• Non-dilutive growth financing of up to US$50 million, with a synthetic royalty feature, and availability linked to achievement of certain sales milestones
• Proceeds from the financing will fund Human Investments Ltd.’s expansion of Motiva® devices in Asia
• Transaction highlights R-Bridge’s commitment to supporting access to innovative, high-quality, and safe healthcare solutions

SINGAPORE, Dec. 12, 2024 /PRNewswire/ — R-Bridge Healthcare Fund (“R-Bridge”), an affiliate of CBC Group, Asia’s largest healthcare-dedicated asset management firm, today announced the closing of a non-dilutive growth financing facility of up to US$50 million for Human Investments Ltd.

Human Investments Ltd., through its subsidiaries Motiva Korea and Motiva China, is the exclusive distribution partner in Korea and China for Establishment Labs Holdings Inc.’s innovative femtech solutions in breast health, breast aesthetics and breast reconstruction. The transaction provides Human Investments Ltd. access to non-dilutive growth financing of up to US$50 million, with a synthetic royalty feature, and availability tied to achieving certain sales milestones. The proceeds will support Motiva Korea’s continued growth and market-leading position in the Korean medical aesthetics and reconstruction market. In addition, it will fund the market expansion of Motiva China, following Establishment Labs’ National Medical Products Administration (NMPA) approval in November 2023 for the sale of Motiva® devices in China.

Dr. Michael Keyoung, Senior Managing Director & Head of Private Credit and Royalty at CBC Group, said “R-Bridge is pleased to partner with Human Investments Ltd. in supporting the Asian commercial launch of its innovative and differentiated solutions. We are impressed by the success of Human Investments Ltd. in establishing market leadership in the global benchmark Korean medical aesthetic and reconstruction market. This financing demonstrates our commitment to supporting promising healthcare companies in expanding access to innovative, high-quality and safe solutions aimed at improving health and wellness.”

John Lim, Founder and CEO of Human Investments Ltd., said “Within three years of its launch in Korea, we established Motiva® as the preferred and market-leading brand for augmentation and reconstructive mammaplasty in the Korean women’s health market, and we anticipate replicating that success across Asia. Surgeons and consumers are highly attuned to the latest innovations in science and technology, and we are excited about the opportunities this financing will provide Human Investments Ltd. to position Motiva® as a truly innovative and differentiated option in the Asian medical aesthetic and reconstruction market.”

About R-Bridge

R-Bridge Healthcare Fund is an affiliate of CBC Group, Asia’s largest healthcare-dedicated asset management firm with an AUM of $9 billion, headquartered in Singapore with offices in U.S., Asia, and Europe. With a diversified, multi-product strategy, CBC Group focuses on platform-building, buyout, private credit and royalties, and real estate, across the healthcare space, including pharmaceutical, biotech, medical technology, and healthcare services.

R-Bridge was founded in 2019 to provide alternative, non-dilutive financing for healthcare companies backed by royalties, revenue interests and other cash flow generated by sales of healthcare products and services in Asia as well as globally, with the intent to generate attractive and non-correlated returns for investors. R-Bridge raised its inaugural fund in 2020 and is currently investing from its successor fund, RBF II.

For further information, please visit www.cbridgecap.com
Connect with us on LinkedIn (CBC Group).

About Human Investments Ltd.

Headquartered in the United Arab Emirates, Human Investments Ltd. is the exclusive distribution partner in Korea and China for Establishment Labs Holdings Inc., a global medical technology company dedicated to improving women’s health and wellness through the power of science, engineering, and technology. Through its subsidiaries Motiva Korea and Motiva China, Human Investments Ltd. currently markets Motiva® devices in the Korea and China markets. Motiva® Devices, known for their advanced 3D negative imprinting technology, are recognized for their superior safety and natural look and feel. The Motiva Flora® tissue expander is used to improve outcomes in breast reconstruction following breast cancer and it is the only regulatory-approved expander in the world with an integrated port using radio-frequency technology that is MRI conditional. Since first becoming commercially available in 2010, nearly four million Motiva® devices have been delivered to plastic and reconstructive surgeons in over 85 countries in which they are available. The Motiva® device recently received U.S. FDA approval, representing the first new breast implant PMA approved by the U.S. FDA since 2013. Following regulatory approval by the National Medical Products Administration (NMPA) in November 2023, Motiva® devices were launched in February 2024 in China, leveraging its position as a market leader in Korea.

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CHICAGO, Dec. 12, 2024 /PRNewswire/ — May River Capital, a Chicago-based lower middle-market private equity firm, and its portfolio company, RLE Technologies, today announced the acquisition of NDSL Group Ltd., manufacturer of Cellwatch and leading battery monitoring and management solutions for data centers, utilities, and telecom markets. The two companies will merge as a new platform company, Parameter.

Parameter represents the combined strengths of RLE Technologies and NDSL, with more than 70 years of collective experience providing process industry and facilities management professionals with real-time insights into mission critical operations. Parameter’s advanced solutions sense, detect, monitor, analyze, and predict the quality, condition, and volume of liquids, gases, energy, and materials in their environments. Parameter serves end markets including data centers, utilities, critical infrastructure, and more.

Based in Raleigh-Durham, North Carolina, NDSL brings a 30-year history as a trusted supplier of the industry-leading Cellwatch line of products and services. NDSL’s comprehensive monitoring solutions enable customers to most effectively manage their critical battery investments. Cellwatch products prevent outages, reduce costs, meet regulatory requirements, and offer the strongest durability and reliability in the industry.

Based in Fort Collins, Colorado, RLE Technologies brings a 40-year history as provider of facility environment monitoring, fluid leak detection, and airflow management products, helping facility operations professionals protect against failures that could lead to disruptions in mission critical environments.

Through a holistic approach to monitoring and management, Parameter’s comprehensive portfolio of products protects the world’s most valuable assets and makes the future of vital operations more predictable and manageable.

Dan Barlow, May River Capital Partner, noted: “We are excited to unite the deep teams and resources of NDSL and RLE under the Parameter banner. This merger strengthens our ability to best serve the critical infrastructure monitoring and detection needs of our customers.”

“We are thrilled to be joining with RLE Technologies and rebranding as Parameter,” said Earl Philmon, CEO of NDSL. “NDSL has been a trailblazer in battery asset management and monitoring, helping to prevent unplanned outages with innovative solutions. Our Cellwatch line complements RLE’s products. The benefits of this union are significant, and I look forward to the growth opportunities ahead,” Philmon added.

“With the support of May River, the strongest teams and the global leading technology companies in system monitoring for essential industries are brought together in Parameter. I am excited to partner with Earl and our team of experienced professionals to launch Parameter and to accelerate the advancement of future technologies and capabilities,” said Mike Blazes, CEO of RLE Technologies and Parameter.

Mesirow Financial and Laytons LLP served as financial advisor and legal counsel to NDSL, respectively. Livingstone Partners LLC and Paul Hastings LLP served as financial advisor and legal counsel to May River Capital, respectively. Tree Line Capital Partners provided debt financing in support of the acquisition.

About May River Capital

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May River Capital is a Chicago-based private equity firm focused on investing in lower middle-market, industrial growth companies. May River Capital invests in high-quality industrial growth businesses, including precision manufacturing, engineered products and instrumentation, specialized industrial services, and value-added industrial distribution services. For more information, please visit www.mayrivercapital.com.

About Parameter

Parameter is a new May River Capital platform company formed by the merger of RLE Technologies and NDSL. Parameter empowers process and facility management industries with real-time insights into mission critical operations. Parameter’s advanced solutions sense, detect, monitor, analyze, and predict the quality, condition, and volume of liquids, gases, energy, and materials in their environments. By transforming complex data inputs into actionable intelligence, Parameter makes the future of vital operations more predictable and manageable. Parameter has operations in Fort Collins, Colorado; Raleigh-Durham, North Carolina; Milton Keynes, United Kingdom; and Shanghai, China. To learn more, please visit www.parameter-tech.com.

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Recognition for the successful delivery of an end-to-end digital revamp of customer onboarding to transform client experience and efficiency

CHENNAI, India, Dec. 12, 2024 /PRNewswire/ — Expleo, the global engineering, technology, and consulting service provider, and Mashreq, a leading financial institution in the UAE and MENA region, have jointly won the Best Quality Assurance and Quality Engineering execution award at the IBSi Global FinTech Innovation Awards 2024.

The IBSi Global FinTech Innovation Awards, which took place at Taj Lands End, Mumbai, on Friday, 22nd November 2024, recognised innovators and disruptors driving growth, sustainability, and financial inclusion through groundbreaking digital solutions in the financial services ecosystem. From core banking enhancements to the innovative use of AI, the sixth edition saw over 400 nominations across 30 categories, each highlighting transformation programmes reshaping fintech’s future.

Building a faster, secure and customer-centric corporate onboarding solution

With a legacy spanning over five decades, Mashreq partnered with Expleo for a complete digital overhaul of its corporate client onboarding and compliance processes. Leveraging Expleo’s quality assurance and engineering expertise, the project transformed traditional manual workflows into a streamlined, fully digital experience, cutting manual testing efforts and significantly improving operational efficiency.

Supported by Expleo’s quality assurance team, the solution integrated advanced automation capabilities, including document processing and OCR for automatic data capture. Mashreq now benefits from a faster, more secure, frictionless client onboarding system that’s fully compliant with Central Bank standards and scalable for future growth.

Expleo has supported clients across the Middle East for over two decades, leading digital transformation initiatives that help financial institutions deliver innovative, efficient, and budget-conscious solutions. Expleo’s expertise ensured that Mashreq’s onboarding transformation was seamless and timely, aligning with the bank’s ambitious growth and service goals.

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Phani Tangirala, MD & CEO of Expleo, India, said, “We are honoured to share this recognition with Mashreq as their trusted partner in digital assurance. This collaboration highlights the powerful outcomes possible when quality engineering meets digital innovation. We look forward to building on this success, expanding our partnership, and supporting Mashreq in achieving new milestones.” 

Sajeev Kumar, Executive Vice President – Head of Corporate Banking Technology, Mashreq, said, “The award from IBSi reflects our commitment to client-first innovation and technological excellence. Partnering with Expleo was a natural choice given their QA & QE expertise and has enabled us to accelerate our digital onboarding process with a secure, scalable solution.”

Manish Mukhija, Senior Vice President, Head – Wholesale Digital Studio Technology, Mashreq, said, “We are very proud of the state-of-the art QA capability developed in collaboration with Expleo. Best QA practices is pivotal to our Digital strategy. The vision & direction established nearly 4 years ago has indeed been fruitful and producing great results. Testing cycles have been optimized using Automation first strategy at each application layer with cutting edge QA Tool stack”.

Nikhil Gokhale, Head – Research & Digital Properties, IBS Intelligence, praised the remarkable quality engineering execution led by Expleo for Mashreq’s digital transformation. “Expleo’s robust automation and performance testing strategies reduced manual testing effort, accelerated time to market, and ensured a seamless customer experience across Mashreq’s Unified Portal Application. With advanced tools and early defect identification, this project has set a benchmark in quality assurance, ensuring efficiency and reliability,” he remarked. Nikhil congratulated Expleo & Mashreq on their well-deserved win in the ‘Best Quality Assurance/Quality Engineering Execution: Most Impactful Project’ category.

Expleo and Mashreq are committed to expanding their partnership and exploring new digital initiatives across Mashreq operations.

To learn more about Expleo’s digital assurance capabilities, visit our AI and Digital Transformation page. 

Media contact
Bharath Kumar Rangarajan
Head of Marketing & Communications
Expleo Solutions Limited
[email protected] 

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