Cnoga Medical Raises $50M From China’s BOE
March 7, 2017 | Chinese company BOE has invested $50 million in Israeli company Cnoga Medical for 23 percent of the company’s shares, reflecting a company value of $217 million, the two companies reported today. The shares given to BOE were newly issued, not sold shares. BOE is a Chinese laboratory equipment company that wants to establish itself as a leader in the medical sector. According to the BOE, Cnoga’s product, developed by the company since 2004, and which facilitates medical monitoring and processing of information on the cloud, matches BOE’s strategic plan. The deal also includes the signing of an agreement for joint marketing of Cnoga’s products in China and development of a new line of products for the professional health market. Cnoga, based in Or Akiva was founded by Dr. Yosef Segman in 2004.