EndoChoice Merges With Israel-Based Peer Medical
Posted on January 9, 2013 @ 10:15 am
Alpharetta, Ga.-based EndoChoice Inc., a gastrointestinal (GI) endoscopy technology developer, is merging with Israeli counterpart Peer Medical Ltd. Together, the endoscopy technology developers will be known as EndoChoice, and will remain headquartered in Alpharetta. Peer’s offices in Israel will become the new firm’s research and development (R&D) center.
Peer Medical has developed a proprietary video system and the Full Spectrum Endoscope that reportedly expands the field of view during endoscopy procedures and colonoscopies, helping gastroenterologists detect more cancerous polyps and abnormal lesions. The Full Spectrum Endoscope provides up to a 330 degree view, the company claims, while conventional endoscopes have a 170 degree field of view.
“We were attracted to EndoChoice because they share our passion for service and providing GI physicians with new technology that improves patient care,” said Peer Medical Founder and CEO Avi Levy. “We look forward to building on EndoChoice’s platform and established customer base and working together to commercialize this technology.”
Gilreath said he was impressed with the Israeli R&D team and predicted that members’ capabilities and insights will fuel the company’s future growth. To help finance that growth, EndoChoice investors—led by Sequoia Capital—recently raised $43 million.
The Full Spectrum Endoscope is not yet available for sale but it has received CE Mark approval and 510(k) clearance from the U.S. Food and Drug Administration.
Please visit our sister sites:
The material on this site may not be reproduced, distributed, transmitted, or otherwise used, except with the prior written permission of Rodman Media.