CartiHeal, makes biggest Israeli biomed exit of 2023

CartiHeal, was acquired for USD 330 million by the medical device giant Smith & Nephew

CartiHeal produces a biocompatible, coral-based implant for osteochondral joints, allows surgeons to insert a cylindrical implant into the patient’s knee, greatly reducing their pain and allowing the affected cartilage to regrow.

CartiHeal was founded in 2009 by Nir Altschuler in collaboration with Ben Gurion University. CartiHeal received FDA approval in 2022 and began successfully marketing its implant in leading U.S. hospitals this July.

Prior to CartiHeal’s achievements, over USD7 billion had been spent worldwide on developing a cartilage treatment technology. “CartiHeal is the first company in the world to develop such technology, and our implant is the only one so far that has received FDA approval” said company CEO Nir Altschuler.

CartiHeal began its journey in Peregrine’s Technological Incubator “Incentive”, where it received early-stage steering, in the form of product development and business advice. CartiHeal has now made the biggest exit of the year in Israel’s biomed industry.