Ridgefield, CT, Oct. 28, 2021 (GLOBE NEWSWIRE) — Valam Corp. announced its intent to form a new company to “drive the adoption of new technologies that enhance in-office ENT procedures,” according to a press release. During the past couple of years Valam developed and obtained a vast product portfolio with assets that focused on 4 segments of the ENT market, each with comprehensive clinical solutions. The formation of the new company is part of the transformation process to become a powerhouse in the ENT market.
The new company will be independent with the goal to establish a new level of patient comfort and surgeon confidence that accelerate the adoption of ENT surgical procedures to the in-office setting.
The company expects this planned launch to create growth and improve value for all stakeholders.
“As part of Valam’s transformation, we are launching our new business to become a predominant player in the ENT field, and drive value creation,” Ron Hadani, Executive Chairman of Valam, said in the release. “For Valam, the transaction is an important step in shifting our focus toward developing and commercializing new comprehensive surgical solutions where we have a clear path to leadership and ability to win. We believe the new company will thrive with prioritized capital allocation to pursue strategic growth opportunities in the large and growing in-office ENT market. This transaction underscores our commitment to ensuring our priorities are aligned with shareholders’ best interests as we drive the business forward to meet patient and surgeon needs and advance our mission to drive the adoption of our new and innovative technologies that enhance in-office ENT procedures, resulting in outstanding clinical and economic outcomes.” Hadani added.
The company has targeted 1H22 for launch according to the release.