Lereko Metier Capital Growth Fund exits Surgical Innovations to Ascendis Health
Lereko Metier partnered the founding entrepreneurs of medical device distributor Surgical Innovations in 2008. Newly Johannesburg Stock Exchange listed healthcare group, Ascendis Health has now acquired Surgical Innovations.
Surgical Innovations, specialises in the consumable and equipment needs of surgeons, and has become a leading medical device distributor in South Africa by partnering top tier innovative international device companies and developing a national sales capability.
Commenting on the exit, Dalein van Zyl of Lereko Metier said “we were granted the required approvals on 21 January from the competition authorities and have received 70% cash and 30% in Ascendis shares for the purchase, resulting in meaningful returns for our investors and validation of the position that Surgical has established in the market since its formation in 2006”. Surgical Innovations has achieved compound annual growth in revenues of over 25% since 2008.