The Trendlines Group has announced the acquisition of portfolio company Flowsense Medical Ltd. by global healthcare company Baxter International (NYSE: BAX). FlowSense's URINFO fluid monitoring system provides accurate, real-time, and continuous monitoring of urine output. The company was founded by Trendlines in 2009 and taken public on the Tel Aviv Stock Exchange the following year.
Prior to founding FlowSense, Trendlines acquired the assets upon which the company was established and created a new company to develop and market the company's products. The company has since sold its products in Europe, the US, Israel, and China. FlowSense generated interest from several potential strategic partners prior to the acquisition by Baxter for $9.5 million, including liabilities.
Trendlines chairman and CEO and FlowSense chairman D. Todd Dollinger said, "The FlowSense acquisition by Baxter adds to other recent successes for Trendlines, including the sale of PolyTouch to Covidien and the IPO of ETView. Since the establishment of The Trendlines Group in 2007, more than $160 million has been invested in our portfolio companies."
Published by Globes [online], Israel business news - www.globes-online.com - on September 10, 2013
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