Medtronic(MDT) About to Make Another Israeli Purchase
Written by: Aaron Katsman | February 17, 2009
There is no question that the hottest start-up industry in Israel is the medical device space. We continue to see M&A in that space and today Globes is reporting that US giant Medtronic is close to buying Ventor for $300 million. This is another feaher in the cap of the Israeli entrepenurial spirit, that even in bad economic times can keep pumping out these companies that get acquired.
This trend may have legs, as many multinationals have chosen to outsource their R&D in order to keep costs down, and will spend money to acquire new technology.
According to Globes: ” Medtronic has previously invested over $10 million in the start-up. Ventor has raised a total of around $20 million, so investors will see a return of over 12 times their investment. For the Israeli investors who invested in the company at an early stage, the return can be even greater. Ventore has developed an aortic valve prosthesis. The prosthesis can be implanted into a beating heart using a catheter, under local anesthesia. The valve has a unique geometric shape that improves hemodynamic performance.”
No question that this is cutting edge technology, and more is on the way.
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