Wallaby Medical acquires Phenox
Together, the companies aim to become the global market leader in the treatment of neurovascular diseases such as strokes.
The medical technology group Wallaby Medical has acquired the Bochum-based start-up Phenox for 500 million euros. The Phenox spin-off Femtos will also be part of Wallaby Medical in future. Together, the companies aim to become the global market leader in the treatment of neurovascular diseases.
Phenox has been in existence since 2005 and has developed various treatment options for strokes and aneurysms. Customers in more than 45 countries now use Phenox products. The spin-off Femtos develops neurovascular devices and implantable devices. The company makes use of laser technology for this purpose.
"This transaction will allow us to further develop Phenox's technology with Wallaby's strong resources and at the same time open up new markets for Phenox's products," says Phenox founder Hermann Monstadt.
Wallaby Medical has its main locations in the USA and China. The two companies have been working together as strategic partners since 2019. Wallaby Medical CEO Michael Alper will take over the management of the joint company. Monstadt will become Managing Director at Phenox. The money for the acquisition came from a Series D financing round of Wallaby Medical.
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