ELRON INVESTS $7.3 MILLION IN IMPLIANT

Tel Aviv, Israel-based Elron Electronic Industries has completed a new $7.3 million investment in Impliant as part of an $18 million financing round from new and existing investors.

Following the investment, Elron will hold roughly 20 percent of Impliant. Elron also holds a 14 percent stake in Innomed Ventures, a venture fund that is also invested in Impliant.

Impliant is a privately held medical device company that is marketing a new posterior motion preservation system for spine surgery and a line of cushion-bearing joint arthroplasty products. Elron operates mainly through U.S. unit Elron TeleSoft, which develops networking and telecommunications software.