China’s Fosun to set up technology incubator in Israel

Global 12 June 2013
Fosun International Ltd. (HKSE: 656) will establish a technology incubator in Israel, Fosun International chairman Guo Guangchang told Prime Minister Benjamin Netanyahu. The move follows the acquisition of Alma Lasers Ltd. by Fosum International unit Shanghai Fosun Pharmaceutical Group Co. Ltd. for $240 million in April.
“The Fosun Group chairman updated the Prime Minister on the establishment of a venture capital fund in Israel to locate investments for the group in Israeli start-ups,” said the Prime Minister’s Office in a statement. “The group intends to increase its commercial presence in the form of a technological incubator to locate and promote Israeli technologies, as well as find additional business opportunities for cooperation with Israeli companies and distribute their products in the Chinese and international markets.”
When Fosun Pharma announced its acquisition of Alma Lasers, it said that it planned to utilize Israeli capabilities to find additional technologies, like other large foreign companies which make their first acquisition of an Israeli company. Fosun Pharma said it would establish Alma Lasers as a management platform for the R&D, manufacturing and sales of high-end medical devices, providing an internationalized development path for the company.
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