Cantel Medical (NYSE:CMN) today announced the acquisition of Jet Prep Ltd, an endoscopy device company based in Herzliya, Israel.
Jet Prep is the developer of the Jet Prep Flushing Device, an endoscopic tool used for washing mucosal tissue in the gastrointestinal tract which already has regulatory clearances for the U.S. and E.U. markets.
Jet will be integrated into Cantel’s Medivators Endoscopy, but will continue its operations in Israel. The terms of the contract were not disclosed.
This acquisition by Little Falls, NJ-based Cantel represents the company expanding its interest and strength in the endoscopic products.
“We see the Jet Prep product line as exactly the type of novel and highly differentiated product that Medivators should be introducing to the market," Cantel executive vice president & COO Jorgen Hansen said, in prepared remarks. "We know there is strong demand from physicians for a unique solution to improving visualization and have high expectations for its success in the GI endoscopy market. We remain confident in the continued strong growth of our Medivators Endoscopy business."