Sources inform ''Globes'' that Wheezometer developer KarmelSonix Ltd. (ASX: KSX) is considering dual-listing on the Tel Aviv Stock Exchange (TASE). The company is also considering a Private Investment in Public Equity (PIPE) of several million dollars from Israeli and Australian investors ahead of the dual listing.
KarmelSonix develops asthma diagnostic devices based on the patient's wheezing, hacks, and coughs. The Wheezometer analyzes the sounds to provide data about the illness and severity of an attack, and recommends treatment.
Earlier this month, KarmelSonix presented its PulmoTrack technology at the American College of Physicians CHEST Exhibition. The American College of Physicians undertook to present the technology to the American Medical Association (AMA) code committee for indemnification to obtain two codes for the PulmoTrack, one for eight hours of monitoring, and the other for one-hour monitoring.
KarmelSonix general manager Prof. Noam Gavriely said, "This is an important vote of confidence by physicians in our technology."
If the AMA grants the codes, KarmelSonix will be able to charge for procedures from US insurance companies, as well as Medicare and Medicaid.
KarmelSonix rsoe 4.3% on the Australian Stock Exchange today to AU$0.05, giving a market cap of AU$23 million (about US$21 million).
Published by Globes [online], Israel business news - www.globes-online.com - on November 23, 2009
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