Neoss Ltd (United Kingdom) - Nov 2007

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01 November 2007

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MMC has made an equity investment of £10m in Neoss, a dental implant solutions provider. This is the fourth institutional funding round raised by the company, which has now raised a total of £18m, with MMC participating throughout and committing £12.5m. The new capital will be used in ongoing research and development and marketing activities, as well as to finance the company’s continuing geographic expansion.

Company

Neoss is a specialist developer of a novel dental implant system for replacing missing teeth. Established by Professor Neil Meredith and Fredrik Engman in 2000, the company has created a highly rationalised, patented system with fewer than a hundred components, compared with rival systems which typically have 1,500-3,000 components. Its simplicity makes it suited not just to implantologists but also to general practitioners. The business is headquartered in Harrogate and employs approximately 60 staff across operations in Australia, Germany, Italy, the US, the UK and Sweden, generating turnover in 2006 of £4.2m and currently achieving annual growth of more than 100%.

People

Bruce Macfarlane led the transaction for MMC, which has appointed Denis Tinsley, an MMC investor and former head of healthcare at management consultants McKinsey & Co, as its representative on the Neoss board.

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