Adavium buys 2 firms in Brazil, $21m in funding, adds ex-GE HC exec Goulart as COO

Brazilian medical device and diagnostic company Adavium Medical, formerly known as Advance Medical, said today it picked up Alka Tecnologia and Hemogram Industria e Comercio, raised $21m in a Series C round of financing and added ex-GE Healthcare CEO Claudia Goulart as its COO.

Adavium said the newly acquired companies are 2 of the “largest clinical diagnostic companies in Brazil,” and that the acquisition will make Adavium the largest medical equipment and diagnostic company in Brazil

“We bring commercial sophistication and scale to 1 of the largest and most complex healthcare markets in the world. We have spent the past several years evaluating and acquiring the best Brazilian companies that, together with our team and capabilities, would create the undisputed commercial and manufacturing leader. We are now the partner of choice for international companies with premium products. We also develop and manufacture proprietary products that bring the benefits of high-end technologies to the very large, but often ignored, value segment of the Brazilian market that requires affordable products. As a result, a number of our product lines lead in market share,” Adavium Medical CEO Dr. Fred Aslan said in a press release.

Adavium said it raised $21 million in a Series C financing round, with funds slated to finance its 2 recent acquisitions as well as others, and to “strengthen strategic capabilities throughout the company.”

The company also announced its addition of ex-GE Healthcare Latin America CEO and Adavium board member Goulart as the company’s COO and diagnostics biz president.

“As a board member, I have witnessed Adavium Medical’s growth from a start-up to the Brazilian leader in medical equipment and diagnostics and I am thrilled to assume a full-time leadership role. We are building an integrated product development and commercial platform able to bring the right portfolio to the largest number of customers in Brazil in a highly professional, ethical and FCPA-compliant manner,” Goulart said in prepared remarks.

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