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| μ-Cor System for monitoring congestive heart failure--Courtesy of Kyma Medical |
Zoll Medical amplified its focus on cardiac arrest patients with the acquisition of Israel's Kyma Medical Technologies for $35 million, plus milestone payments based on sales and the incorporation of Kyma technology into future products. The company makes a wearable remote patient monitoring device for congestive heart failure.
Kyma's CE-marked µ-Cor System adheres to the torso and deploys wireless radio-frequency technology to monitor fluid levels in the lungs, and collects data on heart rate, respiration rate, activity, and posture, according to a release. The company says that fluid buildup in the lungs is one of the most serious consequences of congestive heart failure and can be treated via medication if detected early.
To that end, the vital sign data is designed to be analyzed with the help of proprietary algorithm at a remote monitoring center. Doctors will be notified if the device and associated algorithm detects exacerbation of the condition, according to a release.
Although the device earned a CE mark in January, Kyma has not begun generating revenues, according to an SEC filing filed by Kyma shareholder Elron Electronics, which participated in a $10 million financing round of the company in 2013. The holding company previously disclosed the deal's preliminary announcement in a June SEC filing, but did not name Kyma's suitor.
"The acquisition of Kyma Medical will allow Zoll to broaden its product offerings with additional technologies designed to improve outcomes for heart failure patients with fluid management problems, with the goal of reducing hospitalizations," said Jason Whiting, President of Zoll's LifeVest unit, which makes wearable defibrillators for patients at risk of sudden cardiac arrest. "With the acquisition, Kyma's technology will be able to better reach global markets through Zoll's existing network. Additionally, we expect to leverage Kyma's strong R&D capabilities as well as the broader research talent available in Israel."
Kyma's facilities and employees in Israel and the U.S. will be integrated into Zoll's LifeVest unit.
In January Zoll acquired Advanced Circulatory Systems, the maker of the FDA-approved ResQCPR System for performing CPR on cardiac arrest patients, for an undisclosed amount.
Japanese conglomerate Asahi Kasei Group owns Zoll. Pentax Medical is also owned by a Japanese conglomerate known as Hoya. It just announced a strategic investment in U.K. electrosurgery startup Creo Medical.
- read the release
- here's the SEC filing