(Bloomberg) — Nano-X Imaging Ltd., a startup founded by Israeli investor Ran Poliakine, is joining forces with South Korean chipmaker SK Hynix Inc. to build a machine that could disrupt a century-old X-ray industry.
Valued at about $2 billion after listing on Nasdaq last month, Nano-X is seeking to transform a multi-billion-dollar industry that has essentially relied on the same technology since Nobel prize winner Wilhelm Roentgen discovered X-rays in the late-19th century. Nano-X’s device uses semiconductors instead of metal filaments to generate X-rays.
The backing of SK Hynix, the world’s second largest maker of memory chips, is a boost for an eight-year-old outfit that hasn’t quite established its tech bona fides yet. It also reflects growing technology cooperation between Israel and South Korea, two nations that have helped shape the global economy by advancing innovations and taking big risks.
Nano-X stock has more than doubled in the weeks since