Flat Medical said that it has acquired key assets from InjeQ, including IQ-Tip, which holds the breakthrough device status granted by the US Food and Drug Administration (FDA).
Financial terms of the deal were not disclosed.
The acquisition expands the Taiwanese medical technology company’s portfolio of healthcare solutions and is expected to strengthen its position in the medical device market. Also part of a deal are InjeQ’s intellectual property and technology assets.
IQ-Tip is a smart needle system that utilises bioimpedance-based tissue recognition technology. It enables precise identification of different tissue types, thereby enhancing accuracy and safety in various medical procedures.
According to Flat Medical, the device’s breakthrough status highlights its potential for more effective treatment and diagnosis of serious health conditions.
Flat Medical chief technology officer Liyu Lin said: “The IQ-Tip represents a significant advancement in tissue recognition technology, and we’re excited to leverage our resources and expertise to bring this innovative solution to healthcare providers and patients worldwide.”
The Taiwanese firm aims to speed up the development and commercialisation of the IQ-Tip. It will continue the ongoing advancements and explore new applications across various medical fields.
The medical technology firm plans to quickly deliver the technology to healthcare providers and patients.
Lin said: “We’re dedicated to ongoing research and development to uncover new potential uses across various medical specialties.
“Additionally, we’re focusing on making the system more mobilised and affordable, aiming to bring its benefits to a wider range of healthcare settings, including resource-constrained environments.”
Flat Medical is focused on safety and precision solutions for anaesthesia, pain management, and critical care.
Its flagship products, EpiFaith and EpiFaith CV, enhances patient safety by equipping medical professionals with advanced tools for successful procedures.
In May, the company secured a national group purchasing agreement with Premier. The agreement offers Premier members with special pricing for the EpiFaith Syringe. The device is designed to improve patient safety during epidural procedures by using proprietary visualisation technology.
Last year in October, Flat Medical closed its Series C funding round to accelerate growth in key markets across the US, Europe, and Asia–Pacific (APAC) region.
