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Acquisition

MedAlliance, a Pioneering Medical Device Startup, acquired by Cordis of USA in a Landmark USD 1.135 Billion Deal

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MedAlliance, the visionary Swiss-based medical technology company, is delighted to announce the successful acquisition by Cordis, a transaction valued at USD 1.135 billion (Rs. ~ 10,000 Crores). This union represents a remarkable milestone in the realm of medical innovation, furthering our shared commitment to addressing global healthcare challenges.

Amit Bohora, an early MedAlliance partner, who diligently helped steer this transaction from its inception to its conclusion, hails this acquisition as a testament to our unwavering dedication to serving patient benefit and humanity’s medical needs.

“MedAlliance, a pioneer in drug device combinations, has harnessed innovation to provide a ground-breaking solution – the patented Sirolimus Drug Eluting Balloon, Selution SLR. This innovation ensures the effective delivery of the necessary medication while leaving nothing behind, revolutionizing the landscape of stentless PCI angioplasty. With Cordis, a vanguard in the field that introduced CYPHER Drug-Eluting Stents in 1999, championing this innovation is the logical progression. MedAlliance’s years of research, coupled with ongoing and successful clinical studies in Asia, Europe and the United States, has resulted in CE mark approvals and four breakthrough US FDA IDE indications.” cites Mr. Amit Bohora.

“Amit has been a key contributor since foundation to MedAlliance’s business and he has been an intricate part of our success, advising management and leading the worldwide commercial team, as well as the Asian clinical team. He was responsible for several important studies, including leading the Indian coronary study used for CE mark approval and has assisted in fund raising and led the commercial transition of MedAlliance integration into Cordis.” said Mr. Jeffrey Jump, Founder, Chairman and CEO of MedAlliance.

At the core of this achievement lies MedAlliance’s ground-breaking creation – the Sirolimus Drug-Eluting Balloon (DEB), renowned as Selution SLR. This transformative technology is poised to impact the lives of millions around the world.

“I have known Amit for over two decades, he has played an important role in creating and bringing to market an innovative technology that has a potential to serve millions of patients in this exciting era of Stentless Angioplasty. With first-hand experience coupled with impressive clinical outcomes, SELUTION SLR in India, Japan and Europe. This technology has the distinct opportunity to change the treatment paradigm for patients suffering from Cardiovascular and Peripheral Disease” commented Dr. Praveen Chandra– Chairman – Interventional & Structural Heart Cardiology, Medanta Hospital, India.

MedAlliance, with its manufacturing facility in the United States and cutting-edge research and development centers in Switzerland and Singapore, specializes in pioneering technology and the commercialization of advanced drug-device combination products, initially tailored for coronary and peripheral artery diseases. Currently, more than 1,700 patients, out of a planned 3,326, have been enrolled in a ground-breaking Coronary randomized controlled study, designed to compare SELUTION SLR with any limus Drug-Eluting Stent (DES), with the aim of demonstrating the superiority of SELUTION SLR DEB over DES. SELUTION DeNovo, the largest DEB study ever initiated, holds the potential to redefine medical practice. Furthermore, following successful in human trials in Asia, this ground-breaking product is being embraced by distinguished cardiologists and esteemed specialty hospitals in India and rest of the world. 40,000 patients worldwide have benefited from this technology.

“With over two decades of experience in healthcare and medical technology, spanning strategy, research, and business, Mr. Amit Bohora has been instrumental in vision of making this transformative technology accessible worldwide, as I am sure he will do for many companies in the future”, said Jeffrey B. Jump, founder, Chairman and CEO of MedAlliance.

“With over 100 million diabetic patients, India stands at the threshold of a medical technology revolution, a trillion-dollar opportunity. The nation’s burgeoning healthcare sector not only fuels economic growth but also benefits from a positive funding environment. In a country boasting one of the world’s largest cardiovascular patient population, this is the next frontier of growth in healthcare. The Indian medical device industry, already valued at 90 Thousand Crore Rupees (11 Billion USD), is projected to surge to 3.6 Lakh Crore Rupees (44 Billion USD) by 2030, underscoring the immense potential and vitality of the healthcare landscape in India.” added Mr. Amit Bohora.

The acquisition of MedAlliance serves as an indomitable reminder that extraordinary products, when aligned with the noble mission of enhancing human lives, should be made universally available. Cordis will play a pivotal role in the marketing, distribution, and global accessibility of this revolutionary Drug-Eluting Balloon. As the company continues its journey toward securing US FDA Investigational Device Exemption (IDE) approvals, it stands on the precipice of delivering profound impact to millions of lives in the immediate future.

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Acquisition

Digital marketplace Basic.Space acquires Design Miami/, the pre-eminent global forum for collectible design

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Basic Space- Basic Space acquires Design Miami

The announcement follows critically-acclaimed debut of Design Miami/ Paris

Today, Basic.Space – a curated marketplace that sells a blend of pre-owned/vintage and new, exclusive products – announces its acquisition of Design Miami/, a global forum that brings together collectible museum-quality 20th and 21st-century furniture, lighting, and objets d’art from leading galleries at fairs in Miami Beach, Basel, Shanghai and Paris.

In addition to creating a robust e-commerce strategy for Design Miami/ to cultivate other categories of collectible material, Basic.Space will introduce new collaborations with designers, establish creative ways to evolve the fairs’ format and explore additional locations for fairs.

Design has become the fastest-growing category within Basic.Space, and this acquisition will further expand the company’s home and art offerings at a time when Gen Z and Millennials, the largest group of consumers, are increasingly investing in collectible design across all categories.

Craig Robins, co-founder of Design Miami/ and an early seed investor in Basic.Space, will join the Basic.Space board.

“Combining Basic.Space’s digital reach, keen understanding of curated collaborations, and community of leading-edge creatives with Design Miami/’s global forum of galleries, designers and luxury brands will invigorate the brand and position it for expansion into new territories for live experiences,” says Design Miami/ co-founder, Craig Robins. “Furthermore, benefitting from Jesse’s vision, Design Miami/ will have one of the most innovative and creative thinkers in the digital space creating new and exciting strategies for growth.”

Design Miami/ will continue to run independently with Jennifer Roberts remaining as CEO to oversee all fairs. Jesse Lee, the CEO and Founder of Basic.Space, will now serve as the chairman of the Design Miami/ board. The acquisition is an all-stock transaction signaling alignment from all stakeholders of the deal’s long-term vision and potential impact.

“Our community has become passionate about products beyond fashion, spending more on collectible design and related categories, and valuing both historic and contemporary material. This is an opportunity to both meet that demand and shape how this and future generations will consume,” says Basic.Space Founder and CEO, Jesse Lee. “To us, design isn’t just a product category; it’s a mindset and a point of view that guides you through every purchase decision. We believe that everyone should have access to exceptional products from uniquely creative individuals and brands; this partnership also helps us expand globally.”

Basic.Space has offices in Los Angeles and New York, and Design Miami/ will remain headquartered in Miami.

About Basic.Space

Basic.Space is a digital marketplace with a curated blend of pre-owned/vintage items, new limited edition products and exclusive brand collaborations. Each seller is onboarded and verified by the Basic.Space team directly – sellers consist of designers, artists, musicians, photographers and athletes. Multi-hyphenate creatives such as Emily Oberg, Purienne, Justin Reed, Agnes Azria and Dr. Woo are selling their own pre-owned and vintage pieces alongside brands like Mirror Palais, Alessi, Basketcase, Saintwoods, and Aquatic Leisure Center, selling new, exclusive products. Since officially launching in 2020 with Naomi Osaka as the featured seller, Basic.Space has over 500 active verified sellers on the platform.

About Design Miami/

Design Miami/ connects the world through extraordinary collectible design, with live fairs and experiences on three continents that bring together galleries, designers’ studios, brands, experts, collectors, and enthusiasts, and designmiami.com, a content-rich digital marketplace. Each edition of Design Miami/ features museum quality 20th and 21st century furniture, lighting, and objets d’art from the world’s top, expertly vetted galleries with flagship fairs taking place alongside Art Basel in Miami, Florida, each December, Basel, Switzerland, each June and Paris, France each October.

Craig Robins and Jesse Lee / Credit: @_unfollowing

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Acquisition

Leading manufacturer of functional aftermarket accessories RealTruck, Inc. acquires Mountain Top

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Leading supplier of premium truck accessories outside North America joins RealTruck family

RealTruck, Inc., the premier manufacturer of functional aftermarket accessories and an online destination for truck, Jeep®, Bronco® and off-road enthusiasts, has acquired Mountain Top, the leading designer and manufacturer of truck bed accessories outside North America. Based in Denmark, Mountain Top supplies major original equipment manufacturers (OEMs) and sells truck accessories throughout Europe, Asia, Australia, and the U.S. The acquisition accelerates RealTruck’s international expansion and complements its recent acquisition of Mexico-based brand Go Rhino.

“We’re delighted to bring Mountain Top into the RealTruck family to power our international expansion and growth,” said RealTruck CEO Carl-Martin Lindahl. “We look forward to working with the Mountain Top team to build upon their global relationships and expand the reach of our products around the world.”

Mountain Top has state-of-the-art manufacturing facilities in Denmark, Thailand and the U.S. and is the only European truck bed cover supplier of scale certified by the International Automotive Task Force (IATF), ensuring quality products to automotive consumers worldwide. Mountain Top’s advanced manufacturing capabilities and footprint provide RealTruck with more capacity to support global operations and accelerate sales into attractive markets such as Australia, Thailand and across the European continent. Mountain Top’s flagship product line is the premium retractable truck bed cover that comes in both electronic and manual versions.

“Our entire team is excited to join the RealTruck family,” said Mountain Top CEO Henrik Støwer Petersen. “Now we can provide even more value to our business partners with access to a broader range of product offerings for a wider audience. Our strong international sales, product, and manufacturing teams will make RealTruck products available for truck, Jeep, Bronco and off-road enthusiasts throughout the world.”

In August, RealTruck acquired IDDEA (Industria Diseñadora De Autopartes, S.A. De C.V.), which goes to market under the well-known Go Rhino brand. Go Rhino holds 40 issued and pending patents for the innovative premium products it develops and manufactures for truck, Jeep and SUV owners. The acquisition strengthens RealTruck’s existing portfolio of brands spanning truck bed covers, truck bed liners, steps, floor liners, fender flares, vent visors and cargo management.

RealTruck’s acquisition of Mountain Top, the leader in the OEM-focused European truck bed accessories market, further expands RealTruck’s global footprint and supply base.

About RealTruck
RealTruck is the premier manufacturer of functional aftermarket accessories and digital destination for truck, Jeep®, Bronco® and off-road enthusiasts. Headquartered in Ann Arbor, Mich. with over 5,000 associates across 47 locations throughout North America, RealTruck continuously designs, develops, manufactures and sells industry-defining products with more than 630 patents and growing. RealTruck’s extensive product offering is a leader in each of its primary categories. The company’s omni-channel approach makes it easy for people to find the right products to transform their vehicle, gain expert advice and secure professional installation whether they’re shopping for products online at RealTruck.com or through the more than 12,000 dealer locations and automotive (OEM) partnerships who sell their products. RealTruck is engineered to deliver a seamless consumer experience from idea to installation. For more information, visit RealTruck.com.

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Acquisition

ALP Overseas acquires SoffSeal International Inc, in USA

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NEW DELHI, Oct. 9, 2023 — ALP Overseas (I) Pvt Ltd, a part of the Rs 2000 Cr ALP Group, today announced that its 100% USA subsidiary ALP USA Inc has acquired SoffSeal, a US based manufacturer of rubber seals and molded auto parts for leading US automotive brands. This second acquisition, will strengthen ALP Overseas’ offering in US market and its distribution. ALP Group is a market leader in manufacturing weather seals in India, and has its presence in USA, Europe, Australia, and Africa as well. Speaking of the quick acquisition, Mr Tejbir Singh Anand, Managing Director of ALP Overseas, said, “The opportunity was good for us as we have mastered the art of manufacturing weather seals in India and can apply the same manufacturing and distribution acumen in SoffSeal to gain rapid growth.This will help USA auto parts industry and will help ALP Overseas to export SoffSeal products in other geographies.”

SoffSeal Weatherstripping and Rubber Details

Founded in 1980, SoffSeal, Inc., is the industry leader in manufacturing quality weatherstripping and rubber detail items. The company carries the widest selection of weatherstripping products for Chevrolet, Pontiac, Oldsmobile, Buick, Cadillac, GMC, Mopar and Ford applications from the 1920’s to the early 2000’s. The product line spans across full-size cars, street rods, muscle cars and trucks.

The company’s product range includes door seals, roof rail seals, convertible and t-top kits, gaskets and of course complete weatherstripping kits for Restoration applications.

SoffSeal – manufacturing capabilities include rubber transfer molding, injection molding and die cutting. The focus is in Automotive Restoration, however, the company does offer capabilities as a service; for manufacture of rubber products for the ‘Specialty Vehicle’ market segment. SoffSeal specializes in short run custom molded rubber products, with the manufacturing know-how to help all industries.

About ALP Group

ALP Group is a leading manufacturer of Rubber, EPDM, Polymer,and Silicon products for Automotive, Railways and Aerospace industries. It also has a range of Thermal & Acoustic Insulation products for HVAC, Construction industries, and packaging applications. The company manufactures several household products as well, e.g anti-skid bathroom mats, yoga mats, window and door seals, shower seals, door stoppers and anti-fatigue kitchen mats. The group turnover is US$ 240 million, while the capital employed is close to US$ 100 million. The Group, founded in 1985, has, at present, seven state of the art manufacturing units, located in India & across South Africa and Australia. It also has its presence in Europe, USA, Middle East and South East Asia with a total of 11 companies across the world and employs over 4000 trained workforce.

ALP Overseas (I) Private Limited

ALP Overseas,leverages the group’s strength in Polymer Technology to cater to various International customers. The Company utilizes manufacturing facilities in Australia, India, and South Africa and has distribution network in Europe, USA, Middle East, and Africa.The company already has a strong presence in USA, in auto glass replacement market.

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