Healthcare co D Medical raises NIS 1.8m in stock issue

D Medical has four portfolio companies developing insulin pumps and drug delivery systems.

Diabetes treatment and drug delivery holding company D Medical Industries Ltd. (TASE:DMDC) raised NIS 1.8 million in an issue of 2.8 million shares at NIS 0.65 per share. The minimum price for the offering set in the shelf prospectus was NIS 0.64 per share. The offering was oversubscribed 1.04-fold.

D Medical's share fell 3.6% in early trading today to NIS 0.67, more than wiping out yesterday's gain of 3.4%.

D Medical, owned by Zeev Bronfeld, Gal Erez, Eyal Sheratzky, and Meni Mor, has four portfolio companies:

    Nilimedix Ltd. is developing a subcutaneous insulin pump for diabetics.
  • G Sense Ltd. is developing minimally-invasive continuous glucose monitoring devices.
  • Medx-Set Ltd. is developing a new infusion for insulin pumps.
  • Sindolor Medical Ltd. is developing safety needles based on its proprietary EZject technology.

    Published by Globes [online], Israel business news - - on May 14, 2009

    © Copyright of Globes Publisher Itonut (1983) Ltd. 2009

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