Vention Medical Buys Israel’s Lithotech Medical

January 30, 2017 | US company Vention Medical has completed the acquisition of Israeli company Lithotech Medical. Based in Katzrin in the Golan Heights, Lithotech has developed complex nitinol (nickel titanium) wire-based technologies for use in the design and manufacture of medical devices. Capital Point Ltd., which owns a 13.6% stake in Lithotech, reported that the acquisition is for 10 million shekels ($2.64 million) in cash and a further NIS 3 million ($793,000) in milestone performance payments. Founded in 2001 as part of the Katzrin incubator, Lithotech Medical employs a multidisciplinary team of more than 100 technical experts including physicists, material and mechanical engineers, and regulatory and quality control experts. The team has designed and developed more than 100 products for customers worldwide, with dozens of products currently on the market.