from the February 2008 issue

Bioness buys NESS for $75m.

Bioness Inc. (Santa Clara, Calif.) has completed the acquisition of Neuromuscular Electrical Stimulation Systems Ltd. (Ra'anana, Israel) for $75 million.

Bioness, which has an R&D center in Israel, was established in 2004 by the Alfred E. Mann Foundation for Scientific Research.

Neuromuscular Electrical Stimulation Systems (NESS) utilized neuromuscular electrical stimulation to develop equipment and systems to activate paralyzed muscles. The company is committed to providing technological solutions to respond to the needs of the millions of patients suffering from paralysis due to neurological disorders.

Incorporated in 1991, NESS is a private company that utilized the technology of surface neuromuscular electrical stimulation to develop solutions for activating paralyzed muscles. NESS' shareholders that include Teuza, an Israeli public venture capital fund associated with US-based Fairchild Group, The company's first product was the NESS H200 Handmaster - a non-invasive system for treating paralyzed hands. The NESS L300 is a device for gait rehabilitation and treatment of drop foot.

Reprinted from the Israel High-Tech & Investment Report February 2008

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