The family-owned medical technology company KARL STORZ announces the acquisition of 100 percent of the shares of AventaMed DAC, an Irish medical technologies company. AventaMed is based in Cork where it was spun out of Munster Technological University in 2015. After gaining investment support through Enterprise Ireland and several angel investors based predominantly in Ireland, the company developed the Solo+ TTD. It is a breakthrough single-use medical device that addresses the pain points of the current treatment of the ENT surgical tympanostomy procedure to enable an entirely new method of treatment. The parties have agreed not to disclose the purchase price.
With this acquisition, KARL STORZ continues its bold approach to be the innovative partner of ENT surgeons for their state-of-the-art endoscopic treatment mission and enables the different sites of care to offer more efficient solutions for their patients. The ENT surgical tympanostomy procedure is the most frequently performed surgical procedure on children. The Solo+ TTD is intended to help in the treatment of otitis media (fluid in the middle ear) and to prevent consequent hearing loss in an in-office and outpatient setting under topical anaesthesia with a quick 1-step approach. It is a handheld device, with the ventilation tympanostomy tube pre-loaded at the tip. The otologist specialist uses the device to safely place the tube into the patient’s ear with just one click of the button.
AventaMed currently has seven employees, which are critical to the success of the transaction. Therefore, they will progressively and by function be fully integrated into the KARL STORZ operations. While the AventaMed Sales & Marketing employees will right away join the existing ENT team of KARL STORZ, other functions will remain standalone and will work in close collaboration with a dedicated KARL STORZ Integration and Advisory Team until they become an integral part of KARL STORZ.
Press Release: www.entandaudiologynews.com