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GP Week : Issue 233
Jean Boulle Medtech Ltd, a Jean Boulle Group medical technology company and founding investor of Tendyne Holdings, Inc, is pleased to announce that Abbott Laboratories has closed its acquisition of Tendyne. Abbott thereby acquires the remaining shares of Tendyne that it does not already own for US$250 million plus potential future payments tied to regulatory milestones. This acquisition culminates a relationship that began when Jean Boulle Medtech welcomed Abbott as an early strategic investor in Tendyne. Jean Boulle Medtech worked with Tendyne's most recent investor, Apple Tree Partners, in helping to complete the transaction. Tendyne has developed a heart valve specifically designed to address the complex mitral anatomy of functional, degenerative and mixed etiology mitral regurgitation – a disorder in which the mitral valve on the left side of the heart does not close properly. Left untreated, mitral regurgitation can lead to heart failure and death. Many millions of people, in the United States alone, will benefit from mitral valve replacement. The Tendyne mitral valve is literally placed inside a beating heart via a transcatheter and does not require open-heart surgery. There is therefore no need to stop the heart beating, as has been the case up till now. A catheter enters the bottom of the heart through a small tube inserted in a small incision in the patient’s chest. The physician uses the tube to deploy the valve and positions it so that it rests over the heart's existing mitral valve. It is then anchored securely in place by an adjustable tether. The valve is fully retrievable, totally repositionable and is sewn onto a Nitinol frame. Nitinol is a superelastic nickel and titanium "shape memory alloy" whose flexibility eases implantation, but regains its original shape when it returns to a patient’s normal body temperature. The Tendyne valve’s nickel/titanium alloy composition is derived from a corporate history of making major discoveries which Tendyne has in common with three other Jean Boulle Group Companies. The first founded Diamond Fields Resources, Inc, and discovered one of the world's largest and richest nickel deposits in Voisey's Bay, Canada. The second founded Titanium Resources Group Ltd and restarted and rediscovered one the world's largest and richest titanium mines in Sierra Leone. The third, World Titanium Resources discovered and is developing one of the world’s largest and highest- grade titanium deposits, in South Western Madagascar. The Tendyne valve is currently undergoing clinical trials in the United States, Great Britain and Australia as part of a multi- centre global feasibility study on the safety and performance of the Tendyne valve in patients with symptomatic mitral regurgitation of degenerative or functional etiology, some of whose medical conditions would otherwise make them inoperable. Initial patient results have been positive with most, if not all, patients having no mitral valve regurgitation after being discharged from hospital within a few days of surgery. The Tendyne valve has been successfully implanted in patients at such internationally renowned medical institutions as the Royal Brompton Hospital in London, England; St Vincent's Hospital in Sydney, Australia; and The Minneapolis Heart Center at Abbott Northwestern Hospital in Minneapolis, Minnesota. Other prestigious medical institutions in the expanding universe of Tendyne clinical trials include Baylor Heart and Vascular Center, Dallas, Texas; Cleveland Clinic Foundation, Cleveland, Ohio; St. Francis Hospital, Roslyn, New York; and Oslo University Hospital, Oslo, Norway. Members of Tendyne's Medical Advisory team include : Mark Gillinov MD, The Cleveland Clinic Heart Center; Paul Grayburn MD, Baylor Jack and Jane Hamilton Heart and Vascular Hospital; Lucian Lozonschi MD, Associate Professor of Cardiac Surgery, University of Wisconsin School of Medicine and Public Health; Georg Lutter MD, University of Kiel, Eduardo de Marchena MD, Professor of Medicine and Surgery and Associate Dean for International Medicine, University of Miami Health System; Mark Reisman MD, Clinical Professor of Medicine, University of Washington; Murat Tuzcu MD, The Cleveland Clinic; and Horst Sievert MD. Jean Boulle Medtech is a subsidiary of the medical division of the Jean Boulle Group of Companies. This division invests in medical technology and includes companies such as Jean Boulle Medtech (Ocudyne) Ltd., which is the founding investor in a project exploring the cause of, and a cure for, aged-related macular degeneration, a leading cause of blindness around the world. MORE INFORMATION: Jean Boulle Group Ms Audrey Richardson firstname.lastname@example.org WEB: jeanboullegroup.com or Wayne Malouf, in Dallas, Texas Ph: +1 214 691 9000 email@example.com Jean Boulle Group – Us$250m + Abbott Laboratories Acquisition of Tendyne Holdings FIA President Jean Todt has been criticised by the media following comments made over the Brazilian Grand Prix weekend. Following the devastating attacks in Paris over the weekend, which left France and the western world reeling, Todt spoke to the media and implied that, while tragic, what happened on our roads was far more important. "Do you realise that the number of people killed in road accidents is by far bigger than the number of people who died in Paris," he told Canal+. The insensitive remarks didn't end there. Rather than acknowledge the incident and pay it the respect it deser ved, a memorial was wrapped up with what was already planned. “We had already planned to do something at the occasion of the day of celebrations for road victims," he said. "Every day on our streets, 3,500 people die. Every day there are 30 times more people who die than in the Paris assassinations. "We had decided a minute of silence and of course we can't ignore what happened in Paris. We will thus have a moment of attention for what happened in Paris." Following Todt's comments a statement issued by the FIA reaffirmed its President's statements. "Because of the horrific terrorist attacks of 13 November in Paris, the ceremony to pay tribute to the casualties of road traffic accidents scheduled for the Brazilian Grand Prix within the framework of the World Day of Remembrance for Road Traffic Victims has been modified," it read. "The drivers' parade lap will see all competitors wearing a black armband as a sign of mourning and tribute to the victims of the Paris tragedy and as a gesture of solidarity with their families and loved ones. "In addition, a French flag decorated with a black ribbon will be carried on the truck used during the drivers' parade. The same flag will be displayed on the world television feed, as will 13.11.2015, the date of the tragedy. "Finally, a backdrop prepared for the World Day of Remembrance for Road Traffic Victims will be displayed behind the drivers on the grid at 13h45 (local time) for a minute of silence as a tribute to those who have lost their lives or have been injured in road traffic accidents." Coming at a time when the western world has been shaken once again, and with nations across the globe showing their solidarity in support of France by shining red white and blue on their national monuments, Todt's ambivalence saw the sport fail to join the chorus. Instead it trivialised an incident which has left a nation, Todt's home country and that of the FIA, to declare three days of national mourning. the gaFFer's biggest gaFF 11 GPWEEK.com // 11 GPWEEK.com // PARTNERS: F1 >>> news