Daily News: August 30, 2017

Madryn Provides $55MM Debt/Equity Financing for Establishment Labs

Establishment Labs closed a $55 million combined secured credit facility and equity investment with Madryn Asset Management.

“This transaction allows us to finance our research and development into next generation implants for breast augmentation and reconstruction surgeries, pursue expanded commercialization opportunities in markets where our Motiva Implants have been approved and support our proposed FDA Trial and entrance into the U.S. market,” said Juan José Chacón-Quirós, CEO and founder of Establishment Labs.

“We see tremendous value in Establishment Labs as a leader and an innovator in the global medical technology industry and are pleased to support the company in achieving its growth plans,” said Avinash Amin, co-founder and managing partner of Madryn. “There is a wide unmet need for new technologies in breast aesthetics, with a specific focus on improved safety, better outcomes and greater satisfaction.”

Madryn Asset Management is an alternative asset management firm that invests in healthcare companies.

Establishment Labs is a global, privately held, medical technology compan.