ETView Medical in advanced talks to be sold for $16m

Todd Dollinger Photo Rafi Kotz
Todd Dollinger Photo Rafi Kotz

The Israeli company has developed respiratory tubes with digital cameras attached.

ETView Medical Ltd. (TASE: ETVW), which is developing an artificial respiration device, has announced that the negotiations for its acquisition at a $16 million price tag ($12.6 million in cash and the rest in debt) have reached advanced stages. The company's current market cap is NIS 47.4 million, meaning that the acquisition price is the same as the market price, although it is not final.

The deal involves acquisition of all of ETView's shares; if it goes through, the company will be delisted from the TASE. ETView was first listed in 2010, after being merged into a stock exchange shell. At its peak, the company had a market cap of NIS 61 million, but its market cap has been lower than the proposed acquisition price during most of the time its share was traded on the TASE.

Most of the company's business involves the development, production, and marketing of a respiratory physiology device. ETView's products consist of a single lumen airway tube, at the bottom of which is installed a miniature digital camera and a double lumen airway tube with a video camera and a bronchial blocker. Cumulative sales of the company's products totaled NIS 27 million as of the end of the first quarter.

From 2013 until the quarter ending on March 31, 2016, more than 67,000 units of the company's products suitable for medical procedures were sold in Europe, the US, South America, the Far East, Australia, and Israel. The company graduated a technology incubator controlled by Trendlines Ltd. (SI:42T) . The main shareholders in ETView are Richard Zitelman (18.8%), Trendlines (15.5%), the Trendlines Misgav incubator (10%), Migdal Insurance and Financial Holdings Ltd. (TASE: MGDL) (10%), and Daniel Magen (7.7%). The chairman of ETView is Todd Dollinger.

Published by Globes [online], Israel business news - www.globes-online.com - on June 19, 2016

© Copyright of Globes Publisher Itonut (1983) Ltd. 2016

Todd Dollinger Photo Rafi Kotz
Todd Dollinger Photo Rafi Kotz
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