Lereko Metier, a private equity fund manager focused on mid-cap buyout and growth opportunities in Southern Africa, has exited its stake in South Africa-based medical device distributor Surgical Innovations after healthcare group Ascendis Health, newly listed on the Johannesburg Stock Exchange, acquired Surgical Innovations for a total consideration of ZAR336 million (approximately US$30.3 million). The transaction was structured through Lereko Metier Capital Growth Fund, which originally invested in the company in 2008, and received 70 percent in cash and 30 percent in Ascendis shares for the purchase.