Accuron Technologies announced that it is spending out its medtech business into an integrated urology business owned by Temasek. The company expects the process to be completed by March this year.
“Accuron MedTech has been managed as an independent division of Accuron Technologies for some time now. The spin out will enable Accuron MedTech to be more agile in managing its operations, putting it on a stronger platform for sustained growth and technology commercialization,” Philip Yeo, chairman of Accuron Technologies, said in a press release. “The move will also allow Accuron Technologies Limited to focus its resources to pursue opportunities in the growing aerospace and industrial businesses.”
Accuron MedTech says that its revenue has grown more than 30% over the past three years after launching new products like the Delta II, the first SmartLitho for stone treatment.