ETView mulls TASE IPO

The medical device firm hopes to raise $15 million.

Sources inform Globes that ETView is currently considering a TASE IPO, with the aim of raising $15 million. The offering would value the firm at $30 million. While the firm has not finalized its planned offering process, it has already started to put together the prospectus.

ETView, a graduate of the Misgav Technology Center, has developed an intubation tube with a miniature video camera at the tip, which greatly enhances the success of the complicated procedure. Additionally, the device can keep the camera in place for an extended period after the procedure, potentially reducing the need for x-rays.

Several months ago, the firm received FDA approval to market its product, and has already signed distribution deals in Turkey, Italy, and Spain. Each of the deals can be worth up to several hundred thousand Euros in annual sales.

In Europe and the US, over one hundred thousand intubations are performed daily. Over half of the procedures are conducted in operating rooms. According to ETView, between 3% and 5% of these operating room intubations are considered “difficult”” and in these cases, a camera would ease the process. The rate of successful procedures is considerably lower in procedures performed outside of operating rooms, and about one-quarter fail in the first attempt. Using ETViews’s product in these cases is expected to allow medical staff to precisely identify the location of breathing tubes and foster first-time success.

Published by Globes [online], Israel business news - www.globes.co.il - on October 8, 2007

© Copyright of Globes Publisher Itonut (1983) Ltd. 2007

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