Mendor raises € 6,5 million growth financing

7/7/2014
Mendor, a diabetes technology company, announced has completed a new series of growth financing for further global expansion totaling € 6,5 million.

The financing came from Luxembourg based IPF Partners. Mendor is a fast growing diabetes technology company, committed to the design, development and commercialization of next generation diabetes care products. Mendor’s net sales in 2013 was €4,3 million.

Mendor’s vision is a future where diabetes care is integrated, individual and outcome driven.
Mendor has also received funding from Finnish Funding Agency for Innovation Tekes.

IPF Partners is a alternative financing provider focused on the European healthcare sector. IPF I, the first fund managed by IPF, invests directly in emerging, commercial-stage European pharma/biotech, medtech and diagnostics companies.

The company was founded in 2011 by a seasoned multi-disciplinary team combining over 50 years of finance and investment and over 30 years of healthcare experience. IPF has developed a unique business model using the team's specialist sector knowledge to provide bespoke, long-term financing solutions. Following its first closing in October 2013, the fund has €80 million of assets under management.

Josi Tikkanen

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