Stimatix GI, a medical device manufacturer based in Israel, is moving towards commercialization of its stoma device. According to a report by Bloomberg, the company is currently searching for a partner before jumping into the market.
The AOS-C2000 is a specialized device designed for patients with a stoma. A stoma is an artificial opening in the stomach for patients who have had their colons removed. The stoma is used as an exit port for fecal matter.
While colostomy bags are a common choice for patients who have undergone a colectomy, exterior colostomy bags carry a negative stigma. Many stoma patients feel a strong sense of embarrassment and discomfort wearing an external colostomy bag.
With new technology by Stimatix, colectomy patients will be able to control when they expel feces. In 2012, the device received CE Mark clearance in the European Union and approval with the United States Food and Drug Administration.
The colectomy market is currently dominated by three major players. This includes Coloplast (based in Denmark), ConoTek (based in the United States) and Hollister (based in the United Kingdom).
While the company is hoping for a partnership or a buyout from a larger company, there are no potential buyers as of now. However, the company has high hopes. Other medtech startups in Israel like Peer Medical, Sync-Rx and Oridion Systems have been purchased in the past year for millions of dollars.