Midwest-based Medtronic and Abbott Laboratories have both gotten behind Israeli-based Rainbow Medical, with major investments as part of a $50 million fundraising effort. Rainbow Medical has a portfolio including 12 companies, all focused in medical device technology. The company has invested between $3-$5 million in each of the 12 companies in an effort to move from development to clinical trials.
Rainbow has already seen great successes, as 8 out of its 12 companies have a clinical trial underway, including Vascular Dynamics (which has developed a hypertension stent), Nano-Retina (developing a retinal prosthesis), and GluSense (developed an implantable glucose sensor). Read more from Fierce Medical Devices.
The Israel Economic Mission has many ways to be involved with companies like Rainbow, and other investment firms, incubators, and medical companies from Israel. In addition to connecting companies in the Midwest individually with relevant technologies, companies and other individuals in the U.S. can be exposed to Israeli technology at many yearly events, including the BIO International Conference in Boston (in June, 2012), the U.S.-Israel Healthcare Innovation Conference (November 27th, 2012), and Trendlines Road Show (held in March, 2012), among others. Contact Steven Slivnick to learn more.