Growth Capital • Medical Products

Cathay Capital Private Equity and OrbiMed Advisors Invest In Echosens

On April 29, 2015, private equity firms Cathay Capital Private Equity and OrbiMed Advisors invested in medical products company Echosens

Investment Context
  • This is Cathay Capital Private Equity’s 1st and OrbiMed Advisors’ 1st transaction in the Medical Products sector.
  • This is Cathay Capital Private Equity’s 20th and OrbiMed Advisors’ 1st transaction in France.
Investment Fate
  • Echosens was sold to a consortium of financial buyers in 2018.

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Investment Summary

Date April 29, 2015
Target Echosens
Sector Medical Products
Investor(s) Cathay Capital Private Equity
OrbiMed Advisors
Deal Type Growth Capital

Target Company

Echosens

Paris, France
Echosens is a specialized diagnostic company providing non-invasive medical devices and services to support physicians in their diagnostic and monitoring of chronic liver diseases. Echosens was founded in 2001 and is based in Paris, France.
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Investors Overview 2

Investor

Cathay Capital Private Equity

Paris, France

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2006
PE ASSETS 5.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Cathay Capital Private Equity SAS is a French Chinese private equity firm focused on acquiring businesses in France, Hong Kong, and China. Cathay looks to help Western companies leverage opportunities in China and help Chinese companies leverage Western best practices and partnerships. The Firm looks to invest in businesses generating €5 to €150 million in revenues. Areas of interest include retail, consumer goods, electrical equipment, medical devices, pharmaceuticals, animal healthcare, translation, food, consumer services, and software. Cathay Capital Private Equity SAS was formed in 2007 and is based in Paris. The firm has additional offices in New York and Shanghai.


Deal Context for Investor #
Overall 32 of 101
Sector: Medical Products 1 of 3
Type: Growth Capital 8 of 26
Country: France 20 of 42
Year: 2015 2 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-02-19 Equativ

Paris, France

Equativ is an independent adtech platform built to serve the interests of both buyers and publishers. Smart’s fully transparent platform and shared-interest business approach enables brands and premium publishers to get their fair share of ad value at every opportunity, on their terms. Brands can achieve greater efficiency through their advertising spend, and publishers can act with certainty and have the control they need to provide the right blend of transaction models, channels, formats, and audience data to deliver true value path optimization to brands. Equativ was formed in 2001 and is based in Paris, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-05-26 Janod

Orgelet, France

Janod is a developer and manufacturer of wooden toys. Janod offers baby and learning toys, musical toys, wooden puzzles, blackboards, role-play products, and outdoor products. Janod was founded in 1970 and is based in Orgelet, France.

Sell -
Investor

OrbiMed Advisors

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 14.0B USD
Size Large
Type Sector Focused
DESCRIPTION

OrbiMed Advisors is a global healthcare centric investment firm that invests in medical device, life science, healthcare service, and medical diagnostic companies. OrbiMed maintains three investment disciplines including Public Equity, Private Equity, and Royalty Opportunities. OrbiMed's Public Equity group manages a series of public equity funds, including long/short event-driven funds and closed-end investment trusts that invests across all types of publicly-traded companies, from biopharmaceuticals to medical devices and healthcare services worldwide. OrbiMed's Private Equity group invests in start-ups through growth equity financings. OrbiMed prefers to be the lead investor and will consider opportunities across North America, Asia, Europe and Israel. OrbiMed's Royalty practice provides commercial-stage healthcare companies with non-dilutive structured debt capital. OrbiMed was formed in 1989 and is based in New York City.


Deal Context for Investor #
Overall 2 of 6
Sector: Medical Products 1 of 1
Type: Growth Capital 1 of 2
Country: France 1 of 1
Year: 2015 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-03-05 Tricida

South San Francisco, California, United States

Tricida is a pharmaceutical company focused on developing and commercializing its drug candidate, TRC101, a non-absorbed, orally-administered polymer designed to treat metabolic acidosis in patients with chronic kidney disease (CKD). Tricida was founded in 2013 and is based in South San Francisco, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-01 Arcutis

Westlake Village, California, United States

Arcutis is focused on developing topical medicines for the treatment of skin diseases. The company’s lead program, ARQ-151, is a topical formulation of roflumilast that is currently in Phase 2 studies for the treatment of plaque psoriasis and atopic dermatitis. The company’s second program, ARQ-250, is a topical JAK1-inhibitor in preclinical development for the treatment of various autoimmune diseases affecting the skin. Arcutis was founded in 2016 and is based in Westlake Village, California.

Buy -