GENEVA, SWITZERLAND--(Marketwired - July 14, 2014) - Ares Life Sciences, a healthcare-focused investment group, has today increased its ownership in Esaote SpA, a leading global manufacturer of medical diagnostic imaging systems. With the acquisition of an 8.2% stake for EUR19million, Ares has grown its holding in the Company from 39.8% to 48%.
Today's transaction involves the purchase of a 7.4% stake from Banca Carige and a 0.8% stake from a former manager of the Company.
Commenting, Jacques Theurillat, Managing Partner of Ares Life Sciences, said: "Today's transaction reflects our continued belief in Esaote and renews our commitment to the company. Its superior product range and leading technologies mean that Esaote has the key attributes to be a significant global player in its sector."
About Esaote SpA
Esaote is a leading player in the biomedical equipment sector, with a particular focus on ultrasound, dedicated magnetic resonance, and software for managing the diagnostic process. The company's activities encompass R&D, production, and commercialization of products and services in over 60 countries with a leading position in Italy and an important and rapidly developing emerging markets platform. The company is recognized as one of the most consistent and successful innovators in the highly attractive portable ultrasound and dedicated MRI market segments.
About Ares Life Sciences
Ares Life Sciences is a healthcare-focused investment group. Its strategy is to focus on key life sciences sectors, mainly: pharmaceuticals and biotechnology, medical diagnostics, and medical technology. Ares Life Sciences has a long-term view on investments and a core element of its investment strategy is to make available to its portfolio companies the collective experience and network of its team in the healthcare sector. Ares Life Sciences' portfolio currently includes investments in Stallergenes, Greer Laboratories, Euromedic, and Esaote. The investment in the latter dates back to 2009.
FOR FURTHER INFORMATION PLEASE CONTACT:
Ares Life SciencesDynamics GroupNicolas Guerin
+41 22 308 62 33 or +41 78 646 28 65
Image BuildingGiuliana Paoletti, Cristina Fossati, Angela Fumis
+39 02 89011300
Source: Ares Life Sciences