from the July 2008 issue

GE Healthcare buys Versamed

VersaMed Corporation, an Israeli provider of portable critical care ventilators for respiratory care, has been acquired by GE Healthcare. Financial terms were not disclosed. VersaMed makes software-based smart mechanical life-support ventilators for a range of treatments. The company's flagship product, the iVent 201, is designed for use in the field and emergency care and has been approved by the US Food and Drug Administration (FDA) for use in hospitals, patients' homes, ambulances, and emergency treatment in the field. GE Healthcare Israel, a unit of General Electric Company, employing over 350 people, is world renowned for introducing the world's first miniaturized, portable cardiac ultrasound system. Versamed, with $30 million in revenue, was founded in Israel in 1994 and consists of 100 employees.

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

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