The pure scientific research was left with HEMED, while the development of weapons was placed into the new EMET agency.

[3] In 1954 Ben-Gurion decided to change the name of EMET to RAFAEL (Hebrew: רשות לפיתוח אמצעי לחימה, lit.

Initially the new company had three discrete divisions, each operating as a profit center, with a separate balance sheet presented to the newly formed management board.

[7] The restructuring was completed in 2002 when Rafael was formally incorporated as a limited company (although still as a government-owned corporation), while maintaining its technological capabilities through an investment of about 10% of turnover in R&D programs.

In 1993, Rafael Development Corporation (RDC), a technology transfer company, was established as a joint venture with Elron Electronic Industries; in order to commercialize applications based on defense technologies for medical devices, telecommunications, and semiconductor industries.