Mendor raises € 6,5 million growth financing

Luxembourg, 1 July 2014. IPF Partners today announced that it has provided debt financing of €6.5 million to Mendor OY, a Finnish medical technology company committed to the design, development and marketing of advanced diabetes management products.

The investment recognises the high growth prospects of Mendor with its innovative all-in one glucose meter, Discreet®. Discreet® is distributed by Menarini in Europe and recently Mendor has signed an agreement to enter the Chinese market. The funding will predominantly be used to help the company accelerate the roll-out into further regions and finance the FDA approval process in order to access the US market.
 
About Mendor
Founded in 2006 in Helsinki, Finland, Mendor designs, develops and markets innovative diabetes management products. Mendor's first product, Discreet®, a blood glucose meter, is designed to simplify the lives of people with diabetes who regularly need to test their blood glucose levels. Discreet® contains all the necessary components for daily blood glucose measurements: the meter, 25 strips and a lancing device in an integrated, all-in-one device with the size and appearance of a cell phone. Discreet® has received high praise from patients and their health care providers all over the world. Mendor Balance®, Mendor's second product, is a cloud-based diabetes data analytics and care platform for storing, sharing and analyzing individual glucose data from more than 30 different glucose meters, for the improvement of diabetes care. The information produced by the application gives health care professionals a solid platform for discussion with the patient for improving the treatment and for managing their own diabetes practices.
www.mendor.com
About IPF Partners
IPF Partners is a leading alternative financing provider focused on the European healthcare sector. IPF I, the first fund managed by IPF, invests directly in emerging, commercial-stage European pharma/biotech, medtech and diagnostics companies.
The company was founded in 2011 by a seasoned multi-disciplinary team combining over 50 years of finance and investment and over 30 years of healthcare experience.
IPF has developed a unique business model using the team's specialist sector knowledge to provide bespoke, long-term financing solutions. Following its first closing in October 2013, the fund has €80 million of assets under management.
www.ipfpartners.com or contact@ipfpartners.com

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