Medtronic, the U.S.-Irish medical technology company, said Thursday it was buying the Israeli startup Nutrino Health, which uses artificial intelligence to analyze how a person’s nutritional intake affects his or her health.
Medtronic said Nutrino’s technology will focus on diabetes, where food and nutrition are critical to effective disease management. In addition, by combining Nutrino’s algorithms to predict glycemic responses to food with continuous glucose monitoring, Medtronic said it hopes to reduce the physical and mental burden of nutrition management for people with diabetes.
“Bringing Nutrino and their nutrition-related expertise into our organization will give us a substantial differentiator in the diabetes industry and accelerate our progress to help people with diabetes live with greater freedom and better health,” said Hooman Hakami, executive vice president and president of Medtronic’s Diabetes Group.
The acquisition was the second in Israel announced in the last two months by Medtronic, which agreed in September to buy the surgical device maker Mazor Robotics for $1.6 billion. Sources at Nutrino told TheMarker that Medtronics was exploring a third Israeli acquisition.
Founded in 2011 and led by CEO Yael Glassman, Nutrino has raised $10 million and employs 25 people — 23 in Tel Aviv and two in San Francisco. Nutrino and Medtronic have cooperated on projects for two years.
Medtronic is a major player in Israeli high-tech, with three research and development centers employing 800 people. The latest acquisitions will increase its local workforce to more than 1,000.