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Esco Lifesciences Group Strengthens IVF Portfolio by Acquiring Evidence Solution
News provided byEsco Lifesciences Group Ltd
Jul 05, 2022, 9:00 PM ET
SINGAPORE, July 5, 2022 /PRNewswire/ -- Esco Lifesciences Group ("Esco", the "Company") announces the full acquisition of Evidence Solution ("Evidence"), a Danish software company offering In Vitro Fertilization (IVF) management technologies and quality management systems ("Evidence witness system"). Evidence witness system is a witnessing, labelling, workflow scheduling and traceability system, specifically built for IVF clinics to prevent treatment errors.
"We are excited to welcome Evidence Solution to the Esco family. Evidence Solution is a young company established in 2019. With its innovative core technologies, the company has been expanding rapidly with a steadily growing client base," said XQ Lin, Chairman and CEO of Esco Lifesciences. "IVF market is expanding rapidly, through the inclusion of Evidence's witnessing feature to our best-in-class IVF devices, we will be able to provide our customers with more productive and compliant workflows."
With over a decade's worth of dedication towards research and product development, Esco Medical (the IVF medical device arm of Esco) has become one of the global leaders in the IVF industry. The Company has been proactively expanding the range of its IVF solutions. In November 2021, Esco strategically invested in a Chinese medical company specialized in IVF-enabling tools and consumables, diving even deeper into the IVF segment. As Esco unveils its 3.0 transformation, going forward, the Company will continue to leverage its unique position as a Singapore-rooted life sciences company to bridge the east and the west for collaborations in life sciences.
About Evidence Solution
Evidence Solution was established in 2019, its witnessing system has been designed in close cooperation with fertility clinics to establish traceability for all procedures in the lab and office. Aiming to become the ultimate traceability tool for IVF treatment, Evidence Solution provides all staff members, fertility clinics and IVF patients extra peace of mind with its highly functional, full feature witnessing software system.
About Esco Lifesciences Group
Esco Lifesciences Group is a multinational life sciences company rooted in Singapore, expanded globally, with business presence in over 130 countries across the US, Europe, the UK, China, Singapore, etc., and over 1500 employees worldwide. 2021 marked the start of Esco's 3.0 journey, the Company closed a record-setting USD200 million series A round led by renowned global investors Vivo Capital and Novo Holdings, with participation from EDBI, GIC and other sophisticated investors. Esco's vision is to build a global life sciences ecosystem based on a unique cross-border strategy, with Singapore as the nexus between East and West.
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SOURCE Esco Lifesciences Group Ltd