Sorin Group, an Italy-based cardiac device maker, has invested $5m in Enopace Biomedical, an early-stage company developing a neuromodulation system to treat patients with heart failure, with an option to buy the Israel-based start-up.
In addition, Sorin is investing $5m in Rainbow Medical, an Israeli medical device incubator of 10 startups founded by Yossi Gross and owner of Enopace.
Rainbow Medical founded Enopace, which is led by Amir Dagan, in 2008.
Sorin previously invested an undisclosed amount in Enopace in 2011 and said it would make additional investments if performance milestones were hit for its micro-stimulator that increases cardiac efficiency by reducing left ventricular workload in heart failure patients.
André-Michel Ballester, chief executive of Sorin, said: “The Enopace investment is another important step forward in creating a significant long term growth platform in heart failure therapies.
“This deal is consistent with Sorin’s strategic plan to accelerate top-line growth through investments in innovation.”
Last month, Sorin bought Alcard Industria Mecanica, a Brazil-based manufacturer of medical devices for cardiac surgery.