Healthcare Brands International (HBI), a new company helping to turn innovative medical product technology into successful consumer brands, was officially launched today. Backed by £25m of venture capital from a syndicate of investors including Abingworth, MVM, 3i and Sofinnova, HBI is targeting companies which have successfully developed innovative technology but lack the commercial capability and resources to realise their true potential with consumers worldwide. HBI is focussing on consumer needs, which are currently either unmet or only partially met by available OTC products.
Deal will be the second add-on acquisition for Danoffice since Agilitas's buyout of the company in November 2017
Bowmark will provide additional funding of £100m to fund the company's add-ons acquisitions
Exit represents an 18x return on Octopus's initial investment and a 9x return on its total investment
Deal follows M&A litigation initiated after coronavirus uncertainty and financing difficulties