The Fund’s purpose is to invest in medical technology companies that give patients living in low-resource settings improved access to affordable, appropriate, and sustainable medical technologies. TEAMFund’s mission strongly aligns with Smith+Nephew’s purpose, to use technology to take the physical and mental limits off living for all.
Yousuf Mazhar, Managing Partner of TEAMFund, said: “TEAMFund is an unprecedented industry supported initiative that seeks to address the growing healthcare burden of non-communicable diseases in geographies where access to affordable medical technologies is limited. We are grateful to Smith+Nephew and the many other organisations who have provided their financial support and industry expertise.”
TEAMFund’s initial geographic focus is India and Sub-Saharan Africa and expects to invest in eight to 10 portfolio companies, with a 10-year horizon. To date, the Fund has made investments in ophthalmology, diagnostics and cardiovascular companies.
Smith+Nephew is a portfolio medical technology business that exists to restore people’s bodies and their self-belief by using technology to take the limits off living. The company calls this purpose "Life Unlimited." Its 16,000-plus employees deliver this mission every day, making a difference to patients’ lives through the excellence of our product portfolio, and the invention and application of new technologies across three global franchises of Orthopaedics, Advanced Wound Management and Sports Medicine & ENT. Founded in Hull, U.K., in 1856, Smith+Nephew now operates in more than 100 countries, and generated annual sales of $4.9 billion in 2018. Smith+Nephew is a constituent of the FTSE100.