May 20, 2015

CNES’s financial holding subsidiary acquires stake in biomedical equipment firm AdEchoTech

Two new shareholders have acquired a stake in biomedical firm AdEchoTech (Advanced Echo Technology). One of them is Telespace Participation, CNES’s financial holding subsidiary.

Formed in 2008, AdEchoTech specializes in the design, manufacture and sale of biomedical equipment. It has built its business around a robotic remote ultrasound scanning solution that has been tried and tested for scientific and medical applications and complements existing tele-radiology equipment.

The investment, worth a total of €1 million (25% of AdEchoTech’s share capital), was made through a share issue. Telespace Participation, CNES’s financial holding subsidiary, and capital development firm Midi Capital now respectively hold 11.3% and 13.7% of AdEchoTech. The founding family behind AdEchoTech retains a 75% majority stake of the company.

In 2013, at the Health and Autonomy shows, AdEchoTech won the innovation prize in the robot-assisted telemedicine category for its Melody remote ultrasound scanning system. With the arrival of its new partners, AdEchoTech is now set to develop an ambitious commercial strategy, both in France and abroad, as Melody is attracting interest from health authorities in developed and developing countries.

Midi Capital ‘Health and Digital’ specializes in providing equity support for SMIs and SMEs in their growth phase and when seeking to transfer their business. It finances its operations through equity from private and institutional investors, to whom it offers preferential access to SMEs not listed on the stock market.

A wholly-owned subsidiary of CNES, Telespace Participation was formed in January 1998 to acquire minority shares in innovative companies offering services built around satellite solutions. It aims to manage its share portfolio dynamically and transparently, seizing opportunities aligned with CNES’s strategy of nurturing and developing new space applications.

_____
Contacts
Pascale Bresson    Tel. +33 (0)1 44 76 75 39    pascale.bresson@cnes.fr
Alain Delrieu    Tel. +33 (0)1 44 76 74 04    alain.delrieu@cnes.fr
Didier Jau    Tel. +33 (0)1 44 76 76 77    didier.jau@cnes.fr
Julien Watelet    Tel. +33 (0)1 44 76 78 37    julien.watelet@cnes.fr

cp081-2015-adechotech.pdf (pdf - 229.87 KB)
About: 
Published in: