The Tezua Fund announced Sunday that that it has signed an agreement to sell NESS, a medical equipment producer from Ra'anana, to Alfred Mann and American firm Bioness Inc. for a total of $75 million, including $28m. for NESS and the remainder in Bioness shares.
The Tezua Fund is a publicly traded company which currently invests in nine hi-tech firms. Bioness was founded in 2004 by Mann to market NESS products in North America. NESS develops advanced bionic technology that uses electrical stimulation to rehabilitate muscle in paralyzed patients.