Published On: Wed, Oct 29th, 2014

Medical Device Maker Endochoice Eyeing $150 Million IPO


Endochoice, a company which produces all manner of medical devices, is planning a NASDAQ IPO for 2015 which it hopes will bring in $100 to $150 Million. The firm merged with Israel’s endoscopic company Peer Medical in 2013.

If all goes according to plan, Endochoice will be left with a valuation of as much as $600 million.

After it merged with Peer medical, Sequoia Capital led a $43 million round of financing in the new company which included investments from Mori Arkin and Dr. Uri Geiger’s Accelmed.

Endochoice has not filed a prospectus yet for the IPO and so there is no word as to how many shares will be offered and at what price and terms. Based in Atlanta GA, EndoChoice is a medtech company focused on the manufacturing and commercialization of platform technologies including devices, diagnostics, infection control and endoscopic imaging for specialists treating a wide range of gastrointestinal (GI) diseases.

The company leverages its direct sales organization to serve more than 2, 000 customers in the United States and works with 34 distribution partners world-wide. The Company was founded in 2008 and has developed a proprietary product portfolio, which includes the Full Spectrum Endoscopy System Fuse. The Fuse System is comprised of colonoscopes and gastroscopes with multiple imagers so doctors can see more of the GI tract for diagnosis and treatment. The Fuse colonoscope provides a field of view of 330 degrees versus 170 degrees from traditional endoscopes.

In a recent clinical study Fuse found 76% more polyps than traditional colonoscopes. 2014 marked the fifth consecutive year EndoChoice was recognized as one of the fastest growing companies in the U.S. by Inc. Magazine.

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