Is­rael to grant funds to GE, Change & Medtronic

BioSpectrum (Asia) - - Regulatory News -

Is­rael’s gov­ern­ment will award grants to GE Health, Medtronic, and Change Health­care to sup­port the ex­pan­sion of their re­search and de­vel­op­ment cen­ters in the coun­try. The six-year pro­gram is headed by the Is­raeli Min­istry of Econ­omy and the Is­rael In­no­va­tion Author­ity, the gov­ern­ment’s tech in­vest­ment arm. Nashville-head­quar­tered Change Health­care of­fers soft­ware, an­a­lyt­ics, network so­lu­tions and tech­nol­ogy-en­abled ser­vices to var­i­ous play­ers in the Amer­i­can health­care sys­tem. The com­pany’s Is­raeli cen­tre, es­tab­lished in 1993, em­ploys around 100 peo­ple who de­velop in­for­ma­tion and mon­i­tor­ing sys­tems for the car­di­ol­ogy in­dus­try. The com­pany will re­ceive a grant of NIS 20 mil­lion (around $5.5 mil­lion). GE Health­care had set up lo­cal op­er­a­tions in the 1990s fol­low­ing sev­eral ac­qui­si­tions, the lat­est be­ing the as­sets of Or­botech Med­i­cal So­lu­tions Ltd. in 2011. GE Health­care em­ploys over 400 peo­ple in Is­rael in four lo­ca­tions, and in­tends to use its NIS 50 mil­lion (around $13.8 mil­lion) grant to hire 100 ad­di­tional em­ploy­ees and ex­pand its of­fices in two lo­ca­tion. In Is­rael, Medtronic em­ploys some 800 peo­ple in sev­eral lo­ca­tions. The com­pany will also re­ceive a grant of NIS 50 mil­lion, which will be used to es­tab­lish a de­vel­op­ment cen­tre for la­paro­scopic surgery vi­su­al­iza­tion sys­tems.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.