10.03.13
Teleflex Inc. has acquired Innolap Surgical Ltd., a portfolio company of Trendlines International Ltd. Israeli company Innolap is developing a technology platform for scarless laparoscopic procedures. Its device is touted to reduce incision diameter, nearly eliminating the need for stitches during laparoscopy.
The value of the deal was not disclosed.
“We are very pleased about this transaction with such a global leader as Teleflex,” said Innolap CEO Yoni Epstein, who co-founded the company with Igor Igov, M.D., in 2012. “We identified Teleflex as a potential partner very early in the process and understood their interest and strategic activity in the field of microlaparoscopy. It was clear there was a huge clinical, aesthetic, and financial need for such a device.”
An estimated 4 million laparoscopic procedures are performed annually in the United States. According to the Frost & Sullivan report titled “U.S. Minimally Invasive and Laparoscopic Surgical Products,” the U.S. laparoscopic resection device market is expected to reach sales of $775 million in 2014.
Based in Limerick, Pa., Teleflex makes critical care and surgical devices.
The value of the deal was not disclosed.
“We are very pleased about this transaction with such a global leader as Teleflex,” said Innolap CEO Yoni Epstein, who co-founded the company with Igor Igov, M.D., in 2012. “We identified Teleflex as a potential partner very early in the process and understood their interest and strategic activity in the field of microlaparoscopy. It was clear there was a huge clinical, aesthetic, and financial need for such a device.”
An estimated 4 million laparoscopic procedures are performed annually in the United States. According to the Frost & Sullivan report titled “U.S. Minimally Invasive and Laparoscopic Surgical Products,” the U.S. laparoscopic resection device market is expected to reach sales of $775 million in 2014.
Based in Limerick, Pa., Teleflex makes critical care and surgical devices.