Corporate Updates

GE Healthcare invests $27.5m in Insightec

Elbit Medical Technologies Ltd.  announced that its subsidiary InSightec Image Guided Treatment Ltd. has signed a memorandum of understanding with GE Healthcare. Under the agreement, GE Healthcare will invest $27.5 million in the company. Insightec develops MRI-guided focused ultrasound devices for the treatment of uterine fibroids, tumors, and neurological disorders, such as essential tremorš neuropathic pain and Parkinsons disease.
GE Healthcare invested $13.5 million in Insightec in February and currently holds an 18% stake in the company while Elbit Medical has a 64.3% stake. The latest investment will be in the form of a loan convert-ible to shares, in two tranches, according to a company valuation of $102.5 million after money. At the end of the process, Elbit will reduce its stake in Insightec to 50%, while GE Healthcare will raise its stake to 40%. Elbit will lose its controlling stake but remain the largest shareholder.

dIgitalhealth

Follow and connect with us on Facebook, Twitter, LinkedIn, Elets video

Eletsonline News

Follow us on


Most Popular

SUBSCRIBE OUR NEWSLETTER
200000+ Subscribers read it every day.
Subscribe Newsletter
To Top