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Medtronic Medical Device Giant will Acquire Triple Jump

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.

The patch will be used in a future artificial pancreas system and will have mobile connectivity. CTO Guy Shinar and Ofer Yodfat launched Triple Jump, which is situated in the northern town of Yokneam, in 2015. Shinar was the CEO of X Technologies, which Guidant acquired in 2003 for $200 million. Yodfat was also one of the founders of Medingo, an insulin pump and patch company that was accepted to pharma giant Roche for $170 million in 2010. However, Roche shuttered Medingo’s activities in Israel in 2012, laying off all 150 employees.

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.

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