Accuron Technologies announced that it will spin out its MedTech business. The Accuron MedTech Group (Accuron MedTech), Southeast Asia's largest medical device business, will be established as a leading vertically integrated urology business.
As a result of the spin out, Accuron MedTech will be directly owned by Temasek. The move will allow Accuron MedTech’s management team to better focus on global MedTech growth and investment opportunities. It is anticipated that the process will be completed by March 2019.
Philip Yeo, chairman of Accuron Technologies said: “Accuron MedTech has been managed as an independent division of Accuron Technologies for some time now. The spin out will enable Accuron MedTech to be more agile in managing its operations, putting it on a stronger platform for sustained growth and technology commercialisation. The move will also allow Accuron Technologies Limited to focus its resources to pursue opportunities in the growing Aerospace and Industrial businesses.”
Over the past 3 years, Accuron MedTech has grown its revenue by more than 30% through the launch of new products such as the Delta III, the first SmartLitho for stone treatment, and more than 10 M&A transactions.
Accuron Technologies Limited is a global precision engineering and technology group, having core competencies in precision manufacturing, material processing, systems design and system integration.
Accuron comprises three business units that operate autonomously, namely; Aerospace, Industrial and MedTech. Accuron Technologies Limited is a wholly-owned subsidiary of Temasek.
Accuron MedTech is the largest medical device business in Southeast Asia. It is a global medical technology leader with a core focus in urology devices and services. Headquartered in Singapore, with operations in US, Germany, Spain, France, Italy, China, Malaysia and Japan, the Company serves millions of patients and physicians in 100 countries worldwide.
Accuron MedTech makes strategic investments in disruptive medical technology companies, strengthening its portfolio of healthcare solutions for customers around the world.
Source: Company Press Release