Stimatix GI Discloses B. Braun Medical SAS as Acquirer of its Assets
Stimatix GI Discloses B. Braun Medical SAS as Acquirer of its Assets
MISGAV, Israel, April 16, 2018 /PRNewswire/ -- Stimatix GI Ltd., a leading developer of low-profile innovative solutions for colostomy management, disclosed today B. Braun Medical SAS as the acquirer of its assets.
In November 2014, Stimatix GI sold its stoma care assets to a subsidiary company of the B. Braun Group, B. Braun Medical SAS, which hosts the stoma care Center of Excellence. B. Braun, one of the world's leading providers and manufacturers of healthcare solutions, is currently in the process of finalizing a high-volume manufacturing line for the production of the products. The product is expected to be introduced to market at mid-2018.
Under the agreement, B. Braun acquired Stimatix GI's assets and agreed to sell Stimatix GI's ostomy products worldwide. The acquisition transaction included a cash payment at closing, milestone payments, and royalties from future sales of Stimatix GI's products.
Colostomy, an artificial opening in the abdomen, is the result of a life preserving surgical procedure in which the colon is cut and brought through the abdominal wall. One of the most significant implications of creating a colostomy is the fact that the anus and rectum are bypassed and no longer function. Consequently, all of the physiological, behavioral and aesthetical characteristics of healthy anus and rectum are lost. These include colonic absorption, voluntary bowel evacuation, releasing of flatus, hygiene, sensory notification on a need to evacuate, involuntary evacuation in case of excessive pressure, mechanical protection, and imperceptibility.
Stimatix GI developed an Artificial Ostomy Sphincter (AOS) technology which is designed to address the needs of individuals with colostomies, by holistically restoring the various physiological, behavioral and aesthetical functions of healthy anus and rectum.
"The AOS devices we have developed has been engineered and designed to directly address the limitations of existing ostomy appliances," stated Mr. David Hanuka, CEO of Stimatix GI and inventor of the AOS technology. "Through its unique ability to mimic anorectal functionality, the device offers a comprehensive solution, that allows colostomates to regain control of their bodily functions, and brings their rhythm of daily activities closer than ever to the natural rhythm. It offers completely safe and discrete 24/7 usage, thus providing an experience that is much closer to that of natural physiology."
Stimatix GI Ltd.
T +972-72-260-7084
F +972-72-260-7284
Email: info@stimatix-gi.com
View original content with multimedia:http://www.prnewswire.com/news-releases/stimatix-gi-discloses-b-braun-medical-sas-as-acquirer-of-its-assets-300630143.html
SOURCE Stimatix GI Ltd
