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Thursday, February 28, 2008

US Investors: Israeli Med Tech Is The New Black?

With the American economy not doing so well, one would expect to see investors more cautious about spending their money, especially over seas.

But it seems as if a few US investors are taking another glance at Israel's medical tech industry, which may be the sign of a new trend.

(Israel 21st Century) "We planned to raise $150 million but the fund is already oversubscribed at $162 million," says Jeff Dykan, managing director of the Tel Aviv-based fund, pointing out that the fund could end up turning away investors. "We won't go over $200 million," he says.

SCP Vitalife's success in raising money at time of global economic uncertainty is based on the track record of Dykan, and co-manager Avi Ludomirsky who just four years ago set up a $50 million fund that invested in 17 Israeli startups that have done exceedingly well.

Their success stories include the sale last March of Haifa-based Sightline to Stryker Corp. in a $140 million deal. Sightline is the developer of a new flexible endoscope for gastro-intestinal procedures. Stryker's satisfaction with the deal is reflected in the fact that it has now also invested in the new SCPVitalife Fund.

This comes to no surprise to those already familiar with the real Israel as the tiny nation continues to lead the way in medial breakthroughs.

Hopefully in the future we will be able to see other investors from Asia and Europe get involved within Israeli Med Tech scene, as having it dominated by "US Americans" can get a little old after awhile. ;-)

Important Note: Before you invest in any company you should do your own research to cover your own "rear end." Google Finance may be a great place to start.

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