SUCCESS STORY
Forging Deals with U.S. Partners:
A Case of Mutual Benefit
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After inventing the ReWalk, a device that allows paraplegics to move about in an upright position, in 2006, Amit Goffer, the CEO of Israel-based Argo Medical Technologies, needed a partner to secure funding for clinical trials and to provide access to technical support. So Goffer looked to the United States, where a rehabilitation hospital was interested in testing the product. Through various connections, Argo partnered with Allied Orthotics and Prosthetics in Mount Laurel, N.J. The two companies are now running clinical trials, and the ReWalk is expected to soon be ready for sale to the public.
"We looked into it and thought it could be a profitable venture for us," said Howard Brand, managing partner of Allied Orthotics. A device to help paraplegics walk had not been available previously, so the product was "important to an industry and to people."
Hundreds of other U.S. and Israeli companies have formed partnerships in the last several years, and more are forming every day. The dynamics of these partnerships were discussed at the conference, "The United States and Israel: Building Business Through Innovation," held recently in Washington, D.C., by the U.S. Chamber of Commerce.
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