According to the South Florida Business Journal and Opko press release, Miami Florida-based Opko Health, Inc. has entered into a definitive agreement to acquire Israeli medical device company Inspiro Medical Ltd. The terms of the acquisition are undisclosed, but will likely be released in future SEC filings.
Inspiro Medical Ltd. describes itself as a medical device company dedicated to the development of a global inhalation platform designed to deliver both small molecules such as corticosteroids or beta agonists; and macromolecules such as antibodies or vaccines.
Inspiro Medical’s flagship product is a dry powder inhaler, the Inspiromatic. According to Inspiro Medical’s website, the Inspiromatic offers three significant improvements over other inhalers: first, the Inspiromatic works with extremely low inhalation flow rates; second, real-time feedback interface guides the patient and assures proper inhalation technique (namely, a green or red flashing light to indicate proper inhalation and a beeper after the dose has been delivered); and third, an integrated data logger stores patient use data for easy access and transmission by electronic devices, such as smart phones (particularly useful for assessing patient compliance).
Opko Health, Inc. describes itself as a multi-national pharmaceutical and diagnostics company (having 96.5M in 2013 revenues, according to its Mar. 3, 2014 filed 10K) that aims to establish industry-leading positions in large and rapidly growing medical markets by leveraging its discovery, development, and commercialization expertise and its novel and proprietary technologies.
Nimrok Kaufmann, CEO and Co-Founder of Inspiro Medical Ltd. stated:
We are extremely proud of Inspiro’s success in bringing our smart Inspiromatic™ respiratory drug-delivery device to market. With Inspiro now a part of OPKO, we will be able to help more people faster. Inspiro joining OPKO is a big win for the shareholders of both Inspiro and OPKO, as well as good news for our patients and physicians.