Medtronic is planning to buy the Israeli company Visionsense for approximately $75 million, Globes reports.
Here are five insights.
1. Medtronic will pay $40 to $50 million in cash and an additional $25 million in milestone payments. This will be its 9th investment in Israel in the past 13 years.
2. Visionsense develops minimally invasive surgery technology, primarily for brain surgery.
3. The Israeli company has raised $20 million since it was established in 1998, and its last major financing round occurred in 2009. The company is financed by revenue from its products.
4. Visionsense's investors include Lewis Pell, Motti Beyar, Star Ventures, Peregrine Ventures and Glenrock Fund.
5. Electrical engineer and entrepreneur Avi Yaron founded Visionsense to develop an imaging device that would help remove his brain tumor without causing severe physical disability or epilepsy, which was predicted to result with the use of resources available at the time.