Endochoice plans $150m Nasdaq IPO


The US gastrointestinal endoscopy company merged with Israeli company Peer Medical in 2013 and investors include Israel's Accelmed.

Endochoice Inc. plans to raise $100-150 million on Nasdaq in 2015 at a company value of $500 million although a prospectus has yet to be filed. US company Endochoice merged with Israeli endoscopic start-up Peer Medical in 2013.

Endochoice, President of International Activities Yoram Ashery told "Globes" back in January that a Wall Street IPO in 2015 is realistic.

Since Endochoice and Peer Medical merged in 2013 the company has raised $43 million for investors including Sequoia Capital and Mori Arkin and Dr. Uri Geiger's Accelmed. Endochoice develops gastrointestinal endoscopy while Peer Medical has developed endoscopes that give a broader picture than the products currently on the market. The merged company has annual revenue of $60 million. The Israeli product gives a picture covering 330 degrees compared to 170 degrees in existing products.

Published by Globes [online], Israel business news - www.globes-online.com - on October 28, 2014

© Copyright of Globes Publisher Itonut (1983) Ltd. 2014

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