Sources inform "Globes" that MedImpulse (formerly BioControl Medical) has sold its activity in treatment of incontinence to AMS - American Medical Systems (Nasdaq: AMMD). The price was $50 million: $25 million in cash, and $25 million according to achievement of milestones.
MedImpulse develops devices that enable patients to control muscles and nerves through the use of stimulators. The company operates in two main sectors: devices for the urinary bladder, now sold to AMS, and cardiac devices, which MedImpulse will continue developing.
Peregrine Ventures partners Eyal and Boaz Lifchitz and entrepreneur Yossi Gross founded MedImpulse in 1999. The main investors in the company are Pitango Venture Capital, Vitalife Life Sciences Ventures, and BioMedical Innovations Management Ltd.
According to IVC Online, other investors in MedImpulse are Eucalyptus Ventures, Madison Technology Ventures, HBM Bioventures, and New Medical Technology (NMT).
AMS, which specializes in medical devices used in urology, has a market cap of $1.44 billion.
Published by Globes [online] - www.globes.co.il - on January 18, 2006