Health Technology ‘TSUNAMI’

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Israeli companies are in a prime position to take advantage of a lucrative “health technology tsunami” that is quickly approaching the country’s shores, according to the head of Ra’anana-based health care and life sciences venture- capital firm aMoon.

While approximately 20% of all global private investments in cybersecurity are in Israel, an extraordinary portion of the $150 billion global market, Schindel believes that there is hidden potential in health technology, which can add to and surpass the country’s success in the digital world.

“Healthcare is worth $10.5 trillion globally, it is a huge elephant in the middle of the room,” he said.

An experienced entrepreneur, Schindel realized just how lucrative the health technology market could be while leading the Prime Minister’s Office’s National Digital Bureau.

“We did some homework. In Israel, we have approximately 350 start-ups in cybersecurity and 1600 in health and life sciences. That’s five times as much intellectual property, talent and creativity – and the market is 100 times bigger,” Schindel said. “About three years ago, the government said ‘we understand.’”

Billionaire Marius Nacht, the co-founder of $18 billion cybersecurity firm Check Point Software Technologies Ltd., said Tuesday that the digitization of life sciences and healthcare will shake up the world, just as the advent of the internet and cybersecurity did.

“Just like the internet and cybersecurity 25 years ago, we see the digitization of life sciences and healthcare as the next tsunami and the next growth engine for Israel,” Nacht told the Jewish Federations of North America General Assembly in Tel Aviv.

Having set up aMoon, a life sciences venture capital fund that invests in innovative health technologies, after he saw his father agonize in a battle with cancer, Nacht also founded in 2017 a nonprofit organization that aims to make Israel a global leader on the healthcare map.

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