The Israeli technology company Involv Biomedical, which develops advanced solutions for innovative and safer treatment of heart valve disease, is sold to the American medical device giant Edwards Lifesciences, in exchange for 300 million dollars.
The Israeli company was acquired by Edwards Lifesciences, one of the most important and leading players in the world in the field of medical devices for the heart, specializing in finding innovative solutions for patients with heart diseases.
Involv Biomedical develops advanced solutions for innovative and safer treatment of heart valve disease in a minimally invasive manner.
Edwards is one of the most important and leading players in the world in the field of cardiac medical devices. The purchase deal is an unprecedented expression of confidence by a giant American company in Israeli technology, which will now reach millions of patients around the world, save many lives and improve cardiac medicine on a global level.
Involv is led by CEO Eyal Bar-Or and Prof. Ehud Raanani, the company’s founder and chief scientist. The company, which grew and operates within the heart center at Sheba Medical Center in Tel Hashomer, was established in 2018 by the hospital based on an invention by Prof. Raanana, The Director of the Heart Center at Shia, and Dr. Boris Orlov, Director of the Mitral Valve Insufficiency Service, are both heart surgeons. In recent years, the company has developed the technology in close cooperation between its engineers and the medical team that follows the project closely.
Many heart patients suffer from insufficiency and leakage of the mitral valve (Mitral regurgitation), which is the most common valve disease. Invalve has developed a system for transplanting and replacing the diseased mitral valve through catheterization, a minimally invasive process, instead of the complex process of open heart surgery, as is customary today. About three years ago, Invalev completed the development of the system, and after receiving the required approvals from the American FDA, it began implantations as part of initial clinical trials. So far, more than 40 total transplants have been performed, most of them in leading hospitals in the US.
The company employs about 50 people, all in Israel. Upon completion of the deal, Involv will be integrated into the TMTT (Transcatheter Mitral and Tricuspid Therapies) division of Edwards.
“Mitral valve diseases are diverse and complex, and therefore we know that a diverse collection of ways is needed to treat these patients,” said Davin Tsopra, senior vice president and division head at Edwards.
“We believe that Invalve’s technology, together with the extensive knowledge and experience we have in the mitral field, will lead to the development of a TMVR (Transcatheter Mitral Valve Replacement) system, which will allow the expansion of the patient population that can be treated.”
Prof. Ehud Ra’anani said: “The transplant recipients who underwent the valve transplant using the innovative approach recover very quickly, and the improvement in their condition, including the heart function parameters, continues over time. In light of this, our innovative technology has an excellent chance of treating and saving a very large number of patients suffering from a medical problem It’s hard.”
He added: “The company’s success is related, among other things, to the special model that includes the development of a medical device in a company that is established and works within the heart center in Sheba, and is proof of the power of the close, day-to-day and direct connection between medical and technological staff members, which yields very fast and high-quality development cycles I am proud that this important technology is breaking through from blue-white development precisely in these difficult days.”
Prof. Yitzhak Kreis, Director of the Sheba Medical Center: “The health system is an engine for economic growth for the Israeli economy. Involv’s exit joins other acquisitions of companies from Sheba that have been purchased in recent months by international biomed giants, which time and again express confidence in the innovation that comes out of Sheba. These achievements are made possible thanks to ARC – Sheba’s unique innovation platform, which encourages the development of breakthrough technologies through the combination of technological entrepreneurship and extensive clinical knowledge and experience, at the patient’s bedside. Soon we will see more and more transactions of this type, the fruits of which return to the public health system, strengthening and developing it. This is a real revolution that turns the health system, which for years had to squeeze state budgets, into a factor that generates significant income for the Israeli economy.”
Eyal Bar-Or, CEO of Involv: “The purchase of the company is an expression of confidence in the technology developed, as well as in all those who took part in this ambitious and challenging project – the company’s employees and managers, the doctors and hospitals who worked with us in Israel and abroad, and the investors who supported us all along the way. We are confident that thanks to the support of Edwards we will be able to continue to accelerate the development processes and clinical trials, so that the groundbreaking technology we have developed will advance as quickly as possible to help the many patients around the world.”
