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$350m exit for Israel’s SuperDimension
Posted By ISRAEL21c Staff On March 15, 2012 @ 7:11 am In | No Comments
SuperDimension, the Israeli medical device company that develops minimally-invasive pulmonology devices, has been acquired for $350 million by US medical device giant Covidien, according to a report in Calcalist.
SuperDimension’s mission, as written on its website, is to be the world’s leader in the diagnosis and treatment of distal lung disease. The company was founded in Tel Aviv by Pinhas Gilboa, and has offices in the US and Germany. The company has more than 100 employees worldwide.
The report says that Covidien, a $12 billion global healthcare products company, is expected to sign the deal for the buyout by the end of the week.
SuperDimension says its product line – devices that enable the diagnosis and potentially the treatment of distal lung disease — addresses a total available market of more than 8 million potential patients in the United States alone. The company also notes that it has conducted successful clinical trials in the biopsy of peripheral lung lesions in Europe and Israel since 2003. High success rates were achieved consistently with patients for whom traditional bronchoscopy had either failed or had not even been attempted.
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