Asia Bio Systems – Restructuring Debt for Future Growth

The Deal

With Poorly Managed Debt Financing Threatening Viability, ABS Required Urgent Restructuring

  • Asia Bio Systems (Thailand) Co., Ltd. was the pioneer in bringing the concept of outsourced biomedical engineering services to Thailand.
  • The company had grown steadily, if slowly, as it attempted to

Tractus’ Solution

Align interests, find a partner and set up a base in Asia

  • Tractus collaborated with Mardil to provide a full suite of services that covered the entire cycle of the project.
  • Tractus introduced Mardil’s management to the intricacies of the Asian markets and navigated various investor channels to deliver a successful private placement. The cornerstone of the engagement was to align the client’s interests with those of foreign investors.
  • Tractus assisted in structuring a partnership with the IJN, Malaysia’s National Heart Hospital that included setting up a center of excellence (COE) model, which was key to obtaining an investment from the Malaysian government.
  • Malaysia’s National Innovation Agency, also known as AgensiInnovasi Malaysia or AIM, took strategic interest in the client’s product and provided the next stage funding as a result of the achieved partnership.
  • Tractus led negotiations and due diligence efforts for the client’s private placement and set up a Malaysian entity for Mardil’s Kuala Lumpur-based subsidiary and research office.

Result

Redirected launch from USA to Asia and Europe

    • Mardil received US$5 million in funding from Malaysia’s AIM and is undertaking clinical trials.
    • It opened a research office in Kuala Lumpur and a regional center for excellence in partnership IJN Kuala Lumpur.
    • The company plans to sell its device in the Asian and European markets before entering the USA.
    • Top global business media outlets such as Bloomberg and the Wall Street Journal have reported on the client’s Asian private placement describing it as the next generation model of fundraising for American firms.

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