EverEdge Global is pleased to have advised Swisslog Healthcare, a leading supplier of medication management solutions, on the sale of its TransCar automated guided vehicle (AGV) business to OTSAW, a Singaporean robotics and artificial intelligence company, through the creation of a joint venture (JV). The JV will enable Swisslog Healthcare to provide a smooth transfer of intangible assets between the two businesses and ensure better customer support through this period.
Robert Oldin – CFO at Swisslog Healthcare said “We have an exceptionally strong team of innovators within our organisation. However, some of the assets we have developed over the years are outside our core competencies and the direction we are taking the business. Working alongside EverEdge, we developed a strategy that plays to our strengths in the healthcare sector along with unlocking capital by divesting the valuable assets we had developed outside of our future focus industry. EverEdge’s understanding of our business enabled it to identify OTSAW as the right acquirer for these assets and to support us in completing this joint venture.”
Ling Ting Ming, OTSAW CEO and tech visionary added “We have had a long relationship with EverEdge, as its team helped us develop a strategy to build value in our portfolio of intangible assets. When EverEdge was appointed to advise Swisslog Healthcare on the sale of TransCar, its team was able to immediately identify the synergies with our business and the strategic value we could add to these assets if we acquired them. This transaction made sense for both OTSAW and TransCar and will allow both companies to focus on driving growth and margins in our core business’ by delivering innovative solutions and great service to our customers.”
Commenting on the transaction, EverEdge Managing Director Tyler Capson said “EverEdge is proud to have advised Swisslog Healthcare on the divestment of its TransCar automated guided vehicle business to OTSAW. We had established relationships with both Swisslog Healthcare and OTSAW and it was fantastic to be able to bring these two entities together in a way that will create long-term benefits for both companies.
“Swisslog Healthcare and OTSAW are organisations that have strong R&D functions and valuable portfolios of intangible assets. When it comes to maximising the value of intangible assets, it is important to understand whether your assets are more valuable in your own hands or in someone else’s. In this instance, Swisslog Healthcare was able to divest a non-core asset to a partner that was better able to maximise the future potential and value of the asset. This transaction will allow both companies to focus their attention on building and innovating within their primary business areas.”
More information on this transaction can be found here.
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