Sofwave Medical, maker of the Sofwave device featuring Synchronous Ultrasound Parallel Beam Technology (SUPERB), which reduces fine lines and wrinkles and stimulates collagen product, has made its initial public offering (IPO) on the Tel Aviv Stock Exchange (TASE).
The device is FDA cleared and has the EU CE mark with sales across the global markets.
The company managed to raise $50 million at a pre-money valuation of ~$200 million. The IPO was led by Barak Capital Underwriters.
"Sofwave has developed groundbreaking technology for non-invasive treatment of fine lines and wrinkle reduction. The field of aesthetic medicine technology is one of the fastest-growing fields in medicine and Israel has become a global center of companies in the field. The IPO on the Tel Aviv Stock Exchange creates an opportunity for global investors to participate in the growth potential of this field and will enable Sofwave to continue to grow and establish its position as a world innovation leader in the field," said Dr. Shimon Eckhouse, CEO, chairman of the board of directors, and co-founder of Sofwave.