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A memorandum of understanding has been signed between the Israel Innovation Authority and Northwell Health, intended to streamline future cooperation in healthcare innovation, under the laws and regulations of the State of Israel and the US, the two sides have said in a press release Thursday.

Northwell Health is the largest healthcare network in New York State, made up of 21 hospitals, 450 clinics, and 61,000 employees, with 8 million patients. It is committed to supplying high-quality health services.

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Aharon Aharon, CEO of The Israel Innovation Authority, said in a statement: “This memorandum of understanding significantly expands the scope of cooperation and opportunities for Israeli companies looking to do business with the American health system, and helps connect Israel’s life sciences ecosystem to large sections of the international industry […] including investments in Israeli companies for pilot projects, [and] ‘Innovation Day’ meetings in Israel and abroad.”

Northwell Health operates a venture capital arm that works in cooperation with all clinical entities in the group and utilizes the know-how and expertise of all of Northwell Health’s institutional bodies. This expertise allows technology companies in the medical and pharmaceutical fields to cooperate with them on ongoing initiatives.

Cooperation between Northwell Health and the Israel Innovation Authority, as detailed in the Memorandum of Understanding, will include, among other things, joint requests for innovative projects, joint seminars, and meetings between Israeli and American companies.

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