Rayner Surgical Group Acquisition & Valuation

Equashield is a medical device manufacturer specializing in closed system transfer devices that prevent exposure to hazardous drugs during compounding and administration. Its flagship product, the Equashield PRO platform, features a needle-free, mechanically closed system compliant with USP <800> standards for handling antineoplastic agents. Headquartered in Port Washington, New York, with operations originating from Israel since its founding in 2007, the company supplies over 1,000 hospitals across North America, Europe, and Asia. Equashield holds FDA 510(k) clearance and NIOSH certification, and it partners with major distributors like McKesson and Cardinal Health to protect pharmacists and nurses from aerosols and vapors.

Everlywell is an Austin, Texas-based digital health company, founded in 2015, that sells at-home lab testing kits for conditions including cholesterol, thyroid health, fertility, testosterone, food sensitivities, and sexually transmitted infections, with results reviewed by physicians through partnered labs. The company added COVID-19 sample collection kits in March 2020, scaling to handle up to 250,000 tests per week during the pandemic. Its direct-to-consumer model combines e-commerce sales of test kits with lab fees, physician review, and subscription revenue for repeat testing.

Wilson Wolf Corporation is a medical device manufacturer headquartered in Eden Prairie, Minnesota, producing gas-permeable cell culture flasks and bioreactors for mammalian cell expansion in applications like monoclonal antibody production, stem cell therapy, and tissue engineering. Established in 1998, the company supplies platforms used by researchers at Mayo Clinic and universities for immunotherapy and diabetes research.

Alpha Tau Medical Ltd is a clinical-stage oncology therapeutics company focused on harnessing the innate relative biological effectiveness and short range of alpha particles for use as a localized radiation therapy for solid tumors. Its proprietary Alpha DaRT technology is designed to utilize the specific therapeutic properties of alpha particles while aiming to overcome, and even harness for potential benefit, the traditional shortcomings of alpha radiation's limited range. The company has active clinical programs targeting a range of different tumor types, such as head and neck cancer, pancreatic cancer, brain cancer, liver metastases, lung cancer, and prostate cancer. Geographically, it operates in Israel, United States, and Japan with the majority of the revenue generated from Israel.

Sansure Biotech Inc is engaged in production and sales of diagnostic reagents and instruments. The company produces Class I medical devices, Class II medical devices, Class III medical devices, general instruments and meters, medical raw materials, medical laboratory equipment and appliances, and medical accessories.

Rapid Medical is an Israeli medical technology company that develops minimally invasive devices for the treatment and prevention of stroke. Its products include the Tigertriever revascularization device and the Comaneci adjustable remodeling mesh, both used in neurovascular procedures. Rapid Medical has partnered with MicroPort, which holds exclusive commercial rights to three of the company's flagship products in Greater China.

Shandong Weigao Orthopaedic Device Co Ltd is engaged in the research and development, production and sales of orthopedic medical devices.

Zhongyuan Union Cell & Gene Engineering Corp Ltd is engaged in stem cell technology research, as well as detection and storage sources of stem cells in China. The company insists on the core strategy upon dual-core development of 'cell + gene' with the major businesses covering various cell storage businesses of newborns and adults; the preparation and storage of cord blood hematopoietic stem cells, umbilical cord mesenchymal stem cells, placental pluripotent stem cells, adipose-derived stem cells and immune cells; genetic testing services relating to children's genes.

FibroGen is a biopharmaceutical company discovering therapies based on hypoxia-inducible factor and connective tissue growth factor biology for anemia, fibrosis, and cancer. Its flagship product roxadustat, a HIF-PH inhibitor, received approval in China in 2018 and Japan in 2019 for anemia in chronic kidney disease, with ongoing global trials. Headquartered in San Francisco, California, FibroGen partners with AstraZeneca and Astellas for commercialization in multiple regions.

Arcs Co Ltd is a Japan-based company principally engaged in the supermarket business. The company also operates other businesses through subsidiaries, including tourism, building maintenance, real estate leasing, property and casualty insurance and life insurance agency, wholesale, food manufacturing, industrial and general waste collection, and construction businesses. The supermarket segment offers a broad range of merchandise, including foods, apparel, and housing-related products.

MindMaze is a Lausanne-headquartered digital neurotherapeutics company founded in 2012 with offices in Zürich, Ecublens, Switzerland, and San Francisco. It develops medical-grade virtual reality platforms like MindMotionPRO for neurological rehabilitation, offering personalized VR exercises that enhance motor recovery for stroke and brain injury patients. The technology incorporates 3D motion capture, gesture recognition, augmented reality, brain imaging, and neuroscience for intuitive human-machine interfaces. MindMaze's solutions optimize clinician workflows, support therapy dosing, and extend to gaming and brain-computer control applications.

Science is a clinical-stage medical technology company developing brain-computer interfaces for vision restoration, cognitive enhancement, and motor control. San Francisco-headquartered, it offers Axon neural probes, SciFi headstages, and Synapse protocols alongside implantable devices like PRIMA photovoltaic arrays for retinal diseases. The platform integrates neural recording, optogenetics, and software for modular neuroengineering applications.

Alphatec Holdings Inc is a medical technology company focused on the designing, development, and advancement of products for the surgical treatment of spinal disorders associated with disease and degeneration, congenital deformities, and trauma. The company's spine approach technologies include Posterior Cervical Fusion, Anterior Cervical Discectomy and Fusion, Lateral Interbody Fusion, and Posterior Lumbar Interbody Fusion among others. Its procedural offerings are designed to address the underlying causes of spinal pathology by advancing the three fundamental objectives of spine surgery: (1) decompression of neural elements, (2) stabilization of spinal segments, and (3) restoration and maintenance of proper spinal alignment.

Shenzhen Camsense Technology Co Ltd specializes in developing spatial sensing products, with a focus on robotic vacuums. Leveraging AI technologies, it builds intelligent spatial sensing systems and provides algorithms and hardware for robotic vacuums. The company offers a diversified product portfolio covering traditional triangulation LiDAR, dTOF LiDAR, 3D TOF LiDAR, and line laser sensors. Its products are already widely used in the robotic vacuum cleaner field. Geographically, the maximum revenue is generated from the Chinese mainland. The company derives revenue by supplying spatial sensing components to robotic vacuums for integration into their devices.

Huihe Healthcare is a Shanghai-headquartered medical device company established in 2019. The firm specializes in innovative devices addressing structural heart diseases, including transcatheter solutions for mitral and tricuspid valve repair.

Zhuhai Trinomab Pharmaceutical Co Ltd is a biopharmaceutical company engaged in the development, production and sales of fully human antibody drugs.

Immunocore Holdings PLC is a commercial-stage biotechnology company. Using its ImmTAX platform, the company is developing a deep pipeline in multiple therapeutic areas, including clinical stage programs in oncology and infectious disease, pre-clinical programs in autoimmune disease, and earlier pre-clinical programs across three therapeutic areas. The company's main product, KIMMTRAK, is used for the treatment of unresectable or metastatic uveal melanoma (mUM). The other drug candidates in its pipeline include Brenetafusp, IMC-P115C, IMC-T119C, IMC-R117C, IMC-S118AI, IMC-U120AI, and others, being developed as a potential treatment for various oncology, infectious, and autoimmune diseases.

Scivita Medical Technology is a medical device manufacturer specializing in advanced endoscopy systems for minimally invasive diagnostics and surgery. Its portfolio includes 4K ultra-high-definition endoscopes, 3D visualization platforms, narrow-band imaging for fluorescence, and single-use disposable scopes covering flexible and rigid formats. Headquartered in Hangzhou, China, the firm holds certifications from China's NMPA and exports to over 50 countries. Scivita supplies products to hospitals in gastroenterology, urology, and ENT fields, with notable deployments in Asia-Pacific surgical centers.