The Xenia venture capital fund will post a capital gain of NIS 90 million after acquires by Olympus

The Xenia venture capital fund will post a capital gain of NIS 90 million, after the Japanese optics giant Olympus exercised an option to acquire full ownership in the company held by Medite at a value of $ 240 million. Olympus invested $ 20 million in Meditate in November 2018 and was given an option to acquire full ownership.
Meditate, founded by entrepreneur and CEO Ido Klimnik, develops products for the treatment of urethral and prostate diseases. TIND, Meditate's flagship product, is designed to treat patients with enlarged benign prostate. TIND is a minimally invasive temporary device designed for patients with an active lifestyle. Medication involves side effects or is ineffective, and who are not interested in the conventional surgical treatment that involves prolonged anesthesia, hospitalization for several days and carrying a catheter.
The device removes prostate tissue from the urethra and thus allows for relief of symptoms and improved urine flow. Furthermore, the device is optimally adapted to the anatomical structure in the prostate area in a way that prevents damage to the sperm ducts and sexual function, which is a common injury after conventional surgical treatments. The innovative device is implanted under local anesthesia through the urethra, in a minimally invasive procedure that lasts 10-5 minutes, and then left in the patient's body for several days - at the end, the device is found in the clinic under local anesthesia within a few minutes.
Meditate cites studies showing that 115 million men over the age of 50 suffer from benign prostate growth, and are being treated with medication or surgery. To the best of Meditate's knowledge, the cost of all U.S. treatments for the prostate problem reaches $ 10 billion a year, of which about $ 2 billion in the most common TURP surgery (300,000 surgeries). In addition to surgery, there are many methods of treating the prostate including RF, Microwave Thermotherapy and Laser.
Apart from these treatments, there is also therapeutic treatment of Alpha Blockers. The market for invasive treatments is growing at 12% per year, although there is a clear trend of switching from invasive treatments to treatments where surgical intervention is minimal, due to the severe side effects and long duration of hospitalization. Meditate estimates that the treatment method it has developed could replace 20% of invasive surgical treatments.