The company is developing a minimally invasive solution for hernia surgical procedures.
Meytav Technological Enterprises Innovation Center Ltd. portfolio company Hernia Solutions Ltd. has obtained a $1.1 million investment from an investor group. The investment was made at a company value of $2.75 million.
Hernia Solutions, founded in July 2007, is developing innovative, minimally invasive solutions for the treatments of ventral and inguinal hernia, the largest scale operation preformed by general surgeons. The company's mesh placement enables a posterior approach via miniature incisions while reducing costs, complexity and morbidities of current procedures. The company notes that over three million hernia procedures are carried out annually in the West, at a cost of $5 billion.
Meytav's stake in Hernia Solutions will fall from 28.2% to 16.3% after the investment. Meytav is a subsidiary of Biomedix Incubator Ltd. (TASE:BMDX).
Published by Globes [online], Israel business news - www.globes-online.com - on May 25, 2008
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