Apposite Capital disposed of its portfolio firm ZONARE Medical in a US $101.7 million agreement with Mindray Medical International Limited.

Over the past 10 years, London-based ZONARE has built a name in high-end ultrasound products that feature super high imaging diagnostic solutions. Apposite has been investing in ZONARE since 2009.

David Porter, Managing Partner at Apposite, said that they are very pleased with the terms of the transaction as it represented the third profitable exit from their secondary portfolio.

"Mindray provides an ideal platform for ZONARE to continue to develop innovative, high quality imaging solutions for the benefit of patients and health practitioners," he said.

With the sale, it is now well positioned to further expand internationally, he added.

Apposite Capital is a private equity investment firm with an established brand dedicated to the health care industry. It has extensive stakes in R&D, pharmaceutical, healthcare services and medical diagnostics and devices.