Contacts:
Varun Gandhi
Small Bone Innovations, Inc.
P: 212.583.0370 ext. 2126
E: vgandhi@totalsmallbone.com
KHAZANAH INVESTS USD25M IN SMALL BONE INNOVATIONS, INC.
Khazanah Nasional Berhad ("Khazanah"), is pleased to announce that it has invested approximately USD25 million (RM90 million) in Small Bone Innovations, Inc. ("SBi"), a leading US-based specialized orthopedics company.
The investment was made as part of a USD108 million (RM388 million) Series D financing round undertaken by SBi, together with other investors including Goldman Sachs Group, Inc.; integrated venture capital company, Malaysian Technology Development Corporation Sdn. Bhd. ("MTDC"); The Family Office of Bahrain and Trevi Health Ventures.
SBi was founded in 2004 as one of the earliest companies in the orthopedics industry to focus exclusively on technologies and treatments for small bones and joints. It currently offers a broad clinically proven portfolio of products to treat these anatomies manufactured through its facilities in the US, France and Germany. Its latest product, Scandinavian Total Ankle Replacement System ("STAR Ankle") recently obtained the approval of the US Food and Drug Administration.
With Khazanah's investment, SBi has decided to set up its Asia Pacific hub in Kuala Lumpur to undertake activities such as biomaterial research, product development, surgeon education and distribution in the region. It is also currently exploring the possibility of establishing an Asia Pacific manufacturing base in Malaysia for its products.
SBi's presence in Malaysia is expected to create additional skilled knowledge workers in the areas of new technology and product development. Malaysia's nascent medical devices industry will be enriched by the introduction of SBi. The human capital development of the local orthopedics ecology in particular, will benefit from potential collaborations between SBi and the local researchers, entrepreneurs and surgeons.
The orthopedics industry builds on the precision engineering technology platform of electrical and electronic manufacturing and Malaysia's presence in the global supply chain. The SBi investment takes industrial development in the right direction and synergizes with the existing local capabilities. Khazanah believe this strategy of developing the nascent local industry through international collaborations will achieve the desired catalyzing effect. For further information, please contact Mohd Asuki Abas at +603 2034 0000 or via e-mail at asuki.abas@khazanah.com.my
About Khazanah Nasional Berhad
Khazanah is the investment holding arm of the Government of Malaysia entrusted to hold and manage the commercial assets of the Government and to undertake strategic investments. Khazanah was incorporated under the Companies Act 1965 on 3 September 1993 as a public limited company.
Khazanah has stakes in more than 50 companies with assets valued in excess of USD23 billion. Khazanah is also the state agency responsible for strategic cross-border investments. These companies are involved in various sectors such as power, telecommunications, banking, automotive, airport management, infrastructure, property development, broadcasting, semiconductor, steel production, electronics, investment holding, research technology and venture capital.
For more information on Khazanah, please visit: www.khazanah.com.my
About Small Bone Innovations, Inc.
Small Bone Innovations, Inc. (SBi) was founded in 2004 by Viscogliosi Brothers, LLC, (VB), a New York-based merchant banking firm that specializes in the musculoskeletal/orthopedics sector. VB created SBi as the first company to focus purely on small bones & joints. By integrating established companies and professionals in the field, SBi offers a broad, clinically proven portfolio of products and technologies to treat trauma and diseases in small bones & joints. Today, SBi has facilities in New York, NY, Morrisville, PA, Bourg-en-Bresse, France and Donaueschingen, Germany, among other locations worldwide. www.totalsmallbone.com