American medical company will market products made by Israeli endoscopic startup.
Israel’s Peer Medical recently merged with US gastrointestinal endoscopy company EndoChoice. The Israeli company developed a video system and endoscope to help doctors detect more cancerous polyps which the Atlanta-based firm will market. EndoChoice, a company that sells endoscopy devices, also announced it raised $43 million from Sequoia Capital to fuel its growth. The combined company will remain headquartered in Alpharetta, will have its research and design center in Caesarea, and is set to establish a manufacturing plant in Germany. “We’re taking an already successful business and adding game-changing technology and adding new investment,” said Mark Gilreath, the EndoChoice chief executive, who founded the firm in 2008. Peer Medical’s chief executive, Avi Levy, said he hopes the merger helps “commercialize this breakthrough technology.”