Aug 19 2015
Vantage mHealthcare, Inc. (“Vantage Health” or the “Company”) today announced that Nanobeak LLC, its parent company, has engaged China Merchants Bank New York for a private placement of $20 million in equity for the Company exclusively for China.
Headquartered in China, China Merchants Bank Co., Ltd. is a leading commercial bank for corporate/investment banking and personal banking. With total assets of US $764 billion and a ROE of 19% at yearend 2014, China Merchants Bank was awarded the “Best Bank in China” by the Global Finance of the United States in their selection of the “Best Banks in Emerging Markets”. China Merchants Bank is presently the 6th largest bank in China.
Upon closing, this $20 million equity round will be used to fund expanded laboratory facilities in Mountain View, California, recruit additional scientific staff, fund clinical trials and subsequent regulatory approval. The prospective equity partner from China will also help the Company to develop strategic partnerships in China, the largest healthcare market in the world, for distribution and sales of the Nanobeak technology once development is concluded and regulatory approvals have been met.
Mr. Chengyue Jiao, General Manager of China Merchants Bank New York Branch commented, “We are excited to work with a US medical device company dedicated to providing a revolutionary product for early stage cancer detection. With its success, it will benefit patients and consumers in China tremendously, and help to reduce death rates and create social benefits. We are delighted the Company chose to work with China Merchants Bank as its exclusive transaction adviser for China, and to leverage our extensive client relationships there to capture the capital and investment interest to support one of the world’s largest healthcare markets.”
Mr. Joseph Peters, President of Vantage mHealthcare said, “We have been searching for the right investment banking partner in Asia and China Merchants Bank fits well with our strategy in executing our business plan. They have a highly regarded reputation and we are excited to be the beneficiary of their vast experience throughout China.”
On Monday, August 24, 2015, Vantage mHealthcare, Inc. will officially change its name to Nano Mobile Healthcare, Inc.
Source: http://www.vantagemhealthcare.com/