Sanara Ventures: Teva and Philips Join Forces to Tackle Medtech
By David Cassak
– As venture capital moves later stage – or dries up altogether – for medical device companies, start-ups are increasingly looking to large strategics to fill the funding gap at seed and early stages.
– For the large companies, early-stage investing offers insights into promising technologies down the road and helps make sure that those technologies will survive to fill their pipelines later on.
– In Israel, where early-stage medical technology is particularly abundant, thanks in part to a government-sponsored incubator program, two healthcare giants, Teva and Philips, have come together to back Sanara Ventures, which will focus on early-stage funding of medtech companies.
– The two – a giant pharmaceutical firm and one of the world’s leading capital equipment companies – are an unlikely team, but Sanara officials believe the pairing could work to the fund’s advantage, reducing possible conflicts down the road.
– As companies move from products to outcomes-driven solutions, Sanara argues that such alliances will become more common.
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