Sorrel Medical

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Q&A

What is Sorrel Medical's primary business?

Sorrel Medical develops and manufactures wearable drug-delivery devices designed to optimize the patient experience and value for pharmaceutical companies. Their platform is intended for subcutaneous delivery of injectable drugs, biologics, and biosimilars.

When was Sorrel Medical acquired and by whom?

Sorrel Medical was acquired in June 2023 by LTS Lohmann Therapie-System for $110,000,000.

What was the reported acquisition amount for Sorrel Medical?

Sorrel Medical was acquired for $110,000,000 in June 2023.

How many employees did Sorrel Medical have?

Sorrel Medical had 11-50 employees.

What was a significant partnership announced by Sorrel Medical in September 2020?

In September 2020, Sorrel Medical signed a strategic partnership agreement with a leading pharmaceutical company to integrate their drugs into Sorrel's wearable patch-pumps.

What award did Sorrel Medical receive in June 2019?

In June 2019, Sorrel Medical's wearable drug delivery platform won the 'Best New Technology Solution in Drug Delivery' designation from MedTech Breakthrough.

When did Sorrel Medical open a new manufacturing facility?

In July 2020, Sorrel Medical opened a new manufacturing facility with state-of-the-art cleanroom facilities to increase clinical and commercial supply capabilities for its wearable drug delivery devices.

What was the strategic focus for Sorrel Medical's parent company, Eitan Medical, after the acquisition?

Following the acquisition of Sorrel Medical by LTS, Eitan Medical planned to focus on its core infusion therapy portfolio, streamlining operations and strengthening its position in advanced and connected infusion therapy solutions.

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