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Sony Invests $10 Milion in Rainbow Medical



5/10/2013 8:47:52 AM

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Sources inform ''Globes'' that Sony Corporation (NYSE: SNE; TSE: 6758) has invested $10 million in Rainbow Medical Ltd. Last year, "Globes" reported that Sony wanted to expand its medical devices operations. Company representatives met Israeli medical devices companies, but decided against making any acquisitions for now, opting instead to invest in Rainbow Medical, which invests in the industry. Sony is not the first corporation to invest in Rainbow Medical. Global medical devices giants, including Medtronic Inc. (NYSE: MDT), Abbott Laboratories Inc. (NYSE: ABT), and Italy's Sorin SpA (BIT: SRN) have invested in the company. The first investment in the company was by GlenRock Israel, headed by Leon Recanati.

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Read at Globes Online


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