ETView to be sold for $16 million
19 June, 2016
The Israeli med-tech startup developing Airway management and visualization systems, is on the verge of being sold to an international company
The Israeli startup has developed Airway management and visualization systems
ETView is about to close an ownership change deal. The Israeli med-tech company has developed Airway management and visualization systems. Today it published a statement saing it could soon be acquired for as much as $16 million. According to ETView’s announcement, both parties are eager to complete the deal as soon as possible. Iin January 2015 it also said it is looking for a potential buyer.
The company’s shareholders will reap some $12.6 million. $3.4 million will be deducted to cover debts, liabilities and expenses of ETView’s transaction costs as well as employee’s bonuses. If the deal is completed, the ETView will be delisted from the Tel-Aviv stock exchange. ETView major shareholder is venture capital fund Trendline, which led ETView’s 2015 funding round in Singapore. Trendline holds approximately 26% of ETView’s shares, and will recieve $3.3 million if the deal is completed.
Disposable equipment for artificial respiration
ETview develops medical equipment for respiration procedures requiring lug isolation. The company’s leading product is the Vivalsight – a sterile, single use, single lumen airway tube with an integrated high-resolution imaging camera. VivaSight-SL permits continuous real-time images of tube position, bronchial blocker placement, and more. VivaSight-SL provides total airway management control during every phase of thoracic surgical procedures requiring lung isolation. Vivasight is a disposable product – unlike the bronchoscope, the current mainstream equipment in use.
In the five years following the completion of the product, revenues show constant growth, while operational and total losses are consecutively diminishing. In Q1 2016 the company has reported revenues totaling about $1 million, compared to $430,000 in Q1 2015, a 57% increase. The company’s net loss totaled $460,000 in 2016. The company’s stock has gained more than 40% since January 2016, and it is trader according to a market cap of $11.8 million.