Management of Mediterranean Towers Ventures opened trading on TASE on 13 July following the launch of a new investment fund that will focus on innovative technologies for aging.
The fund will invest in early-stage technology companies developing disruptive solutions for aging populations in all fields of life: health, culture and leisure, security and safety, loneliness, etc.
Mediterranean Towers is traded on the Tel Aviv Stock Exchange and is included in the TA-125 Index. By investing in technologies for aging, the company is expanding its operations and is dedicating itself to its vision of improving and enriching the lives of older adults - the fastest growing population segment in Israel and around the world.
Yair Serrousi, Chairman of Mediterranean Towers and Chairman of the Fund's Investments Committee: "We are proud to be the first to invest in this important field. We hope to lead the way and encourage further projects and developments dedicated to aging populations. The rising life expectancy and the rapid increase of the aging population around the world make technology ever more relevant, and present a challenge to find ways to improve older adults' quality of life. Mediterranean Towers is an innovative chain in the field of retirement communities. It implements a worldview dedicated to making life interesting for its residents. Thus, the establishment of the fund constitutes yet another component in our worldview. The fund is also looking beyond the economic and social aspects of this move. We will also encourage creating ties between older adults and the younger generation. By doing so, we hope to instigate new ideas and initiatives that will help develop products for the benefit of the aging population in Israel. Similar to other fields of technology, we believe Israel can lead the world in developing technologies for the aging population, and we are therefore proud to be the first to enter this field."
Viacheslav Fradin, TASE CRO: "TASE believes that developing a connection between innovative technologies and the hi-tech industry is of great importance, especially when it comes to creating solutions for the enrichment of our quality of life, including that of the aging population. When Mediterranean Towers first issued stocks in TASE in March 2014, its market cap was approx. NIS 640 million. Since then, the share price rose by approx. 54% and the company's market cap is today approx. NIS 862 million. The company paid dividends of NIS 40 million in the first half of 2017, and NIS 28.5 million in 2016. As the company launches its fund, we wish it much success, and hope it will improve the quality of life of the aging population."
Pictured, from right to left:
Mr. Dov Sugarman, Co-CEO of Mediterranean Towers Ventures Viacheslav; Dr. Yael Benvenisty, Co-CEO of Mediterranean Towers Ventures; Mr. Doron Arnon, Director General of Mediterranean Towers ;Mr. Yair Serrousi, Chairman of Mediterranean Towers; Fradin, TASE CRO and Ittai Ben-Zeev, TASE CEO.
Photographer: Guy Assayag (photo free-of-charge).