Itamar Medical

Itamar Medical
TypeSubsidiary
IndustryMedical device
Founded1995 (1995)
Headquarters
Caesarea
,
Israel
Area served
Worldwide
Key people
ProductsWatchPAT, EndoPAT
RevenueUS$33.2 million
Number of employees
184 (2019)
ParentZOLL Medical Corporation
Websitewww.itamar-medical.com

Itamar Medical is a multinational company focused on the development, manufacturing and sales of medical devices related to respiratory sleep disorders. The company is headquartered in Caesarea, Israel[1] and is owned by ZOLL Medical Corporation. The company is a medical device company[2][3] providing continuum of care in the area of sleep disorder[4] based on its WatchPAT diagnostic devices and early diagnosis of Atherosclerosis.[5][6][7]

Itamar Medical was among the early companies to promote the link between sleep apnea and cardiovascular disease, and developed a platform enabling cardiologists to diagnose and manage sleep apnea in cardiac patients.[8]

History

Itamar Medical was founded in 1995 as a developer of devices for assessing vascular defects. Its early products included technology for early detection of heart disease (EndoPAT) and detection of sleep disorders[9] (WatchPAT).[10][11]

The company is named after Itamar Yaron (one of the founders' brothers), who was killed in the Yom Kippur War when trying to rescue an injured soldier and was awarded with a Medal of Courage.[12] Itamar's headquarters is located in Caesarea, Israel, and the company has offices in the US, Japan, and the Netherlands.[13]

In July 2002, Itamar Medical completed an $8 million financing round led by new investors, including Bay City Capital, with funds allocated into the development and commercialisation of its WatchPAT and ETT PAT devices, following FDA approval of WatchPAT for the U.S. market earlier that year.[14]

In 2007, the company went public on the Tel Aviv Stock Exchange and on the Nasdaq. In 2011, the company made its first step on the Indian market.[15] In 2012, the company's WatchPAT started being distributed in Russia by Medical Diagnostic Methods.[16]

In July 2013, the company entered into an agreement with Somnoware Healthcare Systems to integrate its WatchPAT device with Somnoware’s cloud-based platform, with the aim of improving the coordination and delivery of sleep apnea care.[17]

In January 2014, the company entered into a non-exclusive co-marketing agreement with Thorne Research, granting it marketing rights for the EndoPAT and WatchPAT devices in the United States and supporting their use among healthcare practitioners.[18]

In July 2016, the U.S. Food and Drug Administration (FDA) expanded the indication of the WatchPAT device to include patients aged 12 and older, lowering the previous minimum age of 17.[19]

In January 2019, Itamar Medical announced a private placement expected to raise nearly $12 million from U.S. and Israeli investors, with proceeds intended to support sales and marketing of its WatchPAT and EndoPAT devices.[20]

In October 2019, the company appointed cardiologist Jennifer Cook as Global Medical Director to lead its research, clinical strategy, and scientific collaborations.[21]

In 2020, the company raised $40 million on the NASDAQ.[22][23]

In October 2020, Itamar Medical Ltd was awarded the SleepTech Award by the National Sleep Foundation, recognising its innovation in sleep technology.[24][25]

In January 2021, the company agreed to acquire Spry Health, including its FDA-cleared wrist-worn remote patient monitoring system, to advance the development of continuous sleep apnea monitoring solutions.[26]

In August 2021, Itamar Medical appointed Marga Ortigas-Wedekind to its Board of Directors, bringing over 30 years of experience in medical technology and digital health, including senior roles at iRhythm Technologies and Omnicell.[27]

In December 2021, the company was acquired by ZOLL Medical Corporation and its stock delisted.[28]

Products and technology

The company’s Peripheral Arterial Tonometry (PAT) technology measures arterial function and blood flow during sleep to detect physiological signals associated with sleep apnea,[8] evaluating vascular response and cardiac workload.[36]

WatchPAT is a wearable diagnostic device that records physiological data during sleep and analyses it using proprietary algorithms to detect and assess sleep apnea.[8] The system typically includes a finger-mounted sensor and a wrist-worn recording unit, and has been reported to provide results comparable to polysomnography.[36]

The company also developed a platform that integrates the diagnosis, monitoring, and management of sleep apnea for healthcare providers.[8]

References

  1. ^ וינרב, גלי (2 August 2020). "Itamar Medical climbs the corona and leaves the sleep laboratories behind". globes. Gali Winrav.
  2. ^ "tamar Medical Ltd. American Depository Shares (ITMR)". nasdaq.
  3. ^ "Itamar Medical Ltd. – American – Consensus Indicates Potential 34.3% Upside". directorstalkinterviews. Charlotte Edwards. 21 March 2021.
  4. ^ "Market Live 2021- Global Home Sleep Screening Devices Market Can Deliver up to High CAGR over the next Few Years | Koninklijke Philips N.V., Garmin, ResMed, WebMD, Cleveland Medical Devices, NovaSom, Itamar Medical". mccourier. Data Bridge Market Research.
  5. ^ "Itamar Medical Ltd info". bloomberg.
  6. ^ "Covid-19 has made sleep clinics risky, which is where Itamar Medical's disposable home sleep apnea diagnosis kit comes in". globes. Gali Weinreb. 8 May 2020.
  7. ^ "Itamar Medical reports record revenues in the third quarter of 2020". talniri. 17 November 2020. Retrieved 5 September 2025.
  8. ^ a b c d David Shamah (2016-03-14). "How sleep apnea causes heart attacks – and how Israeli tech helps". The Times of Israel. Retrieved 2025-04-30.
  9. ^ "Most Recent Annual Report". annualreports.
  10. ^ "איתמר מדיקל הודיעה על הארכת חוזה עם קייזר - המניה מזנקת ב-14%". walla. ליאור זנו. 4 March 2010.
  11. ^ "ויולה הופכת לבעלת המניות הגדולה באיתמר מדיקל ותשקיע בה עד 28.4 מיליון דולר". TheMarker. ערן אזרן.
  12. ^ "גיורא ירון מ'איתמר' מספר על אחיו - "פצע עמוק נפער במשפחתנו"". Bizportal.
  13. ^ Mendes-Roter, Joao. "Council Post: The Digital Health Market Unplugged Penetration Strategy". Forbes. Retrieved 2024-11-14.
  14. ^ "Itamar Medical raised $8m for product development, marketing". TheStreet. 2002-07-16. Retrieved 2025-04-30.
  15. ^ גביזון, יורם (31 December 2010). "Itamar Medical's first step in the Indian market". הארץ. Yoram Gavizon.
  16. ^ "איתמר מדיקל חודרת לרוסיה". news1. פיטרס דניאל.
  17. ^ "Itamar Medical and Somnoware Healthcare Systems Join Forces". Sleep Review. 2013-07-02. Retrieved 2025-04-30.
  18. ^ "Thorne Research, Itamar Medical form partnership". New Hope Network. 2014-01-23. Retrieved 2025-04-30.
  19. ^ "FDA expands indication of WatchPAT for sleep apnea diagnosis among adolescents". Healio. 2016-07-29. Retrieved 2025-04-30.
  20. ^ Brad Perriello (2019-01-17). "Itamar Medical to raise $12m with private placement". MassDevice. Retrieved 2025-04-30.
  21. ^ "Itamar Medical Appoints Jennifer Cook, MD, FAHA, FACC, as Global Medical Director". SleepWorld Magazine. 2019-10-23. Retrieved 2025-04-30.
  22. ^ "Itamar CEO: Market potential $ 1 billion". israelbursa. Einav Cohen.
  23. ^ "Itamar Medical raises $35m on Nasdaq". Globes. February 2, 2020.
  24. ^ "Itamar Medical Wins National Sleep Foundation 2020 SleepTech Award". Respiratory Therapy. 2020-10-05. Retrieved 2025-04-30.
  25. ^ "Itamar Medical won the SleepTech Award from the US National Sleep Foundation for 2020". e-med. 6 October 2020.
  26. ^ "Itamar Medical Acquires Spry Health". Respiratory Therapy. 2021-01-22. Retrieved 2025-04-30.
  27. ^ "Itamar Medical appoints Marga Ortigas-Wedekind to its board of directors". BioSpace. 2021-08-12. Retrieved 2025-04-30.
  28. ^ "ZOLL Announces Closing of Acquisition of Itamar Medical" (Press release). Business Wire. December 16, 2021.
  29. ^ "Itamar Medical Announces Results from Multi-Center Study Validate Use of WatchPAT™ in Diagnosing Sleep Apnea in Patients with AFib". globenewswire (Press release). 8 December 2020.
  30. ^ "Itamar Medical wins National Sleep Foundation award". israel21c. 3 November 2020.
  31. ^ "איתמר מדיקל קיבלה אישור FDA לשיווק גרסה משופרת של ה-WatchPAT". TheMarker.
  32. ^ גביזון, יורם (4 January 2011). "Itamar Medical enters the US $ 3 billion market". הארץ. Yoram Gavizon.
  33. ^ Publishing, BIBA (March 27, 2009). "Study shows finger device may help predict heart events".
  34. ^ דאר, צורי (21 April 2004). "Itamar Medical has received FDA approval for a device for assessing vascular defects; Has completed a $ 5 million fundraiser". הארץ. Zori Dar.
  35. ^ "Itamar signs Medtronic deal for sleep device — Globes". en.globes.co.il. March 17, 2014.
  36. ^ a b David Shamah (2014-01-05). "Sleep apnea detector saves lives". The Times of Israel. Retrieved 2025-04-30.
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