Domain Elite invests $6.5M to bring SMART Medical Systems' endoscopy products to China

April 25
9:19 AM 2014

Domain Elite has funneled $6.5 million into SMART Medical Systems, a company that manufactures endoscopy and colonoscopy products. The new funding will be used to bring the said products to Greater China, according to Digital Journal.

Micah Zimmerman, chief executive officer (CEO) of Domain Elite, explained: "We have not only seen a significant need for endoscopy but also a substantial increase in use of endoscopy products in China. Working with SMART Medical Systems, we are advancing Domain Elite's mission to meet the need of the Chinese healthcare system for therapies that are more effective for the patient and less expensive for the medical system."

A portion of the investment is given to SMART Medical's Hong Kong subsidiary. This amount will be used to beef up the company's portfolio of gastrointestinal (GI) medical tools for endoscopy and cancer prevention. This expansion project will cater to customers in Greater China, Hong Kong, and Taiwan, the report detailed.

SMART Medical Systems is a company that develops innovative medical devices that help make diagnosis of GI diseases easier and more accurate. Its flagship product is the G-EYE endoscope, which is able to reveal pre-cancerous polyps in the colon using its modern balloon technology, Digital Journal reported.

© 2022 VCPOST, All rights reserved. Do not reproduce without permission.


Join the Conversation

Subscribe to VCpost newsletter

Sign up for our Deals of the Day newsletter.
We will not spam you!

Real Time Analytics