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100 Million Euro Boost for avateramedical

avateramedical secures additional 100million Euro in financing from Tennor Holding B.V.

German medical technology business, avateramedical GmbH, has secured 100million Euro additional financing commitment for its majority shareholder Tennor Holding B.V., an investment holding company. The financing increases Tennor’s investment in avateramedical to 250million Euro. The surgical robotics company will use the funds to further its rapid growth.

Lars Windhorst, Chairman of the Advisory Board of Tennor, commented: “As avateramedical’s majority owner, we are impressed by the Company’s advances over the last months. avatera® is the first German system for robot-assisted, minimally invasive surgery and has already successfully completed CE conformity assessment. I am happy to provide additional financial assistance for the development of a cutting-edge German technology that will provide surgery teams with a reliable, cost-efficient and customizable solution for robot-assisted surgery while giving patients optimal care under the highest safety standards. avateramedical is on a consistent growth path, and I am pleased to further support the Company with this investment.”

“After a period of intense preparations, we now have successfully completed the first surgeries on donated human cadavers using our avatera® system. We have received highly positive and constructive feedback from surgeons and operating room teams, which provides us a solid basis to initiate our planned clinical trials in urological and gynecological surgeries. In parallel, we have expanded our team of experts in user experience, image processing, cloud computing, virtual reality and artificial intelligence with the acquisition of FORWARDttc, which provides a complementary skill set to avateramedical,” said Oliver Kupka, CEO of the avateramedical Group. “We are very thankful for Tennor’s significant financial commitment and the trust placed in avateramedical. On our path to market, these funds will give us the financial strength and operational flexibility to efficiently and quickly achieve our milestones.”

avateramedical recently announced the acquisition of software and hardware automation technology specialist, FORWARDttc GmbH.

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