MISGAV, ISRAEL / ACCESSWIRE / September 29, 2016 / The Trendlines Group Ltd. (SGX: 42T, OTCQX: TRNLY), an innovation investment and commercialization company focused on technology in the medical and agricultural fields, announced today the completion of the sale of E.T.View Medical (TASE: ETVW) (“E.T.View”), of which The Trendlines Group (“Trendlines”) owns 26.46%, to Ambu A/S (CPH: AMBU-B) (“Ambu”), a Danish medical device company. E.T.View Medical Ltd. develops and manufactures a portfolio of products that provide continuous visualization and ventilation of the airway during surgical procedures.
The consideration to ETView’s shareholders is US$13.6 million (gross, before withholding taxes, but after deduction of transaction costs, certain debts, liabilities, and other expenses). Trendlines will receive US$3.6 million and the gain from the merger, after tax, will be approximately US$2.3 million.
Commenting on the sale, Trendlines’ Chairman and CEO and E.T.View Chairman, Todd Dollinger, said: “Having successfully facilitated E.T.View’s IPO in 2010, we are very pleased to now announce our exit from E.T.View. E.T.View is one of some 43 companies in the Trendlines Group portfolio; 13 of our companies, like E.T.View, are in the commercialization stage.”
Mr. Dollinger continued: “The leadership of Bill Edelman as CEO of E.T.View in this transaction and in E.T.View’s achievements are noted and appreciated. Bill implemented a strategy at E.T.View to reposition the company from its original focus on intubation therapy to higher value thoracic surgery. Under Bill’s management, E.T.View broadly expanded its portfolio of products and established an international sales force that sells E.T.View products throughout Europe, the Americas and Asia. I have enjoyed working with Bill and look forward to future collaboration in the sector.”
About The Trendlines Group
The Trendlines Group is an innovation commercialization company that invents, discovers, invests in, and incubates innovation-based medical and agricultural technologies to fulfill its mission to improve the human condition. As intensely hands-on investors, Trendlines is involved in all aspects of its portfolio companies from technology development to business building. The Trendlines Group is traded on the Singapore Stock Exchange (SGX: 42T) and in the United States as an American Depositary Receipt (ADR) on the OTCQX (OTCQX: TRNLY).
Forward-Looking Statement
Statements in this press release that are not statements of historical or current fact constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the Company’s actual operating results to be materially different from any historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as “believes,” “belief,” “expects,” “expect,” “intends,” “intend,” “anticipate,” “anticipates,” “plans,” “plan,” to be uncertain and forward looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company’s filings with the Securities and Exchange Commission.
Investor Contact Information
Israel
Judith Kleinman, Director, Investor Relations & Corporate Communications
judith@trendlines.com
+972.72.260.7000
US
Adam Holdsworth, Managing Director of Investor Relations
adamh@pcgadvisory.com
646-862-4607
SOURCE: The Trendlines Group
ReleaseID: 446222
