by Trevor Williams | January 14, 2013
EndoChoice Inc., an Alpharetta-based provider of endoscopes for gastrointestinal medicine with customers in 34 countries, has raised $43 million to acquire Israel's Peer Medical Ltd.
The combined firm will keep the EndoChoice name. It will be based in Alpharetta with research and development in Caesarea, Israel, Peer Medical's home base. The Israeli firm has a proprietary video system and endoscopes that give doctors a wider field of view when performing endoscopy and colonoscopy procedures.
"Conventional scopes are comparable to driving a car without side windows - can you imagine all the things you are missing?" said Mark Gilreath, founder and CEO of EndoChoice, in a statement. "This technology will save lives."
The deal comes four days after EndoChoice announced that it would acquire RMS Endoskopie-Technik, an endoscope manufacturer based in Elmshorn, Germany, near Hamburg.
The American Israel Chamber of Commerce Southeast Region said in its email newsletter that Mr. Gilreath became involved with the Israeli medical-device industry while working as president of the North American division of Given Imaging, an Israeli firm that makes pill cameras.
Sequoia Capital led the $43 million raise.
Visit www.endochoice.com for more information.