Cleveland Clinic’s business development arm announced it will lend its commercialization services to Israeli health care companies looking to do business in the United States.
The so-called strategic partnership is with eHealth Ventures and Maccabi Healthcare Services Group of Tel Aviv. As part of the arrangement, Cleveland Clinic Innovations will offer Israeli companies its network of business advisers to evaluate products and advise throughout the commercialization process, according to a news release.
In the release, Dr. Thomas Graham, the Clinic’s chief innovation officer, said the collaboration could create jobs in Northeast Ohio. Moreover, he said, “At CCI, we recognize that innovation thrives through engaging in collaborations and this partnership with eHealth Ventures promises to bring success to both of our enterprises and our nations.”
Graham said the relationship would also provide new opportunities for the international commercialization of intellectual property from the Clinic and members of its Global Healthcare Innovations Alliance — a Clinic-led network of hospital systems, academic institutions and industry partners working together to commercialize promising technologies
“Cleveland has established itself as a leading knowledge-based economy, particularly in medical innovation,” Graham said. “This relationship establishes a base for Israeli health care and biotech companies to access our academic and commercial strength.”
In the release, Steve Shapiro, managing partner of eHealth Ventures, said Cleveland Clinic Innovations has “built a reputable brand as a global leader in health care corporate ventures” and the group’s expertise in commercializing devices, therapeutics, diagnostics and especially health information technology will be highly sought after by Israeli companies.
“We are delighted to be opening our borders while collaborating with Cleveland Clinic in our shared mission to improve patient care around the world,” Shapiro said.
By Timothy Magaw for Cleveland Business