The story
The company with which D. Medical was reverse-merged in 2004 was founded in 1992 as Peer Elevators and Industries (92) Ltd. (Hebrew: פאר מעליות ותעשיות (92) בע"מ). In 1994 Peer Elevators changed its name to Ram Tzur (or Ram Zur) Ltd. and went public on the Tel Aviv Stock Exchange. In 2001 Ram Tzur acquired the assets of Aryt Systems, a developer and manufacturer of advanced military equipment, and changed its name to Aryt Systems Ltd. In 2004 Aryt Systems, which had by that time become a shell company on the TASE Maintenance List, was acquired by Yehoshua Hershkovitz and sold to a group of investors comprising Zeev Bronfeld, Gal Erez, Eyal Sheratzky, and Meni Mor. They changed the name of the company to D. Medical Industries and used it to acquire a 73% stake in Nilimed, a Technion Entrepreneurial Incubator company.
In August 2010 D. Medical executed an initial public offering in the United States, raising $10.5 million. The company's shares were listed on the NASDAQ Capital Market until July 2012.
Mergers and acquisitions
In 2006 D. Medical acquired 72.99% of Nilimedix Ltd. for $1.5 million. Over time, it increased its stake in the company until as of 2010 it held 100% of Nilimedix's issued and outstanding share capital.
In 2007 D. Medical acquired 50.01% of Sindolor Medical Ltd. for $800,000. It reverse-merged the company with the shell company Sela Group and renamed it NextGen Biomed Ltd. In August 2011 D. Medical sold its stake in NextGen for $1.6 million.
From Wikipedia’s article on D. Medical Industries, shared under CC BY-SA 4.0.3