Trendlines Completes Successful Sale of E.T.View Medical

Trendlines announced the completion of the sale of E.T.View Medical to Danish medical device company Ambu A/S (CPH: AMBU-B). E.T.View 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. Trendlines owns 25.96% of E.T.View. The fair value of The Trendlines’ holdings in E.T.View was approximately US$1.3 million as at 30 June 2016.

ETView booth at ASA

The ETView team at the company booth at the American Society of Anesthesiologists Annual Meeting in San Diego, California (October 2015).

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.”

“The leadership of Bill Edelman as E.T. View CEO,” Dollinger said, “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.”

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