ZOLL Medical Corp. has acquired Israeli company Kyma Medical Technologies Ltd., a developer of technologies to measure early signs of congestive heart failure.
The US medical device company ZOLL will pay $35 million plus milestone payments on future sales and products.
Kyma was founded in 2008 by former CEO Assaf Bernstein, CTO & GM Uriel Weinstein and VP Medical Affairs Dr. Michal Shohat.
Kyma has developed a remote patient monitoring system for fluid management in a variety of patients including those suffering from heart failure. The µ-Cor System uses radio frequency-based technology to monitor the level of fluid in the lungs and collects data on heart rate, respiration rate, activity, and posture, all of which are analyzed using proprietary algorithms to determine patient-specific vital signs trends. Once a potential deterioration in the patient’s condition is identified, a notification is sent to the patient’s medical team.
In January Kyma’s System received the EU CE Mark approval for monitoring thoracic fluid content, ECG, heart rate, respiration rate, activity, and posture.
ZOLL said it plans to maintain Kyma’s facilities and workforce in Israel and California as a part 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.
“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.”
Elron Electronic Industries Ltd., owns 26% of Kyma.