from the September 2015 issue

Kyma Medical Technologies sold for $35m

In January 2015, the μ Cor System Kyma received the EU CE Mark approval for monitoring thoracic fluid content, ECG, heart rate, respiration rate, activity, and posture.

With offices in California and Kfar Saba, Kyma was founded in 2008 by CTO & GM Uriel Weinstein, former CEO Assaf Bernstein and VP Medical Affairs Dr. Michal Shohat. of ZOLL's LifeVest division.

ZOLL LifeVest president Jason T. whiting said, "The acquisition of Kyma Medical will allow ZOLL to broaden its product offerings with additional technologies designed to improve outcomes for heart failure patients with fluid management problems, with the goal of reducing hospitalizations. With the acquisition, Kyma's technology will be able to better reach global markets through ZOLL's existing network. Additionally, we expect to leverage Kyma's strong R&D capabilities as well as the broader research talent available in Israel."

Kyma president & CEO Murali Srivathsa said, "ZOLL provides Kyma with an increased infrastructure of clinical and commercial resources that will enable our technology to reach a greater number of clinicians and patients. This agreement gives Kyma the opportunity to become part of a company with a long and sustained commitment to improving patient outcomes."

Kyma chairman Guy Katsav said, "We are very proud of Kyma's technological achievements and are extremely pleased that ZOLL has decided to acquire Kyma. The strategic and cultural fit between ZOLL and Kyma represents the best opportunity to bring Kyma's innovative technologies to patients worldwide. The company began by merging with a Wall Street stock exchange shell, which acquired the patents from Hadasit - the Technology Transfer Company of Hadassah Medical Organization . The company marked time on the OTC exchange for a few years. Following the breakthrough by companies like Pluristem Therapeutics Ltd. (Nasdaq:PSTI).

Reprinted from the Israel High-Tech & Investment Report September 2015

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