Calcalist has heard that medical device company Medtronic is in advanced talks to buy Israeli startup Triple Jump for $300 million. This transaction follows investment in the Israeli firm in 2020, which included the option to purchase Triple Jump. According to the Israeli Corporations Authority, the acquisition was made through Covidien, which Medtronic purchased in 2015. Triple Jump is working on a novel tiny insulin pump patch that the patient wears.
Assaf Guy, a former executive at Medtronic, is the CEO of Triple Jump. Elixir Medical Corporation, Hong Kong investment group Wealth Strategy Holding, and seasoned entrepreneur Dov Moran are among Triple Jump’s additional investors.0020 Two years ago, paid $100 million for Nutrino, an Israeli AI-powered nutrition platform. To date, most significant acquisition in Israel was Mazor Robotics, which it spent $1.6 billion for in 2018. Medtronic plans to acquire the Israeli Triple Jump as soon as possible. In addition, their CEO is the former executive of Medtronic, which makes it more doable.