TEL AVIV, Israel, September 10, 2013 /PRNewswire/ --
The Trendlines Group announces the recent acquisition of portfolio company FlowSense by Baxter International, a leading global healthcare company. FlowSense's URINFO fluid monitoring system provides accurate, real-time, and continuous monitoring of urine output. The company was founded by Trendlines in 2009 and taken public on the Tel Aviv Stock Exchange the following year.
Prior to founding FlowSense, Trendlines acquired the assets upon which the company was established and created a new company to develop and market the company's products. The company has since sold product in Europe, the United States, Israel, and China. The company generated interest from several potential strategic partners prior to the acquisition by Baxter for approximately $9.5 million, including liabilities.
According to D. Todd Dollinger, Chairman and CEO of Trendlines and Chairman of FlowSensefrom the company's creation through its exit: "The FlowSense acquisition by Baxter adds to other recent successes for Trendlines, including the sale of PolyTouch to Covidien and the IPO of ETView. Since the establishment of The Trendlines Group in 2007, more than $160 million has been invested in our portfolio companies."
About Trendlines:
Trendlines (http://www.trendlines.com) creates and develops companies to improve the human condition. Partnering with passionate Israeli innovators, Trendlines invents, incubates, and invests in innovation-based, early-stage medical and agricultural technologies. Trendlines provides entrepreneurs with an environment that nurtures curiosity and leadership and presents investors with significant opportunities.
For Media Relations:
Omri Salner | Ofir Shpigel Media and Public Relations| +972-04-9535030
Efrat@ofirpr.co.il
SOURCE FlowSense
