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September 19, 2008

Rainbow Medical: Entrepreneurial Efficiency in Medical Devices

Article preview from Start-Up - September 2008

Find out how one of Israel's most prolific medical device entrepreneurs, Yossi Gross has launched an amazing number of companies in a wide array of clinical spaces.

Article preview from Start-Up - September 2008

Rainbow Medical: Entrepreneurial Efficiency in Medical Devices

What's the most efficient business model to wrap around a prolific medical device inventor? Rainbow Medical was formed to support the inventions of medtech entrepreneur Yossi Gross, in both the short term and over the long haul.

by David Cassak

  • One of Israel's most prolific serial entrepreneurs, Yossi Gross has launched an amazing number of medical device companies in a wide array of clinical spaces. But using conventional approaches to company creation, each of Gross' companies required him virtually to start over with each new technology.
  • Two years ago, Gross and GlenRock Israel, a private investment company headed by the long-time investor Leon Recanati, came up with an idea for a new approach to creating companies around the technologies Gross developed, and brought in seasoned executive Efi Cohen-Arazi to be part of the team.
  • Rainbow Medical is neither quite a venture fund nor a US-style incubator but has aspects of both: Rainbow's bet is not on any single company or technology but on the wide array of technology ideas Gross envisions, and the focus is as much on company creation and experienced management as on technology creation.
  • Rainbow's point: too many fledgling device companies have to spend their time raising money rather than developing their technology, while the founders have little experience in doing so or in building the company once capital comes in. Rainbow's innovative investment-fund strategy addresses both issues.

Even before Herzliya, Israel-based Rainbow Medical was launched last summer, Yossi Gross had already founded more than a dozen medical device companies and had established a reputation as one of Israel's most fertile serial entrepreneurs. (See "The Creative Mind of Yossi Gross, Medical Device Inventor," START-UP, October 2006 [2006900195].)

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Companies mentioned in this article:

American Medical Systems Holdings Inc.
Beta-O2 Technologies Ltd.
BioControl Medical Ltd.
Boston Scientific Corp.
BrainsGate Ltd.
Dexcom Inc.
E-Pill Pharma Ltd.
EarlySense Ltd.
Elan Corp. PLC
Elan Pharma (S.E.A.) Ltd.
Elron Electronic Industries Ltd.
GI View Ltd.
Medtronic Inc.
Teva Pharmaceutical
Industries Ltd.
TransPharma Medical Ltd.
VisionCare Ophthalmic Technologies Inc.

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START-UP: No publication reviews leading edge companies and technology better than START-UP. Each issue of START-UP profiles the most important new product companies, identifies the hottest technology areas, reviews funds flowing into private companies and investment trends, and reports on university tech transfer licensing. Industries covered: pharmaceuticals, biotechnology, medical equipment & devices, and in vitro diagnostics. Subscribe to START-UP.

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