US medical device company Covidien has acquired Israeli respiratory systems maker superDimension for approximately $300 million, winning a bidding war to purchase the company for its bronchial tube endoscopes which reduce the invasiveness of surgery.
The deal, which is expected to close in the second quarter of 2012, will be one of Israel’s largest ever medical technology sales.
The move will also avail Covidien of Herzliya-based superDimension’s iLogic System, giving doctors minimally invasive access to lesions deep inside lungs and lymph nodes. SuperDimension was founded in 1995 to turn technology used in planes and toys into endoscopes for bronchial tubes.
Today, superDimension systems are often used in the diagnosis of lung cancer. The device includes a sensor-tipped catheter which communicates with three magnets on the patient’s chest and can take a biopsy and mark a spot for precision radiation, according to a report by Globes.
Minimally invasive surgeries not only reduce the number of complications and infections, but reduce patient hospital stays and significantly decrease the cost of procedures.
SuperDimension earnings estimates for 2012 range from $30 – $50 million annually.