China-based Sino Medical Sciences Technology Inc., (SHA: 688108) has announced plans to acquire a 72.73% stake in eLum Technologies Inc., an early-stage endovascular medical device company based in California, US, for USD 20.73 million. Upon completion of the deal, eLum will become the controlling subsidiary of Sino Medical Sciences Technology.
eLum Technologies: A Pioneer in Endovascular Devices
Founded in 2015 by the inventor of the first blood flow guidance device in the US, eLum Technologies is at the forefront of developing innovative endovascular medical devices. The company is currently developing a remote embolization protection system and a blood flow guidance device, both of which are leading in terms of research and development and clinical progress among similar products in the market.
Strategic Expansion and Global Presence
The acquisition of eLum Technologies by Sino Medical Sciences Technology Inc. signifies a strategic move to expand its global presence and enhance its product portfolio. This acquisition will provide Sino Medical Sciences Technology with access to cutting-edge endovascular technology and strengthen its position in the medical device industry, particularly in the field of endovascular solutions.-Fineline Info & Tech
