Simplivia Healthcare Ltd. announced today the first acquisition as part of its accelerated growth strategy
The company has acquired 70% of Novamed, a diagnostic company that develops and manufactures a range of innovative diagnostic platforms and test kits to meet recent years evolving trends of homecare
Jan 05, 2021, 07:00 ET
KIRYAT SHMONA, Israel, Jan. 5, 2021 /PRNewswire/ -- Simplivia is a leading global medical device developer and manufacturer of Closed System Transfer Devices (CSTDs). CSTDs are used to protect pharmacists, nurses, and other medical professionals in hospital settings from exposure to hazardous drugs, most often oncology drugs. They also ensure drug sterility to protect patients. Simplivia operates in a fast-growing market which is expected to reach $1B USD by 2024.
Novamed is an Israeli developer and manufacturer of diagnostic platforms. The company employs 100 people including researchers and engineers at its state-of-the-art manufacturing facility. The company has a strong legacy product line sold in Europe and Israel and played a vital role in supplying COVID-19 test kits during the pandemic. Novamed recently launched its new innovative patent-protected product portfolio aimed to advance home-diagnostics and value-based medicine.
"Recent advancements in oncology, as well as COVID-19 pandemic, have advanced the transition from the over-crowded and costly hospital environment to home-care. This is further propelled by new diagnostic tools that play a vital role in accelerating the shift of health systems worldwide from treatment to prevention and towards value-based healthcare," said Oded Grinstein, Simplivia's CEO. "The addition of Novamed allows Simplivia to establish a diagnostic division that will facilitate early detection of multiple conditions. This ranges from viral and bacterial infection to early detection of heart attacks. We are delighted that Dr. Emil Katz, Novamed's founder and CEO, will continue to lead the development of Novamed's innovative products following the acquisition."
Commenting on the acquisition, Dr. Emil Katz, Novamed's founder, and CEO said, "We are very excited about joining forces with Simplivia. This will allow us to further develop Novamed's diagnostic portfolio and expand our global reach through Simplivia's marketing channels and established expertise in the medical device field."
Ori Yehudai, Simplivia's active chair of the board, commented: "In the past two years since its acquisition from Teva, we established a strong management team, and demonstrated impressive profitable growth. Simplivia intends to continue its rapid internal growth combined with strategic acquisitions of MedTech companies, develop new technologies and expand its collaboration with research institutes, as part of the accelerated growth strategy."
About Simplivia
Simplivia Healthcare Ltd. (www.simplivia.com) is dedicated to developing and manufacturing high-quality medical solutions for drug delivery to ensure the safety of healthcare professionals. Simplivia's Tevadaptor® and Chemfort™ products are approved by the world's leading regulatory bodies. In the US, Simplivia's products are distributed by B. Braun under the brand OnGuard®. The company's manufacturing facility in Kiryat Shmona, Israel, meets the most rigorous standards, including FDA and CE.
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SOURCE Simplivia Healthcare Ltd.
