Equashield Headquarters (company pic)
Equashield, an Israeli medtech company that develops, manufactures and markets devices to make drugs safer in hospitals by protecting healthcare workers from exposure to hazardous drugs and preventing microbial contamination, has raised $300 million in investment from Nordic Capital for a 25% stake in the company. This left Equashield with a $1.3 billion valuation.
This comes as no surprise to anyone who has followed Israel Startup Nation over the years. Its firms are known for their medtech breakthroughs. This is probably because of all of the expert medical scientists in the country. In the last few months alone, companies like Cytoreason, an Israeli medtech startup, raised $20 million for developing a computational model of the human body. The company collects proprietary data from pharma companies and uses it to simulate human diseases – tissue by tissue, cell by cell. And Olive Diagnostics raised funds for its KG, the world’s first artificial intelligence (AI)-based optical device capable of early detection of diseases at home or in the clinic. Basically, you will soon be able to do your own stool and urine tests and more from the comfort of your own home.
And Israeli universities like the Hebrew University and the Weizmann Institute are at the forefront of medical research with new breakthroughs being made on a regular basis in every area from news cancer treatments to Covid research.
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Founded by CEO Eric Shem-Tov in 2008, Equashield is a privately held medical device company with over 400 employees providing a Closed System Transfer Device (CSTD) for the safe handling of hazardous drugs. Dedicated to providing a simple and elegant design that is also unprecedented in safety and ease-of-use, Equashield has committed itself to protecting healthcare workers from the risks associated with exposure to hazardous drugs and vapors.
Nordic Capital has over 30 years of experience accelerating the growth of innovative Healthcare and Technology companies across Europe and North America. Nordic Capital said that it will help Equashield further accelerate its growth initiatives in close partnership with the founders and management.
“We are excited to partner with Nordic Capital. The cultural alignment between our two firms was a key driver behind our decision to invite Nordic Capital to join as a significant shareholder and support our continued growth. We also share an excitement about our pipeline of innovative compounding technologies, including our novel automated compounding system that utilizes machine learning to optimize the drug compounding process and further improves the safety and efficiency of handling hazardous drugs. Equashield is ideally positioned for robust growth, and together we will fulfill our commitment to make global healthcare delivery safer for healthcare professionals and patients alike,” said Eric Shem-Tov, CEO & Founder, Equashield.
