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IATI - Israel Advanced Technology Industries
IATI - Israel Advanced Technology Industries
IATI News & Events Daily Industry News Philips Healthcare to establish Israeli incubator

Philips Healthcare to establish Israeli incubator

Jul. 26, 2013

"We at Philips need to be more serious about our activity in Israel," said Philips Healthcare Senior VP business development, strategy and M&A Arnaud Bernaert. "There were ideas, which when we first encountered them seemed too advanced for acquisition, and which were ultimately sold to competitors."

During his last visit to Israel, Bernaert met about 30 medical start-ups, and he expects to continue relations with at least 4-5 of them. "This is only the tip of the iceberg of what exists in Israel," he said.

There is no one more suitable than Philips Healthcare to establish investment operations in Israeli start-ups. The company specializes in imaging and home healthcare, and it already has a large development center in Israel, with more than 600 employees in a range of fields. In the past few years, the company acquired CDP Medical, which develops digital picture archiving and communications systems (PACS), and closely cooperates with Corindus Vascular Robotics Inc., which has developed robotic-assisted stent placement without the need of a doctor in the room, enabling more precise placement of stents and enabling the doctor avoid exposure to radiation.

"I am surprised how Israeli companies are able to move forward with such limited resources," says Bernaert. "We want to cooperate with Israeli companies at an earlier stage. I have a mandate from Philips Healthcare CEO to establish in Israel an incubator style infrastructure."

For the full interview on Globes click here

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