Sunday, October 2, 2016

Chinese-Israeli fund to invest $250m in med tech

Joint annoucement between Neusoft and Infinity Group made at start of China-Israel Investment Summit in Tel Aviv

By Shoshanna Solomon

TIMES OF ISRAEL - September 25, 2016

Chinese IT corporation Neusoft and Israeli-Chinese private equity fund Infinity Group said they would jointly set up a $250 million fund to invest in Israeli medical technologies over the next three years. As part of the cooperation agreement, Neusoft will also make available to Israeli healthcare companies its cloud database via which they can gain access to clients in China and obtain approvals from China’s equivalent of the US Food and Drug Administration, the two companies said in an e-mailed statement. This is a first collaboration between Infinity Group, which is backed by investors and partners like the China Development Bank and Israel’s Clal Industries, and Neusoft, among China’s largest IT companies, which offers services and solutions to industries in the mobile, automotive and medical industries, according to their website.