Medtronic (NYSE:MDT), GE Healthcare (NYSE:GE) and Change Healthcare have received approximately $33.1 million (NIS 120 million) from the Israeli government to support expanding the companies R&D centers in the country, according to a CTech report.
The grants are part of a six year, $264 million (NIS 922 million) program headed by the Israeli Ministry of Economy and the Israel Innovation Authority intended to promote digital health and accelerate the biomed industry in the country, according to the report.
Healthcare software, analytics and network solutions dev Change Healthcare received a $5.5 million (NIS 20 million) grant to support their Israel-based center, which employs approximately 100 individuals and is focused on developing cardiology information and monitoring systems, CTech reports.
GE Healthcare, who employs more than 400 employees at four centers in the region, received $13.8 million (NIS 50 million) from the grant, according to the report.
Medtronic, which employs approximately 800 employees, also received $13.8 million (NIS 50 million) from the grant, which is slated to be used to establish a development center for laparoscopic surgery visualization systems, according to the report.