Virtus Medical’s $83 Million Round Funding


Orrick has advised Samena Capital and Cenova Capital on their US$83 million investment in Virtus Medical Holdings, a new premium healthcare platform in Hong Kong.

Samena Capital, a principal investment group focusing on the Subcontinent, Asia, the Middle East and North Africa (collectively, the “SAMENA” region) and Cenova Capital, a leading fund for healthcare and life sciences investments in China, are the private equity sponsors for the formation and launch of Virtus Medical, which merged the practices of more than 20 highly reputable Hong Kong medical practitioners in different specialties. Virtus plans to combine high-end private specialist services with state-of-the-art treatment facilities and services including physiotherapy, wellness, rehabilitation, and a day surgery centre.

Samena Capital is a private equity firm specializing in early venture, mid venture, emerging growth, growth capital, private placement, management buyouts, turnaround, PIPE, consolidations, and special situation investments like bridge funding or ‘last mile’ equity in mid-market companies. The firm, led by Shirish Saraf, Ramiz Hasan and Simon Wong, is based in Dubai.

Cenova Ventures is a venture capital firm. The company, led by J Melissa Zhang, Frank Feng and Stella Kwek focuses on life sciences and health care investment in China, including pharmaceuticals, medical technology, specialized healthcare services, precision medicine, e-health and modern Chinese herbal medicine.

The Orrick team advising on this transaction was led by Hong Kong-based M&A and private equity partner Mark Lehmkuhler (Picture). The Orrick team worked closely with the in-house legal team at Samena Capital, led by Dr. Markus A. Federle, Senior Managing Director and General Counsel of Samena Capital.

Involved fees earner: Mark Lehmkuhler – Orrick;

Law Firms: Orrick;

Clients: Samena Capital; Cenova Ventures;

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Author: Michael Patrini