SHS Gesellschaft für Beteiligungsmanagement mbH
27. February 2020 - SHS News

SHS invests in endoscope manufacturer Blazejewski MEDITECH GmbH

SHS Gesellschaft fuer Beteiligungsmanagement mbH, the Tuebingen-based investor in medical technology and life sciences, is investing in Baden-Wuerttemberg-based endoscope specialist Blazejewski MEDI-TECH GmbH. The medium-sized medicaltechnology firm expects the minority share held by SHS to deliver sector expertise and seeks to strategically advance its internationalization.

Minimally invasive surgery (MIS) ranks among the worldwide standards for surgical or diagnostic procedures. Based on a technology that is constantly evolving, this so-called “keyhole therapy” would be inconceivable if not for the high-quality endoscopic equipment on which it relies. The worldwide market volume is around USD 9 billion and enjoys growth of approximately 9 percent annually.

Blazejewski MEDI-TECH GmbH is one of the leading manufacturers of medical endoscopes and is known for its highly reputable rigid and semirigid 2D endoscopes. The company was established in 1991 by Reinhold Blazejewski. Its 70 employees develop and produce 2D and 3D endoscopes in Sexau near Freiburg in Baden-Wuerttemberg, Germany. Approval for BMTvision®-type 3D endoscopes is planned for 2020. OEM customers include world market leaders in the field of medical technology.

International growth planned

After careful consideration, Reinhold Blazejewski decided to partner with SHS, the experienced, Tuebingen-based investor in medical technology. SHS is acquiring a 24.9-percent minority share and will contribute its industry expertise and decades of international experience to the partnership.

“I am satisfied that in SHS I have found an investor that knows our industry through its successful investment projects and adds technical expertise in medical technology. With the help of SHS, we will strengthen sales, drive internationalization and create marketable new endoscopy
products,” says Reinhold Blazejewski.

Manfred Ulmer-Weber of SHS is convinced: “Anyone who wants to be internationally successful in medical technology today needs excellent products, a clear strategy and sufficient capital. Blazejewski MEDI-TECH GmbH is very strong technologically and covers the entire value chain in-house: these are good prerequisites for international growth. We also realized right away that the chemistry is right between us. The concept we developed together fits. We are on the right track.” The innovative power of mid-cap companies The innovative power of Blazejewski can be seen, for instance, in the continued development of 3D endoscopy, a growth field. According to experts, sooner or later 3D technology will prevail in the operating room. The three-dimensional, plastic images of the BMTvision® endoscope system by Blazejewski make navigation easier and can assist surgeons in their demanding work. “For the stereoscopic display, images are projected onto the sensors from slightly offset viewpoints and processed for the 3D monitor. Wearing polarized 3D glasses, the surgeon gets a much better impression of the operating site,” explains Dr. Volkmar Freystein, CTO (Head of Development) at Blazejewski MEDI-TECH. “We are on the verge of approval of the new 3D system and are already
benefiting from SHS’s expertise with the regulatory requirements.”

“We are pleased that a successful mid-cap medical technology firm such as Reinhold Blazejewski has chosen SHS as a strategic investor. With our decades of experience and our understanding of technology, we are convinced that we are the right partner for growth financing, regulatory
challenges and also for long-term succession arrangements,” says Dr. Bernhard Schirmers, founder, Partner and Managing Director of SHS.

About Blazejewski MEDI-TECH GmbH

Blazejewski MEDI-TECH GmbH, based in Sexau, Baden-Wuerttemberg, was founded in 1991 by Reinhold Blazejewski. Its 70 employees, one quarter of them in R&D, develop, produce and distribute medical endoscopes that are used in operating rooms all over the world. The product range includes rigid and semirigid 2D endoscopes (including with chipon-the-tip technology) that deliver images of very good quality. The firm also manufactures, 3D endoscopes that offer excellent spatial representation and, with an outer diameter of less than 2.5 millimetres, are unique worldwide. The manufacture of 3D endoscopes is another unique selling point for the company. 3D optics by Blazejewski are also deployed beyond the field of medical technology – in robotics.

About SHS Gesellschaft fuer Beteiligungsmanagement mbH

SHS Gesellschaft fuer Beteiligungsmanagement is based in Tuebingen, Germany, and invests in medical technology and life science companies with a focus on expansion financing, changes in shareholder structures and successor situations. SHS holds minority as well as majority interests. The company was founded in 1993 and has since gained extensive experience as an industry investor, which supports the growth of its portfolio companies through a network of partnerships regarding the introduction of new products, regulatory issues or entering new markets. The SHS fund’s German and international investors include professional pension insurers, retirement funds, strategic investors, funds of funds, family offices, entrepreneurs and the SHS management team. The AIFM-registered company invests up to €30 million in equity capital and volumes exceeding this amount are implemented with a network of co-investors. SHS is currently investing from its fifth fund. The fund has received capital commitments of more than €130 million. Further information:

Press contact

Regine Hujer
SHS Gesellschaft fuer Beteiligungsmanagement mbH
Bismarckstrasse 12
72072 Tuebingen
Phone +49 7071 9196-100