Malin acquires 38% stake in 3D4Medical for $16.4 million

Irish-based life sciences company Malin has acquired a 38 per cent shareholding in 3D4Medical for a consideration of $16.4 million.

As part of the deal, Malin also has an option to increase its shareholding to 50 per cent.

Malin will appoint three directors to the board of 3D4Medical, including former head of Google Ireland John Herlihy.

Malin chief executive Adrian Howd said 3D4Medical offers Malin a unique asset at the intersection of the technology and healthcare sectors.

“We see significant opportunity for growth… The mobile healthcare sector is clearly part of the future and we are pleased to add such a quality asset to our overall life sciences focus,” he said.

Dublin-based 3D4Medical was founded in 2004 by John Moore and Niall Johnston. The company's apps, including its flagship app "Essential Anatomy", have downloaded more than 9 million times.

In the financial year ended 31 December 2014, 3D4Medical recorded Ebitda of $700,000 on revenues of $4.1 million.