Ellex acquires canaloplasty business

Ellex Medical Laser Limited announced that it has acquired the canaloplasty business of iScience Interventional, Inc.

The acquisition includes the iTrack 250 catheter and suture device.

On Dec. 31, 2013, Ellex paid $1.5 million for iScience’s canaloplasty business, including accounts receivable of approximately $500,000 and inventory of approximately $500,000. The transaction also covers manufacturing machinery and equipment and intellectual property.

“Combined with our SLT laser product portfolio, which targets the early stage of glaucoma, iTrack will enable Ellex to cement its position as the global leader in early to moderate glaucoma treatment intervention,” said Tom Spurling, CEO for Ellex.

Ellex, which is based in Adelaide, Australia, will continue to operate the canaloplasty business from its existing location in Menlo Park, Calif.