HBM Healthcare Investments sells stake in Westmed Holding Company
HBM Healthcare Investments today announces that the shareholders of Westmed Holding Company («Westmed»), a privately held portfolio company based in Colorado, USA, have approved a merger of Westmed with a subsidiary of Sunmed Group Holdings LLC. Westmed’s shareholders will not participate in the merged company and received a cash payment instead.
HBM Healthcare Investments has held a stake in Westmed since 2003 and owned about 25 percent of the company for a total investment of USD 7 million. The investment was previously valued at USD 12.4 million. The pro rata transaction proceeds of USD 20.3 million correspond to 2.9 times the invested capital and leads to a slight increase of the net asset value per HBM share (NAV) by CHF 0.87 (+0.3%).
Westmed is a global market leader in the development, manufacturing and distribution of specialized disposable and reusable anesthesia and respiratory care products.
For further information, please contact Dr Andreas Wicki on +41 41 710 75 77, or at firstname.lastname@example.org.