Tekcapital plc Acquisition of Medical Devices (9989U)

TIDMTEK

RNS Number : 9989U

Tekcapital plc

13 April 2016

Tekcapital plc

("Tekcapital" or the "Company")

Acquisition of Medical Devices

Establishment of Subsidiary Company to Provide Premium Medical Products at Affordable Prices

Tekcapital plc (AIM: TEK), an international provider of technology and intellectual property services, announces that its subsidiary, Belluscura Limited, has acquired exclusive licences to manufacture and sell three proprietary medical devices. The devices have been developed by and exclusively licensed from Stryker Corporation, a leading medical technology company. The devices have achieved regulatory approval where necessary and have already achieved commercial sales.

The devices are:

   -       "Slyde(TM) ", a non-ambulatory patient evacuation sled; 
   -       "Passport(R)", a trocar for use with the Da Vinci(R) Surgical System (keyhole surgery); and

- "SNAP II", a level of consciousness monitor for use during surgical procedures requiring general anesthesia.

The products are protected by a portfolio of 19 issued and pending patents.

The exclusive licences have been acquired by Tekcapital's newly formed UK subsidiary, Belluscura Limited ("Belluscura"). Belluscura has been established in order to commercialise these products, for which a new management team is being put in place. It is intended that Belluscura will market and expand sales of the devices, initially in the US and Western Europe, using third party manufacturing, and will look to acquire further exclusive licences to sell other medical devices in the future. Tekcapital is exploring the possibility of Belluscura raising funds via an IPO on AIM (a market operated by London Stock Exchange Plc) to accelerate its growth strategy.

Tekcapital now owns 95% of the share capital of Belluscura and Stryker Corporation owns the remaining 5%.

Dr. Clifford M. Gross, Executive Chairman of Tekcapital, commented: "We are very pleased to announce the establishment of Belluscura and the acquisition of its first three medical devices. Belluscura's mission is to provide premium, proprietary medical devices at affordable prices."

For further information please contact:

 
                                        +1 305 200 3450 
 Tekcapital Plc                          Ext 305 
  Clifford M. Gross                     info@tekcapital.com 
 
 Allenby Capital Limited (Nominated 
  Adviser & Joint Broker)               +44 (0)20 3328 5656 
 Jeremy Porter / Alex Brearley 
 
 Optiva Securities Limited (Joint       +44 (0) 20 3137 
  Broker)                                1904 
 Jeremy King / Vishal Balasingham       jeremy.king@optivasecurities.com 
 
                                        +44 (0) 20 7933 
 Walbrook PR Ltd                         8780 
 Paul Cornelius / Paul McManus 
  / Helen Cresswell                     tekcapital@walbrookpr.com

Tekcapital plc - The World's Largest University Network for Open Innovation

Tekcapital helps clients profit from new, university-developed intellectual properties. With our proprietary discovery search engine, linked to 4,000+ universities in 160 countries, coupled with expert scientific review, we provide a turn-key service to make it easy for clients to find and acquire the IP they need to create a competitive advantage. Tekcapital plc is listed on the AIM market of the London Stock Exchange (AIM: symbol TEK) and is headquartered in Oxford, in the UK. For more information, please visit www.tekcapital.com

This information is provided by RNS

The company news service from the London Stock Exchange

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April 13, 2016 02:00 ET (06:00 GMT)

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