The company has developed Synchronous Ultrasound Parallel Beam Technology SUPERB, which provides a reduction in fine lines and wrinkles and restoration of skin features, and revitalizes collagen.
Sofwave Medical made its initial public offering (IPO) on the Tel Aviv Stock Exchange (TASE) and raised $50 million at a pre-money valuation of ~$200 million.
The IPO was led by Barak Capital Underwriters.
The company has developed Synchronous Ultrasound Parallel Beam Technology SUPERB, which provides a reduction in fine lines and wrinkles and restoration of skin features, and revitalizes collagen. Sofwave’s product is FDA cleared and has the EU CE mark with sales across the global markets. Learn more about Sofwave from Barry DiBernardo, MD, Medical Director of New Jersey Plastic Surgery in Montclair, NJ and Associate Clinical Professor in Plastic and Reconstructive surgery at UMDNJ in Newark, NJ.
“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,” saysDr. Shimon Eckhouse, CEO, Chairman of the Board of Directors, and Co-Founder of Sofwave, in a news release.
Louis Scafuri, Chief Executive Officer of Sofwave Medical adds, “our revenue traction and solid growth trajectory have attracted the interest of investors who saw our potential, as seen by the recent IPO. We will utilize certain proceeds from the IPO to expand both our commercial efforts as well indications for use of our novel game-changing technology.”
