Cantel Medical Corp. (NYSE: CMN)) has acquired Herzliya-based JetPrep Ltd.. The company has developed a flushing device, a novel single-use irrigation and aspiration catheter to improve visualization during colonoscopy procedures.
No financial details about the deal were disclosed. JetPrep has only raised several million dollars since it was founded in 2007.
The Jet Prep Flushing Device has US Food and Drug Administration (FDA) and the European CE Mark approvals and is ready for immediate commercialization by our global endoscopy sales forces. The Jet Prep operation, which will be integrated into Cantel's Medivators Endoscopy business, will remain in Israel. Led by CEO David Nitsan, the company's R&D engineers will continue working on new product development.
Medviators Endoscopy president Don Byrne said, "This acquisition strengthens our position as a leading provider of novel products and solutions for GI endoscopy. The Jet Prep product is an important addition to our growing portfolio of endoscopy products focused on infection control and improving patient safety and outcomes."
Cantel Medical's EVP and COO Jorgen Hansen said, "We see the Jet Prep product line as exactly the type of novel and highly differentiated product that Medivators should be introducing to the market. We know there is strong demand from physicians for a unique solution to improving visualization and have high expectations for its success in the GI endoscopy market."
Published by Globes [online], Israel business news - www.globes-online.com - on November 6, 2013
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