Rainbow Medical Raising $50 Million Investment Fund

6/4/2012 8:30:37 AM

Sources inform ''Globes'' that Rainbow Medical Ltd., which was established on the basis of medical devices companies founded by serial entrepreneur Yossi Gross, is raising $50 million in its second financing round. Two of Rainbow's strategic investors Medtronics Inc. (NYSE: MDT) and Abbot Laboratories Inc. (NYSE: ABT) are investing in the round, and one of them has already transferred the money. Two other strategic investors are also participating in the round, along with GlenRock Israel of Leon Recanati, one of Rainbow's founders.

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