Japanese chemical manufacturing company Kaneka has acquired a 96.8% stake in EndoStream Medical (ESM), an Israel-based medical equipment manufacturer.
The consideration for the deal is around $100m, reported the Times of Israel.
EndoStream Medical is a manufacturer of advanced technologies in the field of cerebrovascular diseases. The company is developing the Nautilus device, designed to treat cerebral aneurysms, including those with wide openings in the brain’s blood vessels.
The acquisition enables Kaneka to combine its manufacturing expertise with EndoStream Medical’s technology to develop new medical devices, with a special focus on cerebrovascular treatment devices.
Kaneka and EndoStream Medical will also continue working on the Nautilus aneurysm treatment device. By 2030, they aim to achieve sales of over JPY20bn ($126m).
EndoStream Medical will maintain its operations in Or Akiva, Israel, where it will serve as Kaneka’s research and development hub.
The Nautilus device features a spiral structure composed of nitinol wire, coated with a platinum-based alloy coil sleeve. This design effectively blocks and diverts blood flow to the aneurysm.
It also works in tandem with aneurysm embolisation coils, enabling treatment of aneurysms that were previously considered untreatable with existing devices.
In November 2024, the Nautilus device received regulatory approval in Europe, with plans underway for US approval and launch by spring 2026 and Japan by 2027.
Kaneka is expanding its business across multiple medical fields, including devices for treating cardiac, peripheral vascular, and cerebrovascular diseases, as well as gastrointestinal tract conditions.
In cerebrovascular disease, Kaneka offers the i-ED COIL, an embolisation coil designed to prevent damage from cerebral aneurysms causing subarachnoid haemorrhage.
The company is continuously growing its product portfolio to support further expansion. These medical businesses are marketed by a health care solution unit.
In late 2024, the chemical manufacturing company announced plans to construct a new catheter plant at the Tomatoh manufacturing site in Hokkaido.
