One of the funds managed by SHS Gesellschaft für Beteiligungsmanagement has invested in the Austrian company Tyromotion.
The company is one of the world's leading manufacturers and distributors of robot-assisted and computer-assisted therapy units for the rehabilitation sector and has its headquarters in Graz. SHS is investing in the company with its fourth fund and can also rely on venture capital provided by the Austrian State Development Bank aws as part of its venture capital initiative.
Tyromotion develops and sells integrated solutions for the rehabilitation primarily of stroke patients based on modern robotics and sensor technologies. Smart networking of individual devices allows physicians and therapists to provide their patients more intensive and thus more effective treatment. At the same time, the motivating and playful elements the training programs provide an ideal type of therapy. The company's portfolio includes products for finger, hand, arm and torso rehabilitation. The variety of devices produced by the company for these therapies range from Tyromotion's first development, a robot-assisted and computer-assisted device for finger and hand therapy (Amadeo), to an arm and shoulder rehabilitation device (Diego), which is the world's most advanced and versatile of its kind. Tyromotion has already delivered a total of over 1000 devices to about 300 hospitals, rehabilitation centres and therapeutic practices around the world.
"Using our computer-assisted and robot-assisted therapy equipment provides patients with more targeted and intensive training," says David Ram, Managing Director of Tyromotion. "With the support of SHS, we will be able to continue our global expansion at a much faster pace. Our innovative devices will now help even more people achieve faster recovery. This is an excellent prospect for our company, our employees and the patients!"
"Tyromotion helps patients and therapists make rehabilitation more effective. The products and a worldwide distribution network consisting of renowned partners serve as an excellent foundation for the company's further development. This market position and growth potential convinced us," explains Reinhilde Spatscheck, Managing Director and Partner at SHS. "We can provide Tyromotion with additional growth impetus with our extensive network and over 20 years of experience in the medical technology and life-science industries."
With this investment in Tyromotion, SHS is continuing to expand its presence in Austria. At the beginning of 2015, the Tübingen-based growth investor had already entered a close partnership with Austria Wirtschaftsservice (aws), the Development Bank of the Republic of Austria. With funds from its venture capital initiative, aws provided support and thus facilitated the mobilization of venture capital. With the opening of an office in Linz and Friedrich Baldinger as SHS Venture Partner there, the investment firm has further strengthened its presence in the country. SHS is already invested in Austrian companies with its third fund. One of these companies is Miracor Medical Systems, a Viennese company which develops and markets therapy technology to reduce myocardium damage.
With a total volume of 125 million euro, the fourth SHS fund is focusing on expansion financing, changes in shareholder structures and successor situations. The Tübingen based investor is planning further acquisitions and investments in the fast-growing medical technology and life-science industries in Germany, Austria and Switzerland in the months ahead.
SHS was advised on the transaction by Martin Wallner and Paul Schörghofer from the law firm Frotz Riedl.
