Fidmi Medical, an Israeli MedTech startup developing enhanced feeding devices and solutions, has secured $2.2 million in funding. The round included leading Chinese medical tech company, Micro-Tech, The Trendlines Group, and Agriline. Along with the announcement, Micro-Tech has been named Fidmi’s exclusive distributor in the U.S. and China.
Easy to replace
Gastrostomy tubes, which help patients receive long-term nutritional support, are typically placed endoscopically and are replaced every 3-6 months. Complications such as clogging and dislodgement are common, resulting in inadequate nutrition and medication delivery, numerous tube replacements, and hospitalizations, all at substantial cost to patients and the health care system.
Fidmi introduces a low-profile gastrostomy system that can be utilized for both initial placement and replacement and is more durable and comfortable for patients. The Israeli developed product uses a replaceable inner tube that can easily be changed by patients without the assistance of medical professionals and a highly stable internal bumper that is resistant to accidental dislodgement. According to the company, these should help significantly lower risk of complications, subsequently reducing costs for payers and providers.
The funding announcement comes alongside Fidmi’s already secured FDA approval for distribution in the U.S. of its low-profile Percutaneous Endoscopic Gastrostomy (PEG). Fidmi Medical CEO Shahar Millis noted: “We are truly excited to embark on the market entry phase for Fidmi. With FDA clearance and strategic collaboration with Micro-Tech, a leader in this field, we are well-positioned to make a real difference for people requiring long-term nutritional support.” Fidmi was founded in 2014 by Ishay Benuri.
“Together, we saw the opportunity to distribute a device that positively impacts patients and helps them get back to living their lives. We worked quickly to align on a distribution plan that allows the system to be accessible by more physicians — meeting their needs for more efficient and higher quality patient care, all while tangibly reducing the cost,” said Chris Li, President of Micro-Tech Endoscopy USA. “We are proud to partner with Fidmi and applaud their success in improving patient quality of life.”