Biomedical and healthcare equity fund Ares Life Sciences has completed its purchase of a 40% stake in Italian ultrasound vendor Esaote.
The agreement provides for the transfer of all Esaote assets for 280 million euros ($406 million U.S.) to a newly incorporated company. Ares Life Sciences will own 40%, with 20% owned by the Intesa Sanpaolo Group, approximately 13% each by Equinox Two SCA and MPS Venture 2, and 8% by Carige. Members of Esaote management will hold the remaining 6%.
Previously, the Intesa Sanpaolo Group held 57% of Esaote's share capital, with 13% held by Equinox Investment, 12% by Carige, 11% by MPS Venture 1, and the remaining stake by a group of Esaote managers.
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Esaote sales advance in 2008, March 31, 2009
Esaote develops ultrasound contrast concept, February 6, 2009
Biosound Esaote debuts new MyLab units, November 13, 2008
Biosound Esaote to license RCT harmonic patents, January 3, 2008
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