NEW YORK, Jan. 09, 2020 (GLOBE NEWSWIRE) — Radiaction (“Radiaction” or the “Company”) and InnovaHealth Partners, LP (“InnovaHealth”) jointly announce today that InnovaHealth has made a growth equity investment in Radiaction and acquired a majority interest in the Company.
Jonathan Yifat, Chief Executive Officer of Radiaction, said, “Today’s announcement represents the next stage for our Company. We are excited about our partnership with InnovaHealth, which will allow us to bring our game-changing technology to the interventional suites. We look forward to realizing our vision of protecting healthcare providers who suffer from the consequences of radiation exposure on a daily basis.”
Radiaction has developed a robotic system that substantially reduces radiation exposure to physicians and technicians. The system operates by automatically deploying a shield from the C-arm unit that captures the radiation at the source, thereby preventing exposure to under-protected medical staff. The Radiaction system is designed to be compatible with any type of fixed C-arm imaging system and will seamlessly integrate into clinical workflow. There are approximately 20,000 fixed C-arm imaging units worldwide which are utilized in millions of medical procedures each year. The Company is based in Tel Aviv, Israel.
Amir Belson MD, Founder of Radiaction, added, “We welcome the InnovaHealth team and look forward to leveraging InnovaHealth’s capital, strategic relationships and clinical network to continue to build our market leading business.”
Ariella Golomb MD, InnovaHealth Managing Director, said, “We are impressed with the Radiaction team and the Company’s innovative technology. We expect our investment to significantly accelerate Radiaction’s commercial development and expand its clinical leadership, with an initial focus on interventional cardiology and electrophysiology.”
About InnovaHealth Partners
New York-based InnovaHealth Partners, LP is the leading medical technology growth private equity firm. The InnovaHealth team manages approximately $200 million and has over 100 years of experience investing in the global medical technology market.
Radiaction: Jonathan Yifat, CEO
InnovaHealth Partners: Tiffany Cheynier, Manager – Investor Relations