News
Smith+Nephew (LSE:SN, NYSE:SNN), the global medical technology business, is pleased to announce that it has invested in the inaugural impact investment fund of TEAMFund (“Transforming Equity and Access for MedTech”).
The Fund’s purpose is to invest in medical technology companies that give patients living in low-resource settings improved access to affordable, appropriate, and sustainable medical technologies. TEAMFund’s mission strongly aligns with Smith+Nephew’s purpose, to use technology to take the physical and mental limits off living for all.
Yousuf Mazhar, Managing Partner of TEAMFund, said:
“TEAMFund is an unprecedented industry supported initiative that seeks to address the growing healthcare burden of non-communicable diseases in geographies where access to affordable medical technologies is limited. We are grateful to Smith+Nephew and the many other organisations who have provided their financial support and industry expertise.”
TEAMFund’s initial geographic focus is India and Sub-Saharan Africa and expects to invest in 8-10 portfolio companies, with a 10-year horizon. To date, the Fund has made investments in ophthalmology, diagnostics, and cardiovascular companies.