Sale of Innovations portfolio Stanmore Implants

29 April 2016

Imperial Innovations Group plc

Sale of Innovations portfolio Stanmore Implants

Imperial Innovations Group plc (AIM: IVO, 'the Group', 'Innovations') notes that portfolio company SIW Holdings Limited ('SIW Holdings' or the 'Company'), the holding company of Stanmore Implants Worldwide Limited ('SIW Limited'), has sold its business to Stryker Corporation ('Stryker') for a completion payment of £35.6 million.

The transaction is being effected by the sale of SIW Holdings' wholly-owned subsidiary and operating company SIW Limited. Through Innovations' interest in SIW Holdings, the Group will share in the net proceeds of circa £4.8 million once they have been distributed by SIW Holdings to its shareholders. Prior to the sale, Innovation's had a 16.4% interest in the Company. This transaction will crystallise a net fair value gain of circa £1.4 million.

Stanmore Implants is an orthopaedics company focused on the specialist design and manufacture of patient-specific implants for complex orthopaedic reconstructions.​ It has developed a range of implant solutions for early intervention and complex bone and joint reconstruction and works closely with surgeons performing limb preservation implant procedures arising from complex revision arthroplasty, oncology, and trauma.

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Stryker is one of the world's leading medical technology companies and, together with their customers, they are driven to make healthcare better. Stryker offers a diverse array of innovative products and services in Orthopaedics, Medical and Surgical, and Neurotechnology and Spine that help improve patient and hospital outcomes. Stryker is active in over 100 countries around the world.

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Notes to editors

About Imperial Innovations - www.imperialinnovations.co.uk 

Imperial Innovations Group plc ("Innovations") creates, builds and invests in pioneering technology companies and licensing opportunities developed from outstanding scientific research from the 'Golden Triangle', the geographical region broadly bounded by London, Cambridge and Oxford. This area has an unrivalled cluster of outstanding academic research and technology businesses, and is home to four of the world's top 10 universities, as well as leading research institutions, the cream of the UK's science and technology businesses and many of its leading investors.

Innovations supports scientists and entrepreneurs in the commercialisation of their ideas, through the licensing of intellectual property, by leading the formation of new companies, by recruiting high-calibre management teams and by providing investment and encouraging co-investment. Innovations remains an active investor over the life of its portfolio companies, with the majority of Innovations' investment going into businesses in which it is already a shareholder.

Since becoming a public company in 2006, Innovations has raised more than £430 million of equity from investors, which has enabled it to invest in some of the most exciting spin-outs to come out of UK academic research. In addition, the Group has agreed £80.0 million in loan facilities from the European Investment Bank (EIB).

Between Innovations' admission to AIM (August 2006) and 31 July 2015, Innovations had invested a total of £236.8 million across its portfolio companies, which had raised collectively investment of £1.3 billion.