A group of medical devices companies and academic institutions are forming a medical imaging consortium with an estimated budget of $10 million a year over five years. The government is expected to shortly announce the venture’s final budget.
The Ministry of Industry, Trade and Labor will finance two-thirds of the venture, and the consortium’s member companies will finance one-third. Participating companies include Given Imaging Ltd. (Nasdaq: GIVN; TASE: GIVN), Lumenis Ltd. (Pink Sheets:LUME.PK), Medigus Ltd. (TASE:MDGS), and Bio-Light Israeli Life Sciences Investments Ltd. (TASE:BOLT). Participating academics include Prof. Arie Orenstein of Sheba Medical Center Tel Hashomer, Prof. Avraham Katzir and Prof. Yosi Shacham of Tel Aviv University, Dr. Robert Marks of Ben Gurion University of the Negev, and Prof. Eitan Galum of Hadassah Medical Organization.
The consortium’s goal is to create a foundation for joint developments in diagnostics, non-invasive treatments, and the use of imaging in post-surgical monitoring. The Ministry of Industry established similar consortiums with similar budgets for network management, process control, stem cells, dynamic spectrum management, and other fields.
Published by Globes [online], Israel business news - www.globes.co.il - on August 3, 2006
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