Sources inform ''Globes'' that Medtronic Inc. (NYSE: MDT) has invested $5-10 million in Israeli start-up Ventor Technologies Ltd. which has developed an aortic valve prosthesis. Both companies declined to comment on the report.
Ventor Technologies' easy to install aortic valve prosthesis has a unique geometric shape that improves hemodynamic performance. The prosthesis can be implanted into a beating heart using a catheter, without the need for surgery.
Ventor was founded by Dr. Ehud Shvemental of Sheba Medical Center Tel Hashomer, Rafi Benary and Dr. Shimon Eckhouse. Its president and CEO is Guy Ezekiel. Eckhouse is the founder and chairman of Syneron Medical Ltd. (Nasdaq: ELOS).
Medtronic is one of the world's largest medical devices companies, and specializes in implants. The company's investments in Israel include Itamar Medical Ltd. (TASE:ITMR); Percutaneous Valve Technologies Inc., which was sold to Edwards Lifesciences Inc., and Carmel Biosensors and Mindguard, which have both ceased operations. In 2006, Medtronic acquired Odin Medical Technologies Ltd and turned it into an R&D center as Medtronic Navigation Israel.
Published by Globes [online], Israel business news - www.globes-online.com - on May 12, 2008
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