In Israeli medtech news that isn't Nanox, Tel Aviv medtech startup ENvizion has raised $18 million to disperse its feeding tube placement devices, which can navigate a patient’s stomach, throughout one of the largest private hospital networks in the US. Key investors include private medtech backers, family offices and the Technion VC fund.
Called ENVue, the FDA-approved device uses electromagnetic mapping to guide hospital staff in placing the tube from the nasal cavity down the esophagus, all the way through to the small intestine, exactly where nutrients are absorbed by the body.
In addition to the electromagnetic map, the technology offers multi-faceted vision (three angles that indicate the depth and height of the tube as it moves through the digestive system) and a directional arrow that shows white when everything is going smoothly and red when the tube is off track.
All in all, the product makes tube placement safe for patients and cuts the procedure time in half, says the startup. ENvizion has access to over 100 hospitals in the US, where about 8 million feeding tubes are placed “blindly” across the country each year.
The biggest story out of the Israeli medtech scene this year is Nanox. The startup developed a digital X-ray device that has not yet received regulatory approval nor earned any revenue, but has driven the company to an IPO and unicorn status all the same. Nanox raised $165.2 million in its initial public offering, claiming a valuation of just over $1 billion.