D. Medical Industries
| Type | Public |
|---|---|
| Traded as | NASDAQ: DMED TASE: DMED |
| Industry | Medical equipment |
| Founded | July 22, 1992 |
| Headquarters | Tirat HaCarmel, Israel |
| Key people | Efri Argaman (CEO) |
| Revenue |  US$ 0.36 million (2010) |
| Operating income |  US$ –9.99 million (2010) |
| Net income | US$ –12.96 million (2010) |
| Subsidiaries | Spring-Set Health Solutions Ltd. |
| Website | dmedicalindustries.com |
| References: | |
D. Medical Industries is a publicly traded holding company, headquartered in Israel, that develops and markets insulin pumps and infusion sets through its subsidiary, Spring-Set Health Solutions. Shares of the company are traded on the NASDAQ Capital Market and on the Tel Aviv Stock Exchange.
Company
D. Medical Industries develops, manufactures and markets insulin delivery devices for patients suffering from diabetes. In 2010, 70% of diabetes sufferers lived in low- and middle-income countries, with the International Diabetes Federation projecting a 54% increase in the worldwide incidence of diabetes by 2030, particularly outside North America and Europe. According to CEO Efraim (Efri) Argaman, D. Medical's products are ideally suited for the developing world on account of their lower production costs: unlike the industry standard motor-and-gear train, D. Medical's technology is spring-based.
D. Medical's competitors include Medtronic, Roche, and Insulet. The company's Spring subsidiary is developing a semi-disposable hybrid patch pump that can be attached to the body or worn as a tubed pump.
Subsidiaries
Products
History
The company with which D. Medical was reverse-merged in 2004 was founded in 1992 as Peer Elevators and Industries (92) Ltd. (Hebrew: פאר מעליות ותעשיות (92) בע"מ). In 1994 Peer Elevators changed its name to Ram Tzur (or Ram Zur) Ltd. and went public on the Tel Aviv Stock Exchange. In 2001 Ram Tzur acquired the assets of Aryt Systems, a developer and manufacturer of advanced military equipment, and changed its name to Aryt Systems Ltd. In 2004 Aryt Systems, which had by that time become a shell company on the TASE Maintenance List, was acquired by Yehoshua Hershkovitz and sold to a group of investors comprising Zeev Bronfeld, Gal Erez, Eyal Sheratzky, and Meni Mor. They changed the name of the company to D. Medical Industries and used it to acquire a 73% stake in Nilimed, a Technion Entrepreneurial Incubator company.
In August 2010 D. Medical executed an initial public offering in the United States, raising $10.5 million. The company's shares are listed on the Nasdaq Capital Market.
Mergers and acquisitions
In 2006 D. Medical acquired 72.99% of Nilimedix Ltd. for $1.5 million. Over time it increased its stake in the company until as of 2010 it held 100% of Nilimedix's issued and outstanding share capital.
In 2007 D. Medical acquired 50.01% of Sindolor Medical Ltd. for $800,000. It reverse-merged the company with the shell company Sela Group and renamed it NextGen Biomed Ltd. In August 2011 D. Medical sold its stake in NextGen for $1.6 million.
See also
References
External links
Retrieved from : http://en.wikipedia.org/w/index.php?title=D._Medical_Industries&oldid=460443300
