Teleflex Inc. (NYSE: TFX) has acquired Trendlines International Ltd. portfolio company InnoLap Surgical Ltd., which is developing a platform for scarless laparoscopic procedures. The size of the deal was not disclosed.
InnoLap CEO Yoni Epstein and Dr. Igor Igov founded the company in August 2012 at Trendlines' Misgav Venture Accelerator
"We identified Teleflex as a potential partner very early in the process and understood their interest and strategic activity in the field of microlaparoscopy," said Epstein, adding that InnoLap's success was very fast. "It was clear there was a huge clinical, aesthetic, and financial need for such a device."
Trendlines cited a Frost & Sullivan report, which estimates that four million laparoscopic procedures are performed annually in the US. It added that the US laparoscopic resection device market was expected to reach $775 million in sales in 2014.
Teleflex acquired Israeli microlaparoscopy developer Eon Surgical in July for several tens of millions of dollars.
Published by Globes [online], Israel business news - www.globes-online.com - on October 1, 2013
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