Venus Concept closes USD 38m equity financing

Venus Concept Ltd., a privately held global aesthetic technology company, has closed a USD 38 million equity investment, the company said.

The equity investment was led by EW Healthcare Partners along with significant participation from HealthQuest Capital and Madryn Asset Management.

This financing will help support the rapid growth of Venus Concept´s industry first and only subscription-based business model, the ongoing expansion and maturation of its 27 direct global offices, and the continued development of products to serve the aesthetic marketplace.

In conjunction with their investments, EW Healthcare Partners and HealthQuest will each receive one seat on Venus Concept´s board of directors.

Northland Securities, Inc. acted as the sole Placement Agent for this transaction.

Venus Concept is a global medical technology company that develops, commercializes, and delivers safe, efficacious, and easy-to-use aesthetic technologies and related practice enhancement services in a unique, industry-disruptive subscription-based business model.

Venus Concept´s devices have been designed in cost-effective and proprietary ways that enable the company to expand beyond the aesthetic industry´s traditional markets of dermatology and plastic surgery, and into non-traditional markets such as family practice, general practice, internal medicine, obstetrics and gynecology, and medical spas. Approximately 70 per cent of its devices are sold in non-traditional markets.

The company has expanded its subscription platform and is now selling its devices in over 60 countries, including 27 with direct offices. The company now has over 400 global employees whose customer-centric approach has supported the rapid growth of the company.

HealthQuest Capital makes early growth investments in innovative commercial-stage healthcare companies that are improving both patient outcomes and healthcare economics. Investments focus on medical products, diagnostics, healthcare IT, and technology-enabled healthcare services. HealthQuest Capital is headquartered in Menlo Park, CA with west coast and east coast offices.

Madryn Asset Management, LP is a alternative asset management firm that invests in innovative healthcare companies specializing in unique and transformative products, technologies, and services that create attractive economic opportunities. Backed by a seasoned executive management team, the firm draws upon its diverse expertise and original insights to deliver attractive returns for its limited partners while creating long-term value in support of its portfolio companies.