07.08.2020

$3M Raised For Hydrix To Advance Key Growth Initiatives

Henslow is pleased to announce that we have assisted Hydrix to raise $3m,  acting as Underwriter to an $2m fully underwritten entitlement offer and Lead Manager to a $1m placement.

Hydrix Limited (ASX: HYD) is a powerful product innovation company, whose purpose is to enhance the health, safety, and wellbeing of 1 billion lives. The company leverages its powerful product innovation capability across multiple growth platforms. These platforms include Hydrix Services design and engineering to create products which transform markets; Hydrix Ventures to pick winning investments in high potential innovative products; and Hydrix Medical to create new product revenue streams bringing cardiovascular technologies to market which improve patient mobility and quality of life.

Accelerated implementation of operating and strategic initiatives

Funds raised have been used to reduce debt and provide working capital and balance sheet support to accelerate key growth initiatives including in Hydrix Medical.

Hydrix Medical continued to progress planning of regulatory and reimbursement approvals,in connection with its exclusive rights to distribute the AngelMed Guardian System (world’s first implantable heart attack alert device – FDA approved).

Continued performance and progress through an arduous time

Gavin Coote, Hydrix, Executive Chairman commented

“The full year results represent a solid performance despite the challenging COVID-19 environment. It was particularly pleasing that the core business achieved a cash operating profit in the fourth quarter. We made significant progress with Hydrix Medical acquiring the exclusive rights to distribute the AngelMed Guardian System in APAC. Further, we are pleased to announce the first sales and implants of the Guardian System are anticipated to commence in Singapore in the September quarter. Overall, the quarter reflects significant progress of the Company’s growth strategy.” 

Henslow has worked closely with Hydrix over the past two years, with this being the third capital raise that Henslow has undertaken for Hydrix. We look forward to growing our successful relationship with Hydrix. 

Want to discuss this transaction further? Get in touch with the Henslow team below.

Want to discuss this transaction further?
Get in touch with the Henslow team below.

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