Pulsenmore has completed an IPO on the Tel Aviv Stock Exchange; raising NIS 137 million (USD 42 million)

Pulsenmore develops revolutionary home ultrasound devices for pregnant women

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Jun 23, 2021, 08:53 ET

OMER, Israel , June 23, 2021 /PRNewswire/ -- Pulsenmore Ltd. (Pulsenmore), (TASE: PULS) an Israeli company, completed an initial public offering on the Tel Aviv Stock Exchange, raising NIS 137 million (USD 42 million) as part of the offering. The issue was carried out at a pre-money value of approximately NIS 670 million (USD 204 million). The offering was led by the underwriting companies of Leader Capital, Apex Issuances and Value Base. The company's shares began trading on the stock exchange on Tuesday morning, June 15, 2021.

Pulsenmore is pioneering the use of at home ultrasound. The Pulsenmore ES miniaturized ultrasound device docks with a smartphone, allowing creation of quality fetal scans at home that are interpreted clinically by professionals, thus providing reassurance to women with regard to the status of their unborn fetus. Women can use the device to "stream" fetal images to their doctor as part of a real-time telehealth session. Additionally, a women can scan her baby at-home, anytime, and send the images for professional interpretation.

Pulsenmore has a major commercial agreement with Clalit Health Services, which includes an initial order of 20,000 units of the product. Clalit, Israel's largest health fund, with over 4.6 million insured patients, is the first Healthcare Maintenance Organization (HMO) to integrate the device into its offerings for pregnant women. The company is currently negotiating with other health funds, distributors and large companies around the world. In the company's product pipeline are additional products for women's healthcare which will serve as growth engines.

The Pulsenmore ES Device is approved for sale in Israel and Europe. The company has submitted an application to the US Food and Drug Administration (FDA) for US market clearance.

The company's CEO and founder, Dr. Elazar Sonnenschein, said today: "We thank the investing public for their great trust in the company, its products and its vision. We intend to develop the company into a global business. Our device introduces a higher level of availability into fetal monitoring, combining at-home ultrasound scanning with professional clinical review. We are driving a revolution in women's healthcare, bringing value to pregnant women and healthcare providers."

For further details:
Eisenberg-Eliasch:
Amir Eisenberg: +972-52-8260285
Naama Zellner: +972-54-5929150

SOURCE Pulsenmore Ltd.