Thornhill Medical has raised undisclosed amount in Series A funding from Shanghai based Yonghua Investment Management Co., Ltd. (上海湧鏵投資管理有限公司, Yonghua Capital)
Toronto based Thornhill Medical will use the funding to support working capital for its market released line of emergency mobile products, expand its global sales and marketing presence and continue clinical research in the fields of non-invasive cardiac and brain stress testing.
Thornhill Medical is Yonghua’s third Canadian medical device investment. In June 2017, it invested in Rostrum Medical and Evasc Neurovascular in 2016 and 2017 respectively.
In 2017, Thornhill Medical secured a strategic investment from Yonghua backed Rostrum Medical.
photo credit: Thornhill Medical
News Release
Thornhill Medical Completes ‘Series A’ Financing Round Led by Shanghai Based Yonghua Investment Management Co., Ltd.
TORONTO, July 19, 2018 Thornhill Medical (Thornhill), a Canadian based medical device developer announced that it has completed its ‘Series A’ offering being fully subscribed by Yonghua Investment Management Co., Ltd. (“Yonghua Capital”) of Shanghai, PRC. Thornhill Medical will use the funding to support working capital for its market released line of emergency mobile products, expand its global sales and marketing presence and continue clinical research in the fields of non-invasive cardiac and brain stress testing.
“The financial investment focus of the Yonghua Capital compliments Thornhill’s approach to clinical research, product development and global commercialization. We are excited to partner with such a dynamic and well-managed professional team as we continue our mission to deliver unique medical devices, using the lung as a portal, to transform current diagnostic and therapeutic patient care,” says Kipton Lade, President & CEO of Thornhill Medical.
Tina Huang, Managing Director of Yonghua Capital Healthcare Investment is “very pleased to announce the deal with another Canadian medical device company, continuing Yonghua’s international strategy in Canada. Thornhill has dynamic management and a robust R&D team, with the capacity to bring exciting innovation and care to patients globally. Coupled with Yonghua’s financial support and specialized resources in the medical industry in China, we will contribute to Thornhill’s continued success, thus facilitating investors’ belief in Yonghua’s value- investing philosophy.”
About Thornhill Medical
Thornhill Medical makes innovative healthcare devices. Our founder, Dr. Joseph Fisher, is a world-renowned research scientist in the field of anesthesiology and cardiovascular intensive care. Since spinning off from the University Health Network in 2003, Thornhill Medical has built upon his expertise to develop and manufacture compact mobile emergency respiration and anesthesia devices. Our full story can be found on our website www.thornhillmedical.com
About Yonghua Capital
Yonghua Capital is one of China’s most competitive private equity investors. As the primary investment vehicle of Yongjin Group, Yonghua Capital has rich experience in private equity investment and commits to become the most trustworthy financial service provider in the China capital market. So far Yonghua Capital has invested in over 100 outstanding companies, among which nearly 60 have been listed with stock exchanges. A seasoned team of professionals in industry research, finance, law and related regulatory policies, as well as the long-term cooperation with China’s well-known underwriters, law firms, accounting firms and other intermediaries, Yonghua Capital has succeeded in finding the undervalued companies and obtaining returns from the capital market.
Media Contacts:
Thornhill Medical
Kipton Lade
(416) 597-1325
klade@thornhillmedical.com
Yonghua Investment Management Co., Ltd.
Chong Wang
+86-021-50158736
wangc@yonghuacapital.com.cn