SHS and BWK buy minority stake in NDD Medizintechnik

SHS purchased its shares from an unnamed investor that had held the asset since 2000 from a replacement capital deal. The VC does not rule out a later injection of growth capital. The transaction was made through the SHS IV fund, which was announced in June 2013 and closed on €125m in May 2015. NDD's management remains invested, although it was not disclosed to what extent.

SHS hopes NDD will benefit from its experience in the healthtech and diagnostics sector. Meanwhile, private equity firm BWK will provide experience in investing in larger assets, which is still new to SHS.

The company states that it is the market leader in the US for devices that measure lung volume and respiratory flow, having a market share of 43%. It plans to further grow in the US, China and India, and expand to other Asian countries.

SHS focuses on investments in medical technology and science companies with a focus on growth financing, changes in shareholder structures and succession situations.

Company
Founded in 1996 and based in Zurich, NDD develops and sells pulmonary function devices, which allow for diagnosis outside of pulmonary function labs. NDD's sensors are used in medical devices for diagnostic and critical care applications.The company has an additional site in Andover, in the US.

People
Georg Harnoncourt is CEO of NDD. Bernhard Schirmers in managing partner at SHS.

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