D. Medical Industries Explained

D. Medical Industries Ltd.
Type:Public
Location City:Tirat HaCarmel
Location Country:Israel
Industry:Medical equipment
Revenue: US$ 0.39 million (2011)
Operating Income: US$ –12.34 million (2011)
Net Income: US$ –12.63 million (2011)
Subsid:Spring Health Solutions Ltd.
Spring-Set Health Solutions Ltd.
Footnotes:[1]

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 Tel Aviv Stock Exchange.

Company

D. Medical Industries develops, manufactures and markets insulin delivery devices for patients with diabetes.[2] In 2010, 70% of people with diabetes 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 the former 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.[3]

D. Medical's competitors include Medtronic, Roche, and Insulet.[4] 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.[5] A year after having obtained ISO 13485:2003 and ISO 9001:2008 certification from the Canadian Medical Devices Conformity Assessment System, in 2012 D. Medical signed an original equipment manufacturer agreement with a South Korea-based worldwide distributor for its Spring Universal Detach Detect Infusion Sets.[6] [7]

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. . 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.[9] [10] [11] [12] [13]

In August 2010 D. Medical executed an initial public offering in the United States, raising $10.5 million.[14] The company's shares were listed on the NASDAQ Capital Market until July 2012.

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.[15] [16]

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.[17] [18]

See also

External links

Notes and References

  1. Web site: DMED Income Statement. Yahoo! Finance. 15 May 2012. 2012.
  2. Web site: D Medical Industries Ltd.. Hoover's. 7 November 2011.
  3. Web site: Kilmer. Stephen. D. Medical taps ROW for growth; visibility with NASDAQ listing. BioTuesdays. 7 November 2011. 24 August 2010. https://web.archive.org/web/20120425110646/http://biotuesdays.com/2010/08/24/d-medical-taps-row-for-growth-visibility-with-nasdaq-listing/. 2012-04-25. dead.
  4. Web site: D. Medical Industries Ltd: Competition/competitors . . 7 November 2011 . 25 June 2010 . dead . https://web.archive.org/web/20120425144946/http://ipoportal.edgar-online.com/ipo/textSection.asp?cikid=829325&fnid=64285&IPO=1&sec=cm&coname=D.+MEDICAL+INDUSTRIES+LTD. . 25 April 2012 .
  5. Web site: Tenderich. Amy. ADA Conference 2011: Product Updates. DiabetesMine. 7 November 2011. 28 June 2011. https://web.archive.org/web/20111211012919/http://www.diabetesmine.com/2011/06/ada-conference-2011-product-update.html. 11 December 2011. dead.
  6. News: D Medical units win Canadian certification for diabetes devices . 14 May 2012 . . 27 April 2011 . dead . https://web.archive.org/web/20110906072641/http://www.globes.co.il/serveen/globes/docview.asp?did=1000640873&fid=1725 . 6 September 2011 .
  7. News: D Medical shares jump on OEM deal . https://archive.today/20120802201615/http://www.globes.co.il/serveen/globes/docview.asp?did=1000748572 . dead . 2 August 2012 . 14 May 2012 . . 14 May 2012 .
  8. Web site: D Medical Subsidiary Receives FDA Approval to Market its Insulin Pump. Net Resources International. medicaldevice-network.com. 7 November 2011. 3 May 2011. 7 April 2012. https://web.archive.org/web/20120407063027/http://www.medicaldevice-network.com/news/news117695.html. dead.
  9. Web site: די מדיקל אינדסטריס בע"מ: דו"ח שנתי לתקופה שהסתיימה ביום 31.12.2006 . . 7 November 2011 . Hebrew . D. Medical Industries Ltd.: Annual report for period ending 31 December 2006 . 2007 . החברה הוקמה תחת השם פאר מעליות ותעשיות (92) בע"מ, בינואר 1994 שינתה את שמה לשם רם צור תעשיות בע"מ. בינואר 2001 שינתה החברה את השם לארית מערכות בע"מ, ובינואר 2005 שינתה החברה את שמה לשמה הנוכחי. .
  10. News: Nilimed to get NIS 900,000 Chief Scientist grant . https://archive.today/20120801073124/http://www.globes.co.il/serveen/globes/docview.asp?did=1000025094 . dead . 1 August 2012 . 7 November 2011 . . 2 November 2005 .
  11. News: Shimoni. Eli. תחיית השלדים. 7 November 2011. Ynet. 15 April 2005. Hebrew. Rise of the shells. המשקיעים החדשים הזרימו כסף לקופת החברה ורכשו מידי חממת הטכניון כ-73% מחברת נילי מד שעוסקת בפיתוח עזרים רפואיים לטיפול בחולי סוכרת..
  12. News: Hard times at Aryt . https://archive.today/20120803113413/http://www.globes.co.il/serveen/globes/docview.asp?did=666712 . dead . 3 August 2012 . 7 November 2011 . . 24 February 2003 .
  13. Web site: Feldman . Batya . D-Medical files prospectus for secondary offering . . IVC Research Center . 7 November 2011 . 24 December 2006 . dead . https://web.archive.org/web/20100203050128/http://www.ivc-online.com/ivcWeeklyItem.asp?articleID=5189 . 3 February 2010 .
  14. News: D Medical Industries prices IPO below expectations . https://archive.today/20120720152502/http://www.businessweek.com/ap/financialnews/D9HDA7EO0.htm . dead . 20 July 2012 . 7 November 2011 . . 5 August 2010 . . .
  15. Web site: Haft. Ziv. Nilimedix Ltd., Sindolor Medical Ltd.. Israel Securities Authority. 7 November 2011. 6. March 2009.
  16. News: D. Medical Industries Ltd. Acquires Remaining Holdings in Nilimedix Ltd.. https://archive.today/20120913230249/http://www.reuters.com/finance/stocks/DMED.TA/key-developments/article/2053232. dead. September 13, 2012. 7 November 2011. Reuters. 25 December 2010.
  17. News: Kornfeld. Tomer. לא עוצרת: נקסט ג'ן זינקה 100% ב-3 ימי מסחר, פועלת להשתלט על אינטרקיור. 7 November 2011. Bizportal. 25 April 2010. Hebrew. Won't stop: NextGen jumped 100% in three trading days, moving to gain control of InterCure. בשלהי חודש ינואר השנה השלימה די מדיקל, שבשליטת זאב ברונפלד מני מור ואייל שרצקי, את רכישת חברת נקסט ג'ן לאחר שמזגה לתוכה את פעילות חברת הבת סינדולור אשר פיתחה מזרק ללא כאב..
  18. News: D. Medical closes sale of NextGen Biomed. 7 November 2011. Yahoo! Finance. 3 August 2011.

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