London, England , Dec. 10, 2021 (GLOBE NEWSWIRE) -- Tianrong Internet Products and Services, Inc. (OTC Pink: TIPS), a MedTech and Medical Device Investment Company, today announced that it has selected Cambridge Orthopaedic Labs Ltd (“COL”) ( https://www.wiltongroup.com/col/) as its next equity acquisition candidate. COL is a medical device company that has developed an innovative non-invasive external fixator (PolyArmour) for the treatment of broken bones, focusing initially on wrist fractures, which COL management anticipates obtaining US FDA approval as a class 1 device in the first half of 2022 ahead of a US market launch later in the year. Financial terms were not disclosed.
Investment Proposal - Cambridge Orthopaedic Labs (COL)
TIPS’ management believes that PolyArmour’s published clinical trial data demonstrates the ability of the product to deliver improved patient experience and healing outcomes than alternative invasive treatments in the market today, and to do so cost effectively for the healthcare provider, taking the treatment of fractures out of the operating theatre, and in turn offering tremendous investment return potential for TIPS’ investors. TIPS' majority shareholder, Wilton, has been working with COL throughout 2021 to promote the Company’s £3.5m fundraising round.
Tony Flanagan, Wilton CEO and Managing Partner, stated: “Wilton has been extremely impressed with Cambridge Orthopaedic Labs’ PolyArmour product, but also with the professionalism, innovation and credibility of the founders and management team, and considers COL to have both the product and team in place to deliver strong investment returns.”
The management of TIPS released the following statement, “We echo Wilton’s sentiments and believe that Cambridge is an outstanding company and will be a valuable addition to our portfolio. This is only the first of a dozen or so acquisitions, equity stake holdings and investments that TIPS has in the pipeline. We expect 2022 to be a banner year for the Company and all of our shareholders.”
About Wilton Group:
Wilton provides services to clients incorporating investments, wealth management and secured lending, pensions and professional services, with the latter including corporate finance advisory, valuations, M&A, due diligence, IPO and fundraising activities supporting clients. Wilton's network includes associates with extensive healthcare and MedTech experience in C-suite positions to be leveraged to advance TIPS' investment objectives.
Wilton’s email address in relation to this transaction is: info@tacticalnewmedicaldiversified.com
About TIPS:
TIPS vision is the establishment of a global medical investment company, with a primary focus on the MedTech and medical device sectors.
For further information please contact TIPS at info@tipsinvest.io
The TIPS Twitter account can be accessed at https://twitter.com/tipsinvest
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that, all forward-looking statements involve risks and uncertainties, including without limitation, the ability of Tianrong Internet Products and Services, Inc. to accomplish its stated plan of business. Tianrong Internet Products and Services, Inc. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward- looking statements included herein, the inclusion of such information should not be regarded as a representation by Tianrong Internet Products and Services, Inc. or any other person.
Contact
Tianrong Internet Products and Services, Inc.
info@tipsinvest.io
Attachments
- $TIPS ANNOUNCES ACQUISITION TARGET, CAMBRIDGE ORTHOPAEDIC LABS
- $TIPS ANNOUNCES ACQUISITION TARGET, CAMBRIDGE ORTHOPAEDIC LABS
