Philips, Teva Joint Ventures To Invest $26M in Israeli Med Tech

Fierce Medical Devices reported that Philips and Teva joint venture Sanara Ventures, based in Ra’anana, Israel, is aiming to buck that trend.
According to the market news:

The incubator has promised to spend about $26 million to support up to 50 digital health and med tech companies over the next 8 years. Its portfolio currently stands at four companies (out of 400 applications), and CEO Assaf Barnea said he’s aiming to fund 10 companies by the end of the year.

Barnea told Israeli business publication, Globes:

In the health industry, despite all the hype of digital health, the traditional sectors like medical devices are short on investors, especially for early-stage companies. The VC firms are looking for biotech offerings, the ones with exponential potential–the fantasies and the dreams; and they tend to invest in companies that are more developed. It is hard today for young medical devices ventures, and Sanara Ventures is stepping in to fill the void–with excellent timing.

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