Elron did not disclose who made the inquiry. Elron has been selling assets in order to raise capital to repay its $50 million bank debt.
Medingo has developed the Solo miniature insulin dispensing patch pump for diabetics. The company has obtained US Food and Drug Administration (FDA) marketing certification for the insulin pump.
If Elron sells Medingo, this will be the second large sale of a portfolio company this year. In August, it sold its 15.24% stake in NetVision Ltd. (TASE: NTSN)for NIS 228 million to Discount Investment and sister company Clal Industries and Investments Ltd. (TASE: CII), as part of Dankner's effort to rationalize IDB's corporate structure. Elron will report a small capital gain on this sale, which it will use to reduce its bank debt.
Elron's share closed at $6.08 on Nasdaq yesterday, giving a market cap of $180 million. The share jumped 19.7% in early trading on the TASE today to NIS 27.90.
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