AngioDynamics announced the acquisition of Israeli Eximo Medical for $ 66 million

Posted on Oct 4, 2019 by Ifi Reporter

AngioDynamics announced the acquisition of Israeli company Eximo Medical for $ 66 million. Eximo is a medical device company that has developed a system for treating blood vessel obstruction. The buyer, AngioDynamics, is a US medical device company traded on the NASDAQ at a cost of $ 663 million.
To date, the sold company has raised only $ 2 million from Israeli funds.
Its activities were mainly funded by under-funded funding from the Innovation Authority and strategic partners, so the exit is small but very profitable for the funds.
Aximo's product is FDA-approved and has symbolic revenue in Europe and the US, but the company has avoided building an expensive sales lineup and already in 2016 announced its intention to execute a strategic marketing deal or be sold. Joel Sabra: "We stood at the intersection, whether to take a larger investment and set up a sales network, or to sell to a company that has a marketing and sales infrastructure. Experience shows that Israeli companies are able to reach marketing and sales almost exclusively with a strategic partner, which is already market-based. More to sell at this point. 


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