U.S. and Israeli Companies to Explore Health IT Partnerships at Atlanta Business Exchange
American-Israel Chamber of Commerce pre-qualifies companies to participate in one-on-one meetings
ATLANTA, March 14, 2011 — Georgia ranks No.1 in the U.S. in health-care IT industry revenue, generating $4 billion in revenue last year. As the country’s hub for health IT, it’s little wonder that leading U.S. and Israel-based health IT companies are convening in Atlanta on April 11-12 to explore partnerships that could lead to improved and more innovative health solutions. The U.S.-Israel Healthcare IT Business Exchange, sponsored by the American-Israel Chamber of Commerce (AICC), provides major U.S. stakeholders in health IT with access and introductions to the leading Israeli technology companies in this sector. This year’s event takes place at Georgia Tech’s Enterprise Innovation Institute.
The goal of the Business Exchange is to foster joint venture research and development, investment and marketing alliances between the U.S. and Israeli companies. Toward that end, the AICC pre-qualifies companies to participate in one-on-one meetings, pairing them based on common goals and complementary technologies.
“The AICC Medical Committee’s healthcare IT experts have worked to identify cutting-edge Israeli companies whose products and services are built for tomorrow’s health IT landscape,” said Dr. Mark Braunstein, associate director of Georgia Tech’s Health Systems Institute. He was co-founder of PROHECA, an early developer of clinical pharmacy systems that was the forerunner of NDCHealth, co-founder, chairman and CEO of Patient Care Technologies, Inc., and a past chairman of the AICC.
“As this new era of healthcare computing unfolds, this unique Health IT Business Exchange will offer U.S. corporations the opportunity to engage with these Israeli companies in an effort to foster business relationships and meet the growing needs of the marketplace,” Braunstein added.
Atlanta, epicenter of U.S. Healthcare IT
The selection of Atlanta as the location for the Exchange was strategic. With more than 100 established healthcare IT companies headquartered in Georgia, many in the metro area, Atlanta is considered the epicenter of healthcare IT in the U.S.
With Federal stimulus funding driving technology adoption, U.S. healthcare companies are more engaged than ever before in developing new IT practices. Israel, however, has been at the forefront of new healthcare technologies for many years and boasts a nationwide electronic healthcare records adoption rate of more than 90 percent.
This year’s Exchange is the fourth time the AICC has focused on HIT; the first event was held in 1994. McKesson, a leading healthcare services and information technology company with offices in Atlanta and a sponsor of this year’s Exchange, acquired Medcon, an Israeli company providing web-based cardiac image and information management, for $105 million in 2005. The relationship between the two companies originated through an AICC introduction.
“The Business Exchange allows us to have very focused discussions with interesting technology companies,” said Randy Hyun, senior vice president, strategy and business development, McKesson Corporation. “At McKesson, we are always interested in learning more about unique solutions that can add value to our healthcare provider customer base. In general, we find that many Israeli companies are on the cutting edge of healthcare technologies and solutions.”
Israeli Success in Atlanta
Other Israeli technology companies have also found enduring success in Atlanta. Given Imaging, (NASDAQ: GIVN), a world leader in specialty GI products and the pioneer of capsule endoscopy,
is based in Yokneam, Israel and chose Atlanta for its North American headquarters in 2001.
“Atlanta is an ideal location for Israeli companies to expand their North American footprint,” said Skip Baldino, president – Americas, Given Imaging, Inc. “Atlanta offers close proximity to world renowned universities, a large trained workforce, many of the leading U.S. medical centers and facilities and a business community that is very supportive of Israeli companies. I encourage both U.S. and Israeli companies to participate in this year’s Healthcare IT Business Exchange.”
Kobi Margolin, co-chair of the event, seconds that remark. Currently CEO of an Atlanta-based health IT company, Clinigence, Margolin originally came to Atlanta several years ago to run the U.S. operations of an Israeli company, Algotec that was eventually acquired by Kodak.
“My own experiences, first at Algotec and now with Clinigence, emphasize Atlanta’s welcoming business environment and the wealth of healthcare IT opportunities that abound throughout the state and region,” Margolin said. “The Business Exchange is our way of paying it forward to the U.S. market. Israeli companies have so much to share with their American counterparts in terms of unique technology and innovative solutions to healthcare’s most pressing challenges.”
Assa Reichert, who serves as the Israel chair of the event, observed, “The Business Exchange brings together the best of Israel innovation with the firepower of America’s most respected healthcare IT companies and users. The result is an unprecedented opportunity for participating companies from both countries to forge dynamic partnerships that have the potential for changing the healthcare IT landscape.” Reichert is executive vice president at HealSis Ltd., an Israeli healthcare consultancy.
For more information about the 2011 U.S.-Israel Health IT Business Exchange and to apply to participate, visit the event’s website at www.usisraelexchange.com .
About the American-Israel Chamber of Commerce
The American-Israel Chamber of Commerce (AICC) is a bi-national business association with the mission of increasing economic development by fostering understanding, cooperation and business relationships between Israel and the Southeast. Since its founding in 1993, AICC has been involved in completed transactions valued at more than $950 million, creating jobs and benefiting the economies of both Israel and the Southeast. AICC targets a range of projects involving import, export, research and development, direct investment and joint ventures. Key areas of focus include software, telecommunications and energy.