Munich (ots) - - Cross-reference: A long version of the press release can be downloaded at ...
Top US Investor Steven F. Mayer becomes shareholder of Syntellix and will join Supervisory Board
Hannover (ots) - Important step for company´s North American strategy - Syntellix investor base now extends from Los Angeles to Singapore
Syntellix AG, a fast-growing medical technology innovator that is in the process of disrupting the global orthopaedic implant market using patent-protected magnesium technology based on its innovations in material science and biomedical engineering, today announced that well-known US private equity investor Steven F. Mayer has become a shareholder. In addition to his role as an investor, Mr. Mayer has agreed to join the Supervisory Board of the company. Syntellix core products have obtained product registration in approximately 50 countries, including the EU, and Syntellix is preparing for an IPO to exploit the enormous market potential of its technology not only in the area of orthopaedic and trauma surgery, but also in the fields of neurosurgery, dental, craniomaxillofacial, and other medical applications.
Until recently, Mr. Mayer was senior managing director, co-head of global private equity, and chairman of the investment committee of Cerberus Capital Management, L.P., one of the world's leading private investment firms with approximately US$ 34 billion of capital under management. Mr. Mayer, who has over 20 years' experience in private equity investing across a wide variety of industries, has served on numerous boards of directors (or similar governing bodies) of public and private health care and other companies. He is a graduate of Princeton University and Harvard Law School.
Syntellix CEO, founder and main shareholder Prof. Dr. Utz Claassen stated, "We are pleased to welcome Mr. Mayer as a shareholder and future member of the Supervisory Board. It is both a pleasure and an honor for us to have a world class professional of his experience and reputation help us utilize and develop the unique potential of our innovations for the benefit of patients, doctors, and health systems around the world. Syntellix products have already been used successfully in thousands of surgeries, and the unique characteristics of our products can translate into better surgical outcomes, fewer follow-on procedures, and substantially lower cost to payors. Mr. Mayer's arrival comes exactly at the right time, as his strategic and capital markets expertise, combined with the operational and financial rigour he will add to our Supervisory Board, can bring significant value to Syntellix as we prepare to go public and continue our rapid expansion."
Syntellix AG is an internationally operating, dynamically growing medical technology company, headquartered in Hannover (Germany). The company specializes in research, development, marketing and distribution of highly innovative transformable metallic implants. The products, which are made of the patented material MAGNEZIX®, are unique and, in a recent publication, have been found to be clinically superior compared with common titanium implants. They degrade in the body and are converted into endogeneous bone tissue while providing a favourable combination of stability, elasticity and bioabsorbability. Syntellix AG is the global market and technology leader in the area of bioabsorbable metallic orthopaedic implants and has already been honored with many major awards and prizes, including the Innovation Prize of the German Economy 2012/13, the Future Prize of the Health Industry Club 2016, the German Medical Award 2017, the STEP Award 2017, and it has also been honored as "Innovator of the Year 2017" in Germany. Syntellix founder Utz Claassen himself received the award as "Most Innovative Entrepreneur International 2016" from the hands of EU Commissioner Günther Oettinger, not least for his work for Syntellix.