MIG sells portfolio company Hemovent to MicroPort
Munich, 4 October 2021
MIG Capital AG (formerly MIG Verwaltungs AG) announces another successful exit. MIG portfolio company, Hemovent GmbH (Aachen, Germany) has entered into a definitive agreement under which MicroPort Surgical BV, a subsidiary of Shanghai-based MicroPort Scientific Corporation, (MicroPort), will acquire 100% of Hemovent for a total purchase price of up to €123 million. Split between two funds MIG holds more than 27 percent of Hemovent.
Hemovent develops and manufactures Extra Corporal Lung Support (ECLS) systems for the intensive care setting. Based on the classic heart-lung machine, this technology takes over the heart and/or lung function of a patient for up to several weeks. Hemovent wants to significantly expand the application range of these life-saving systems, particularly for emergency use. The proprietary MOBYBOX® is an extremely mobile and lightweight machine in a “handbag” design and is considerably simpler to operate than current systems on the market. MOBYBOX® can thus help save human lives in mobile emergency applications.
“In just five years, Hemovent has succeeded in developing the MOBYBOX®, a mobile ECLS device that is ready for the market.” said Matthias Guth, Venture Partner of MIG Capital AG. “This is an extraordinary achievement and places the company in a unique position in the international market for heart and lung support. We are very proud to have been an important part of this success story as lead investor. Furthermore, the timing of this deal is excellent for the sale to a strategic partner. As part of a global medical technology group, Hemovent can take its business model and the commercialization of devices to a new level.”
The transaction has received all the necessary regulatory approvals and is expected to close in the fourth quarter of 2021.
About MIG Capital AG
MIG Capital AG (formerly MIG Verwaltungs AG) is one of the leading German VC investors. MIG invests through the MIG funds in young deep tech and life sciences companies in German-speaking Europe and beyond. The company has so far invested over €600 million in over 40 companies. MIG’s portfolio companies develop innovations in areas such as biopharmaceuticals, artificial intelligence / machine learning, quantum technologies, digitization / IoT, precision medicine and digital health. The MIG investment portfolio currently consists of 28 companies.
MIG’s investment team consists of a committed group of experts of engineers, biologists, scientists and investors who use analytical and creative processes to evaluate the risks and opportunities of business models and technologies. Their reputation, their experience and their network provide excellent access to companies, institutions and decision-makers in order to support the growth of their portfolio companies.
In recent years, MIG AG has successfully sold its portfolio companies SuppreMol (to Baxter in 2015), sunhill technologies (to Volkswagen in 2015), Ganymed (to Astellas in 2016) and Siltectra (to Infineon in 2018), and led BRAIN (in 2017), NFON (in 2018), BioNTech (in 2019) and Immatics (in 2020) to listings on stock exchanges.