Israel granted $33 million (120 million shekels) to three multinational companies — Medtronic, GE Healthcare and Change Healthcare — as part of an effort to boost the country's digital health industry, according to Reuters.
The grants will be distributed over six years to expand the companies' research and development centers in Israel, which hopes to become a hub for digital health innovation.
"Expanding these R&D centers will help position Israel as a leading player in the field of biomedicine, while creating high quality jobs in the fields of engineering and manufacturing, generating additional exports worth billions of dollars," Economy Minister Eli Cohen said, according to Reuters.