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Medical Device Makers Look East

The once U.S.-centric medical-device industry goes to India, China, and Israel to hunt for startups to buy and patients to treat

Like a lot of people in the medical-device business, Larry Jasinski built his career in Massachusetts. Now he spends much of his time in Israel. Last year the former Boston Scientific exec became chief executive officer of Argo Medical Technologies, a 42-person startup in Yokneam Illit, Israel. Argo’s main product is the ReWalk, an exoskeleton for helping paraplegics walk again. The company’s research facility is at a Yokneam industrial park, which Jasinski says has become a center for health-care innovation. “Everybody here is a medical-device company,” he says. In Israel, “we are on the cusp of a golden age of medical-device investment,” says Jonathan Medved, founder and CEO of Jerusalem-based OurCrowd, a crowdfunding site that has invested in Argo. “People sense this is where the money is.”