Maayan Ventures invests NIS 3m in hearing aid co Audiodent

Audiodent is developing a hearing aid that will be installed in the mouth.

Maayan Ventures Ltd. (TASE:MAYN) today announced a NIS 3 million investment in Audiodent, which developing a hearing aid that will be installed in the mouth.

Maayan Ventures CEO Tsvika Ben-Porat said Audiodent’s team included internationally known experts in the field, and that the company’s technology was protected by several patents.

Audiodent CEO Eyal Ben-Aharon said, “The company’s prototype was tested on several patients suffering from various forms of hearing impairment in different degrees. Responses from participating patients and ear nose and throat doctors were enthusiastic.” He estimated the market for the device in Israel and Europe at $2.5 billion, and said he hoped that the company’s device would change treatment of impaired hearing, since it solved existing problems.

With this investment, Maayan Ventures is continuing its recent momentum. Early this month, the incubator announced a $500,000 investment in optical communications start-up MultiPON Ltd. In late July, it invested $500,000 in Bright, which is developing photographic technology that makes it possible to capture poorly lit and brightly lit objects in the same picture. A few days earlier, the incubator announced that it was acquiring Advanced Technologies Center Ltd. (ATC) in Dimona and would merge it with its own operations, doubling Maayan’s portfolio, which will boost government support.

Published by Globes [online], Israel business news - www.globes.co.il - on August 21, 2006

© Copyright of Globes Publisher Itonut (1983) Ltd. 2006

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