The company has developed a cloud-based platform, artificial intelligence, and an array of smart and autonomous sensors to gather information on valuable medical implants and narcotics in operating rooms and procedures, to assist hospitals in business and operational efficiencies, and to protect patient safety from prohibited or defective products.
The company submitted a draft prospectus for a first issue on the Tel Aviv Stock Exchange and intends to raise approximately NIS 40 million in this issue round.
Identi, which included its customers in the medical field, has shown a consistent increase since its inception, especially in the past year – the corona year, which, despite the crisis, sales of the company grew by about 30%. The company’s products are installed in more than 105 hospitals and multinational medical companies, including Johnson & Johnson, Medtronic, research bodies, and hospitals from the most advanced and leading in Israel and around the world.
Until today, Identi operated on the basis of equity and income from sales, and without raising capital from investors (Bootstrap). The offering is led by Infin Capital. Accompanied by attorneys Hod Maimon and Dror Barnea of Goldfarb Seligman & Co. On the financial side, accounting is accompanied by the Deloitte company.
The company was founded in 2017 out of a deep familiarity with the world of medical operations, by Shlomo Matityahu, a veteran entrepreneur in the Israeli medical high-tech world, who serves as the company’s CEO and brings with him over 30 years of experience in improving operational and business processes; and by Alon Negbi, VP Research and Development, an expert in leading software development and complex technology product development teams for 25 years.
Identi is targeting the bulk of the offering for rapid expansion and accelerating sales activity in the U.S. and European markets, along with increasing technological advantage and completing the product release development program. The company has penetrated 90% of hospitals in Israel and has recently signed a number of significant agreements and pilots abroad, including the United States, Europe, and Japan.
The company’s solutions help maximize the business potential of operating rooms and procedure rooms which until the advent of revolutionary technology were considered “gray areas” when it comes to tracking available inventory and consumed inventory. The automated sensors make it possible to streamline inventory management and get a complete picture of the costs and charges of surgeries and medical procedures, which are the main source of revenue for the hospital. In addition, the platform helps meet stringent regulatory requirements for digitally managing and documenting information and maintaining patient safety by an alert system against expired or defined as recall items.
The company’s cloud system contains information on hundreds of thousands of medical products, and integrated artificial intelligence and machine learning technologies that enable rapid automated documentation of information in the patient’s file and hospital systems and thus save a lot of investment that the hospital currently invests in maintaining an up-to-date database.
Shlomo Matityahu, CEO of the company: “IDENTI’s IPO as the first cloud services company issued by the Israel Stock Exchange for the medical field is a significant breakthrough in the medical industry’s march into a digital world, enabling real-time connection between medical equipment manufacturers and the hospital for patient benefit. In a year when hospitals and medical organizations are at the forefront of the war, we are proud to empower medical staff and strengthen the financial and operational soundness of hospitals.
Thanks to the offering, we will be able to bring the good news to other countries as well and help many hospitals deal with the reduction of the economic damage left by the fight against the coronavirus. We thank all our partners in the hospitals in Israel who, thanks to their full involvement, have been able to weave together an accurate mix of services and technological solutions that have never been seen before, capable of solving the many management challenges faced by hospitals around the world. ”
