Not to be picky but a major correction is that it

Not to be picky but a major correction is that it was not "Leo's money", it is IPIX's money. Your question is a good one though as Gil Shapira owns a successful company Neo-Laser, so he must have had a reason to keep BeaMedical as a separate entity and to go outside for capital. One thought is that as far as I am aware BeaMedical, Neo-laser and Shina Systems are all private companies. There could be a plan to take some or all of these companies' public at some point or possibly to merge with an existing public company. My biggest question is why BeaMedical would sell a minority stake at only an $11M overall valuation. It would appear that once they get final approvals that their new technology will produce annual revenue that will be many multiples of that valuation. Leo did get a BOD seat on the BeaMedical board along with the 2 BeaMedical founders, so I assume that they must have some type of plan to work closely as this new technology gets monetized.