Monday, December 5, 2011

Bethel Finance: Knee treatment co Apos raises $3m

www.bethelfinance.com

Bethel Finance news:

Apos Medical and Sports Technology Ltd., which has developed a device for the treatment of knee osteoarthritis, has raised a further $3 million from Aviv Venture Capital. This raises its latest financing round, which was led by Pitango Venture Capital from $8 million to $11 million. The extra capital will be used mainly to help the company enter the US market.

Apos has already begun marketing its products in Israel and in Europe and recently signed an agreement worth several million dollars with the UK's largest health insurance company BUPA.

Apos's product is a platform attached to a person's shoes to create multi-directional instability in walking to mimic natural walking on uneven surfaces, thereby strengthening the muscles and alleviating pain. Treatments take 30-60 minutes a day.

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