Accuron Technologies Limited today announced that it will spin out its MedTech business. The Accuron MedTech Group (Accuron MedTech), Southeast Asia’s largest medical device business, will be established as a leading vertically integrated urology business. As a result of the spin out, Accuron MedTech will be directly owned by Temasek. The move will allow Accuron MedTech’s management team to better focus on global MedTech growth and investment opportunities. It is anticipated that the process will be completed by March 2019.
Philip Yeo, Chairman of Accuron Technologies Limited, said: “Accuron MedTech has been managed as an independent division of Accuron Technologies for some time now. The spin out will enable Accuron MedTech to be more agile in managing its operations, putting it on a stronger platform for sustained growth and technology commercialisation. The move will also allow Accuron Technologies Limited to focus its resources to pursue opportunities in the growing Aerospace and Industrial businesses.”
Over the past 3 years, Accuron MedTech has grown its revenue by more than 30% through the launch of new products such as the Delta III, the first SmartLitho for stone treatment, and more than 10 M&A transactions.