Merhavia: An investee company will sell in Europe – the capital market

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Merhavia Holdings
+ 10.8%

Base:88.9

opening:92.3

High:100

low:92.3

change:197,444

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Jumps about 11% in trading after announcing that the holding company (6%) Cardiacsense has received CE approval for the marketing and sale in Europe of the medical watch it has developed to detect arrhythmias.

Cardiaxense in Israel recently expanded exclusive distribution agreements for its product to the tune of approximately $ 28 million, mainly in Switzerland, Spain, Portugal and Andorra. After the expansion, the total commitments for marketing the product in the next four years will reach about $ 100 million. Cardiaxense will now be able to implement the agreements and enter 15 markets. It should be noted that the company will be able to sell the product not only in Europe, but also in other markets that accept the European standard. Cardiaxense is working in parallel to obtain FDA approval in the US and expects this to happen in the second half of the year.

The medical watches that Cardiaxens is developing include the ability to detect arrhythmias, including atrial fibrillation, which is one of the main causes of stroke. Cardiaxense recently completed an investment round with the participation of Merhavia and a number of additional investors in the amount of up to $ 2 million at a value of about $ 70 million before cash.

“Cardiaxense has a unique and groundbreaking technology that gives it a real competitive advantage in monitoring a wide range of cardiac indicators, in a way that may detect early-stage stroke cases,” he said today. Rani Lifshitz, Chairman of the Merhavia Group. “The system developed by the company has an impact on a large share of the expenses of the health systems in the world and hence the great potential we attribute to the company and its products.”

“Cardiaxence is the first and only one in the world to receive CE approval for continuous monitoring at the single pulse level and detection of arrhythmias by a medical watch,” he added. Eldad Shemesh, co-founder and CEO of Cardiaxense. “Our watch meets an increasing need for accurate monitoring and measurement of medical metrics remotely wherever the patient is, allowing the attending physician to monitor each of his patients.”