Healthcare investor Apposite Capital has invested in medical device company Emblation, to support its international growth and broaden its market offering.
Created in 2007 by Gary Beale and Eamon McErlean, Alloa-based Emblation designs, manufactures and commercialises microwave-based solutions for a range of skin conditions. Its Swift product offers a non-ablative, effective treatment for common and plantar warts and Emblation’s products are also used in the treatment of certain cancers. Emblation stated that its systems are currently sold in the UK, North America and Australia, and have been used in more 130,000 treatments to date.
Alongside the investment, Jim Atkinson, former vice-president sales of Ulthera, a previous Apposite Capital portfolio company focused on aesthetic medical devices, has been appointed to the Emblation board together with Apposite Capital partner Rory Pope.
Commenting on this final platform investment from Apposite Healthcare Fund II, Pope said: “We are delighted to support a business that is delivering an enhanced patient experience and superior results in the fields of podiatry and dermatology. Swift’s low-energy microwave technology is unique and Emblation is well-positioned to continue delivering clinical breakthroughs and growth in adjacent pre-cancerous and cancerous indications. We are looking forward to working with Gary and the team as Emblation enters the next phase of its growth.”
Emblation’s chief executive Gary Beale added: “We are pleased to have secured an investment from Apposite Capital which will allow us to accelerate our international expansion into new and existing markets as well as continue to build on our technology platform and deliver groundbreaking clinical results. Apposite immediately recognised the growth potential of our technology, and I am particularly excited to be working with the firm given their understanding of the sector and their expertise in scaling-up businesses like ours.”
Advisors to Apposite Capital were Stephenson Harwood (legal), KPMG (accounting and tax) and the advisors to Emblation were William Blair (corporate finance), MacDonald Henderson (legal) and Mazars (accounting and tax).
Date published: May 25, 2021