ("EEA") which has implemented the Prospectus Directive (2003/71/EC) (each, a "Relevant Member State") was made pursuant to an exemption under the Prospectus Directive, as implemented in that Relevant Member State, from the requirement to publish a prospectus. Accordingly any person making or intending to make any offer in that Relevant Member State of securities which are the subject of the placement may only do so in circumstances in which no obligation arises for Medtech to publish a prospectus pursuant to Article 3 of the Prospectus Directive, as amended by the Amending Prospectus Directive (2010/73/UE) in relation to such offer. Medtech has not authorized, nor does it authorizes, the making of any offer of the new shares in circumstances in which an obligation arises for Medtech to publish a prospectus for such offer. This document is an advertisement and not a prospectus for the purposes of applicable measures implementing Directive 2003/71/EC.

This press release is not an offer of securities for sale in the United States or any other jurisdiction. Securities may not be sold or offered in the United States unless they are registered or are exempt from registration under the U.S. Securities Act of 1933, as amended. Medtech does not intend to register any portion of this offering in the United States or to conduct a public offering of securities in the United States. Copies of this press release are not being, and should not be, distributed in or sent into the United States. It may be unlawful to distribute these materials in certain jurisdictions. These materials are not for distribution in Canada, Japan or Australia. The information in these materials does not constitute an offer of securities for sale in the United States, Canada, Japan or Australia.


Information réglementée
Communiqués au titre de l'obligation d'information permanente :
- Autres communiqués
Full and original press release in PDF:
http://www.actusnews.com/documents_communiques/ACTUS-0-42504-Rosa-Press-Release-Post-Closing-17-12-2015-UK-DEF.pdf

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