Investment Summary

Eight Roads and Varian Medical Systems Invest In ABK Biomedical

On April 8, 2019, private equity firm Eight Roads and Varian Medical Systems invested in medical products company ABK Biomedical

Investment Highlights
  • This is Eight Roads’ 11th and Varian Medical Systems’ 6th transaction in the Medical Products sector.
  • This is Eight Roads’ 2nd and Varian Medical Systems’ 2nd transaction in Canada.
  • This is Eight Roads’ 1st and Varian Medical Systems’ 1st transaction in Nova Scotia.

Investment Summary
Date 2019-04-08
Target ABK Biomedical
Sector Medical Products
Investor(s) Eight Roads
Varian Medical Systems
Deal Type Venture

Target

ABK Biomedical

Halifax, Nova Scotia, Canada
ABK Biomedical engages in researching, developing, and commercializing breakthrough medical device therapies to improve treatment outcomes and the lives of patients with benign and malignant hypervascular tumors. ABK Biomedical was founded in 2012 and is based in Halifax, Nova Scotia.

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Investor(S) 2

Investor

Eight Roads

Investor

Category Private Equity Firm
Founded 1969
Size Small
Type Sector Focused
DESCRIPTION

Eight Roads is a private investment firm focused on a variety of investment opportunities across the US, Europe, and Asia. The Firm is divided into several investment strategies including venture, principal investing, and real estate. Within the principal investments group, Eight Roads backs established growth businesses with long-term capital. Eight Roads does not have any sector preferences, but has experience in fintech, business services, and healthcare. Eight Roads is based in London.

DEAL STATS #
Overall 215 of 298
Sector (Medical Products) 11 of 15
Type (Venture) 190 of 269
State (Nova Scotia) 1 of 1
Country (Canada) 2 of 3
Year (2019) 11 of 22
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-27 Precision BioSciences

Durham, North Carolina, United States

Precision BioSciences is a biotechnology company dedicated to improving lives through its next-generation gene editing technology, ARCUS. Precision BioSciences’ mission is to translate the world’s most powerful genome editing technology into greatly needed products throughout the life sciences. Precision BioSciences was founded in 2006 and is based in Durham, North Carolina.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-23 SonderMind

Denver, Colorado, United States

SonderMind enables clinicians to thrive in a private-practice setting, while having the tools to deliver world-class care for clients. The company's therapists enjoy being part of the premier community of providers who are empowered to focus on high-quality clinical outcomes, while the SonderMind solution takes care of the rest: matching clients who are a clinical fit, payments, telehealth, full technology suite, clinical assessments and a supportive team behind all of it. SonderMind was formed in 2014 and is based in Denver, Colorado.

Buy -
Investor

Varian Medical Systems

Palo Alto, California, United States
Category Company
Founded 1948
Sector Medical Products
Revenue 3.2B USD (2020)
DESCRIPTION
Varian's corporate headquarters in Palo Alto, California.
Varian's corporate headquarters in Palo Alto, California.

Varian Medical Systems is a manufacturer of medical devices and software for treating cancer and other medical conditions with radiotherapy, radiosurgery, proton therapy, and brachytherapy. The company supplies informatics software for managing comprehensive cancer clinics, radiotherapy centers and medical oncology practices. Varian is a supplier of tubes and digital detectors for X-ray imaging in medical, scientific, and industrial applications and also supplies X-ray imaging products for cargo screening and industrial inspection. Varian Medical Systems was formed in 1948 and is based in Palo Alto, California.

DEAL STATS #
Overall 19 of 25
Sector (Medical Products) 6 of 9
Type (Venture) 1 of 1
State (Nova Scotia) 1 of 1
Country (Canada) 2 of 2
Year (2019) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-12 Noona Healthcare Oy

Helsinki, Finland

Noona Healthcare Oy is a developer of a cloud-based, mobile service designed to capture cancer patient-reported outcomes (PROs). The Noona patient software app lets clinics capture PROs and communicate directly with patients. Noona's intuitive user interface creates an engaging experience for patients that encourages a high rate of adoption and adherence over long periods. Noona helps patients and care teams to proactively manage patient symptoms, which could lead to improved clinical outcomes and reduced hospitalization and emergency room visits.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-09 CyberHeart

Mountain View, California, United States

CyberHeart, Inc. is an intellectual property (IP) that covers the use of radiation in the heart (cardiac radioablation) and other forms of radiosurgery for cardiovascular disease. CyberHeart was founded in 2003 and is based in Mountain View, California.

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