J&J Sets Sights On Israeli Start-Up Firm

23 October 1995

US company Johnson & Johnson is negotiating to buy a stake in the Israeli start-up group Medinol. According to the Jerusalem Post, J&J's planned $360 million investment would be one of the largest foreign investments ever made in an Israeli company.

Reportedly, J&J is interested in acquiring exclusive manufacturing and distribution rights for a unique spring used to hold heart arteries open, thereby eliminating the need for heart bypass surgery. Medinol's patent is held by Gregory Pinhasik, an immigrant scientist from the Commonwealth of Independent States. Medinol is owned by Kobi Richter, head of Marathon Capital Investments, which holds 35% of its outstanding share capital.

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