TEL AVIV, Israel, Dec. 27, 2022 /PRNewswire/ -- Xenia Venture Capital Ltd., ( www.xenia.co.il) an Israeli investment company engaged in the establishment, development, and investment in life sciences startups, has announced that Olympus Corporation, a global medical technology company that acquired Israeli Medi-Tate's iTind Procedure for BPH in May 2021, announced that the Centers for Medicare and Medicaid Services (CMS) would increase payment rates for the iTind procedure performed in the hospital-based outpatient department (HOPD) and Ambulatory Surgical Center (ASC). The proposed rule was finalized and announced on November 1, 2022, and rates will be effective January 1, 2023.
"I'm glad about the impressive achievement by Medi-Tate. This development is a huge and long-awaited milestone for the commercialization of the iTind Procedure, which will enable its widespread availability in the US market", said Xenia CEO Eli Sorzon.
Xenia Venture Capital is an investment company engaged in investing mainly in life science companies in Israel. Xenia also holds 50% of VLX, a technological incubator operating under the Israel Innovation Authority (IIA) incubator program.
In addition to financing, Xenia provides its companies with top-notch mentoring, business and strategic counseling, fundraising assistance, and exit planning.
Since its inception Xenia has invested in over 40 companies, which have attained significant technology and business achievements, resulting in substantial valuation increases, as well as strategic transactions with leading companies in the world, in each relevant field.
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SOURCE Xenia Venture Capital Ltd.