Medtronic acquires the Israeli start-up Nutrimano for about $ 100 million

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by Ifi Reporter Category:Start Up Nov 21, 2018

Medtronic acquires the Israeli start-up Nutrimano, which analyzes information and creates nutrition analyzes. The Israeli start-up has raised $ 10 million to date. In a statement issued by Medtronic, the value of the agreement was not disclosed, but the market estimates that the deal is worth $ 100 million.
VETRINO has developed tools for the collection, processing and analysis of nutrition data, suitable for both end users and organizations. The company collects information about users from a variety of sources, such as home computing and various medical sensors (such as glucose monitoring devices) and analyzes the effect of various foods on the user. Its development is especially relevant for people with diabetes: Worldwide, there are about 415 million people with the disease - a number expected to reach 2040 to 642 million.
In September, Medtronic acquired Mazor Robotics for $ 1.6 billion, following an earlier investment in the company that included an option to purchase. In 2009, Medtronic purchased the Israeli company Ventor for $ 325 million, which was in the very early stages of development.
Yaron Yizhari, CEO of Medtronic Israel, said: "Medtronic has been active here since 1979, although initially only in sales and marketing. Its first acquisition here was carried out about 12 years ago, and since then the hand has been counting. Medtronic recently acquired Mazor for $ 1.6 billion, and the acquisition of Nutrient for Medtronic is an excellent integration of BIg Data Technologies into the diabetic field in which Medtronic is a world leader. "According to Yitzhari, this acquisition is not the last in Israel.
The leading investor in the venture is the Pereg Ventures Fund, which led the company's first round of financing, which totaled $ 8 million. The round, which took place last April, also included New York and private investors.

 

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