The firm’s goal is to build relationships with Israeli companies through co-development or research grants, according to the Post-Bulletin. The project is an offshoot of an existing collaboration between Mayo Clinic and the Merage Institute in California, a philanthropic organization, which has been active for about a year.
Merage awards grants of up to $150,000 for Israeli firms working with Mayo to develop technologies, such as EyeYon Medical, which designs non-invasive medical devices to treat corneal conditions, according to the Post-Bulletin. This initiative is the first time Mayo has focused on a specific country to explore business opportunities.
Guy David, PhD, a health care management professor with the University of Pennsylvania Wharton School in Philadelphia, told the Post-Bulletin that for being such a small country, Israel’s technology business output is significantly larger than many larger nations.
“Israel is hugely innovative,” Dr. David told the Post-Bulletin. “There is no market in Israel. Israel is tiny. If they invent something, they know it has to be global product.”
More articles on health IT:
Cerner, Intermountain, Sutter among organizations leading $220M financing round of Heritage Group’s Healthcare Innovation Fund
Mayo Clinic improves patient satisfaction, cuts costs with new prenatal care approach
How Project Include is working to attract more women, diversity to tech
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.