Eitan Medical’s Sorrel
Israeli MedTech firm Eitan Medical has sold its wearable injectors Sorrel subsidiary to LTS, a German pharmaceutical technology company. The companies described the deal as a strategic acquisition for both organizations, as it will allow LTS to further enhance and expand its innovative technology. While the purchase price was not disclosed, Globes reported that it could be in the area of $100 million.
The wearable injectors business, boast Eitan Medical and LTS, provides an innovative solution for the subcutaneous delivery of large molecule drugs, and it will be interesting to see how LTS develops this technology in the future.
Eitan Medical can now focus on its core infusion therapy portfolio, while LTS can leverage its expertise and resources to further develop the wearable injectors business. This is a win-win for both organizations, and it will ultimately benefit patients who need these innovative drug delivery systems.
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With the acquisition, Sorrel will become part of the worldwide network of LTS and operate as a new LTS division named LTS Device Technologies. Dr Andrei Yosef has been appointed as President and General Manager of LTS Device Technologies.
Here are some of the benefits of this acquisition for both organizations:
For Eitan Medical, this sale will allow the company to focus on its core infusion therapy portfolio and streamline its operations. This will allow Eitan Medical to concentrate its resources and further strengthen its position as a leader in advanced and connected infusion therapy solutions.
For LTS, this acquisition will give the company access to Eitan Medical’s innovative wearable injectors technology. LTS can use this technology to further enhance and expand its drug delivery portfolio, which will ultimately benefit patients who need these innovative drug delivery systems.
“The decision to divest the wearable injectors business aligns with Eitan Medical’s strategic focus on its core infusion therapy portfolio, streamlining its operations, concentrating resources, and further strengthening its position as a leader in advanced and connected infusion therapy solutions,” said Shaul Eitan, incoming CEO of Eitan Medical. “This strategic move will enable us to further enhance our product offerings, accelerate innovation, and deliver exceptional value to healthcare professionals and patients. We are excited to launch our connected infusion solutions over the coming months which aim to innovate and redefine infusion care as we know it today. In April we launched our first connected ambulatory infusion pump, the Avoset Infusion Platform, that will transform the way patients receive treatment in post-acute care, and more connected solutions are set to follow soon.”
