Cardlytics Partners with ActivePath

August 9, 2011

Atlanta-based Cardlytics has announced a partnership with Petach Tikva-based ActivePath on a joint marketing agreement that will enable retailers to embed offers into eStatements for banking customers to receive, view, and transact within email.

ActivePath’s breakthrough email banking technology redefines the way financial institutions communicate with their customers.  By creating a secure email channel for bi-directional communication with customers, their solution simplifies and personalizes the digital banking experience.  Cardlytics’ transaction marketing platform uniquely gives retailers a way to present relevant offers to targeted consumers – directly in their bank statement – where they are most likely to be noticed and acted upon.  Retailers can quickly and easily adjust the placement of offers to maximize their results, providing a far higher level of efficiency than has previously been available with any other marketing vehicle.

“We are very pleased to enter into this marketing agreement with Cardlytics.  By coupling our secure email banking system with Cardlytics’ transaction-driven marketing, banks have another communication channel available for retail offers. As a result, banks enhance the customer experience and improve the effectiveness of marketing offers to help increase the bottom line,” said Renan Levy, CEO of ActivePath.

Through this partnership, the two companies point out that banking customers can now receive enhanced offer-carrying eStatements directly into their inbox to be viewed and transacted from within the email message at their convenience without the need to log on to the bank’s website or download the statement.  Additionally, the partnership will provide banks and retailers with the ability to utilize
transaction-based marketing in the eStatement, a win-win solution that can help increase transaction volume, enhance customer relationships and generate new revenue.

“Through our partnership with ActivePath, financial institutions can now further their capability by providing offers through secure email. We are excited about the opportunities this will bring to banks and their customers, and we look forward to working together to drive retail advertisers’ purchase activity through another communication channel,” added said Scott Grimes, CEO of Cardlytics.


AICC Member Hatch Medical Expands Presence in Israeli Medical Device Market

June 2, 2011

Hatch Medical, L.L.C., a medical device incubator and technology brokerage firm, announced today expansion of its activities in the Israeli medical device industry. In an effort to offer its unique incubator model to Israeli medical device entrepreneurs and its brokerage services to established companies, Hatch Medical has partnered with Aaron Feldman, an Israel-based medical device executive.

Paul Gianneschi, Managing Principal at Hatch Medical commented, “Israel is recognized as a leader in life science innovation and we are excited to be working with Aaron in identifying cutting-edge medical device technologies for commercialization. Having a local presence in the Israeli market is expected to provide us with access to promising early-stage technologies and will allow us to effectively source innovative technologies and devices for our U.S. and European clients.”

According to Feldman, the response to Hatch Medical among Israeli companies has been enthusiastic. “Being itself a nimble, entrepreneurial-minded firm, Hatch Medical is uniquely in tune with the mindset and particular needs of the typical Israeli R&D company,” stated Feldman. The collaboration has already resulted in a consulting project, with discussions currently underway with a number of companies for business development projects.

For additional information on this, or on Hatch Medical, L.L.C., e-mail the company at info@hatchmedical.com, or call 770-476-9940. This release and additional news about Hatch Medical can be obtained by visiting the company’s web site at: http://www.hatchmedical.com.


U.S. and Israeli Companies to Explore Health IT Partnerships

March 28, 2011
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.

###

Contact:
Katie Brazel
Fleishman-Hillard
404-739-0150


AICC Member Vicki Grodner featured in The Birmingham News

February 16, 2011

Vikki Grodner of The Grodner Group organizes and promotes events. ( Beverly Taylor/The Birmingham News )

 

An American-Israel Chamber of Commerce member since 2010, Vicki Grodner founded The Grodner Group which specializes in promoting and planning events for nonprofits, small businesses, law firms and politicians.

To read more about Vicki and events such as “Little Red Dress” – which featured free heart health risk assessments from the American Heart Association, advice from cardiologists and information from Birmingham dentist Evelyn Teague on the connection between heart and dental health – click here.


The Future of Payments – Dec, 9th, 2010 -Videos & Pictures

December 11, 2010

Click here for more pictures from the event

Watch the Videos

The Future of Payments – Panel Discussion

WorkLight Prsentation

Orbograph Presentation

SeerGate Presentation


Guest Post: Fundamental Differences Between Israel Law and Georgia Law as Related to Real Estate Transactions

September 3, 2010

By Shelly Rabinovitch, Foreign Lawyer at Arnall Golden Gregory
Licensed in Israel Only

In America, signing the purchase and sale agreement in a real estate transaction is only one step in the process. But in Israel, that represents the final step.

In America, prospective purchasers enjoy an “inspection period” before the deal is complete. But in Israel, no such inspection period is required. Instead, a prospective purchaser signs a purchase and sale agreement, which contractually constitutes the completion of the transaction.

Other significant differences between the two nations have to do with clearing the title and paying taxes.
Knowing how U.S. and Israeli real estate law compare is crucially important to Israeli investors interested in U.S. properties. Committing to a deal, then suffering an unpleasant legal surprise, is something any investor wants to avoid.

The issue is particularly important now because of strong foreign investment interest in the U.S. More than 50 percent of respondents to the annual survey by AFIRE, the Association of Foreign Investors in Real Estate, said the U.S. provides the best opportunity for capital appreciation. That far outpaces the second and third finishers: the United Kingdom at 30 percent and China at 10 percent. Not since 2003 have 51 percent of AFIRE’s nearly 200 members ranked the U.S. No. 1.

Two-thirds of AFIRE respondents also said they planned to increase their investment in the U.S. this year compared to 2009. And 44 percent rated the U.S. the “most stable and secure real estate investment environment,” well ahead of Germany at 21 percent and Canada at 14 percent.

So it stands to reason that investors in Israel, like their counterparts around the globe, are keenly interested in increasing their U.S. property holdings. With that in mind, let’s take a closer look at some of the key areas where the two countries’ real estate laws differ.

When a purchase and sale agreement is signed in accordance with Israeli law, it is a “done” deal, as this is when the closing occurs. The buyer pays the first installment of the purchase price. That money is held in escrow by an attorney until a warning note, or notice of a pending deal, is registered under the seller’s name in the Land Registration Office, and the parties sign all the necessary paperwork to report the transaction to the tax authorities.

The deal is complete contractually because there is no subsequent inspection period or opt-out period. When a transaction is registered by the Land Registration Office, it is considered done, according to the Israeli Land Law.
In the U.S., however, an inspection period follows the signing of the purchase and sale agreement. The purchaser can inspect, review, consider and approve or disapprove, at the purchaser’s sole discretion, all economic, physical, legal, environmental and other aspects of the property.

At the end of this period, the purchaser may elect to terminate the agreement for any reason or no reason. If that happens, the earnest money paid by the purchaser is normally returned with any accumulated interest.

Similarly, in Israel, prior to the purchase and sale agreement, the parties sign a “term sheet,” which is a primary contract that includes only the main terms of the transaction, such as price, dates, payment schedule, etc. The term sheet is a binding primary agreement and not an agreement that is followed by an inspection period. After an agreed upon period, the final purchase and sale agreement is signed.

In the U.S., if the purchase and sale agreement is not terminated, then a date is set for a closing, at which time the purchaser transfers money to the seller and the transaction, for the most part, is complete. Sometimes a title agent is involved who disburses the funds and records the deeds in the county where the real estate is located.

With respect to title issues, the custom in Israel is that the attorney who represents the purchaser checks title issues for the client. Most real property in Israel is registered at the Land Registration Office, where block and lot numbers, applicable liens, mortgages and easements are all recorded. The purchaser’s attorney is responsible for checking records and making sure there are no contradictory rights.

In the U.S., title insurance companies check the title and the purchaser pays a title insurance fee that provides protection in the event there is something wrong with the title; for example, someone else is claiming ownership or a third party is claiming to have a lien on the property.

If a situation like that occurs in Israel (except in the event of fraud), the purchaser’s attorney can be charged with malpractice, and the parties might find themselves in court trying to prove their rights. A purchaser in the U.S. would look to the title insurance company for recourse and compensation.

Taxing real estate transactions differs substantially in the U.S. and Israel. In Israel, attorneys submit forms that include the purchase price and the details of the transaction. Based on this information, the purchaser pays a purchase tax, which is a percentage of the purchase price, and the seller pays a sales tax (except in special circumstances). The confirmation from the taxing authority that all taxes have been paid is a condition for registering the transaction in the Land Registration Office.
In the U.S., some states charge a transfer tax, which is not a property tax but an excise tax on the privilege of selling property. The security deed cannot be recorded until the transfer tax is paid. Although customarily paid by the seller, either the buyer or the seller may pay the tax as set forth in the agreement. There is also an intangible recording tax on each long-term note secured by real estate. And each state charges a tax, which varies from state to state.

In addition, real estate transactions are subject to capital gains taxes in both countries; but in Israel it is called a betterment tax (for real estate only). The betterment tax rate can be as high as 50 percent; if the property is residential, however, it could be exempt. The tax is paid on the increment between the sale and purchase prices of the property, adjusted to the Israel CPI.
In both countries there are various exceptions to the capital gains tax. Generally, the rate in the U.S. is 15 percent, but President Barack Obama proposes increasing that rate in 2011.

To qualify for the U.S. capital gains tax rate, one needs to hold the property for a lengthy period of time, otherwise the Internal Revenue Service might characterize the income as ordinary income, which is taxed at a higher rate. Israel and the U.S. have a tax treaty, so any capital gains taxes paid in the U.S. by Israeli citizens are deductible in Israel.

Understanding all the ins and outs of a real estate deal in one’s own country is hard enough. But understanding another country’s laws is even harder. So one of the first decisions any Israeli investor should make before investing in U.S. properties is choosing knowledgeable U.S. counsel.

Shelly Rabinovitch, a foreign lawyer licensed to practice in Israel, is a member of the Real Estate Practice Group and Commercial Real Estate / Leasing Practice Team at Arnall Golden Gregory LLP in Atlanta, Georgia.


AICC Member CardioMEMS Featured on ABC News

July 12, 2010

CardioMEMS is a medical device company that has developed and is commercializing a proprietary wireless sensing and communication technology for the human body. The company participated in AICC’s US-Israel Telehealth Business Exchange and has been a member ever since. Ralph Jordan, the company’s Vice President of Business Development is on AICC’s Board of Directors.

The company was recently featured on ABC News.


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