LTS Finishes Acquisition of Sorrel Wearable Injection Devices

TS LOHMANN Therapie-Systems AG (LTS), a leading pharmaceutical technology company, has completed the acquisition of Eitan Medical Ltd's (Eitan Medical) Sorrel Wearable Injection Devices (Sorrel' business in Netanya, Israel. The transaction's terms, which were announced on April 20, were not disclosed. The acquisition is an important step in LTS's strategy to diversify its portfolio of drug delivery technology platforms. Sorrel's wearable portfolio will enable LTS to expand its current offering beyond passive technologies (TTS, OTF, and MAP), opening up new opportunities for bio/pharma partners in biologics delivery. With the acquisition, Sorrel will become part of LTS' worldwide network and operate as a new business unit called LTS Device Technologies.

Dr Andrei Yosef has been appointed president and general manager of LTS Device Technologies. "The acquisition of the new wearable device platform is a critical step for LTS and catapults us into the world of biotechnological medicines," said Bas van Buijtenen, CEO of LTS. It serves our purpose because it provides an important alternative for patients who previously had to rely on time-consuming hospital treatment or a slew of injections or infusions. We believe that Sorrel's solutions will set a new standard for wearable functionality, quality, dependability, and patient comfort.

The technology is now ready for market and will benefit from LTS' global reach and reputation as it scales within the LTS organisation. LTS LOHMANN Therapie-Systems AG is a leading pharmaceutical technology company that develops innovative delivery systems such as transdermal patches (TTS) and oral active ingredient films (OTF) for large bio/pharmaceutical, generics and consumer health companies and manufactures.