Polytouch Medical
Develops products for mesh deployment and placement techniques in minimally invasive hernia repair surgery.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
| investor | €0.0 | round | |
$40.0m Valuation: $40.0m | Acquisition | ||
| Total Funding | 000k | ||
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Polytouch Medical, founded in March 2009, specialized in the development of technologies for hernia mesh placement. The Israeli company was established by Ofek Levin, Arik Levy, and Lena Levin. This founding team was recognized for their entrepreneurial efforts as winners of the BizTEC07 Israel national entrepreneurship competition. The company operated from the Misgav Venture Accelerator as a portfolio company of The Trendlines Group.
The core of Polytouch Medical's business was the creation and sale of medical devices for surgeons performing laparoscopic hernia repairs. Its flagship product was the PatchAssist™, a single-use surgical instrument designed for the accurate and rapid delivery and placement of soft tissue prosthetics, or mesh, during these minimally invasive procedures. The device was engineered to be compatible with all commercially available soft tissue prosthetics, a key feature that addressed a significant technical challenge in the field. The primary benefit for surgeons and hospitals was a potential reduction in operation time by 30-50%, aiming to improve efficiency in the operating room.
The company successfully navigated the regulatory landscape, receiving broad FDA 510(k) clearance to commercialize the PatchAssist™ in the United States in June 2010. Following this milestone, Polytouch raised $830,000 in a private financing round in September 2010, with investors including Mass Medical Angels and The Trendlines Group, to fund post-market clinical studies and a US market rollout planned for 2011. The PatchAssist™ technology was later advanced into a product named AccuMesh™. In a significant achievement demonstrating its value, Polytouch Medical was acquired by the global healthcare product provider Covidien in a deal reported in April 2012, with market sources estimating the value between $30 and $40 million.
Keywords: laparoscopic hernia repair, mesh placement device, surgical instruments, medical devices, soft tissue prosthetics, minimally invasive surgery, PatchAssist, AccuMesh, hernia mesh deployment, surgical technology, medtech, Ofek Levin, Arik Levy, The Trendlines Group, Covidien acquisition, surgical efficiency, FDA 510(k) clearance, ventral hernia repair