Rainbow Medical, based in Herzliya Pituach, Israel, is raising $50m in its second financing round.

Abbot Laboratories and Medtronics are investing in the financing round and two other investors including GlenRock Israel are participating.

Rainbow Medical CEO Efi Cohen-Arazi was quoted by globes.co.il as saying that the company believes that this is the last financing round it will need, before financed by exits and dividends from its current companies.

"We’re not exactly a venture capital fund, but an operative investment company that establishes companies on the basis of our patents, a model that exists nowhere else in the world," Arazi added.

"We serve in the management of all of the companies, offering a range of services, including regulation, financial management, and legal advice. In this way, we can go far on a small investment."