The investment in the ultrasound developer would be at a far higher company value than previous investments.
InSightec Image Guided Treatment Ltd. a subsidiary of Elbit Medical Imaging (Nasdaq: EMITF; TASE: EMIT) unit Elbit Medical Technologies Ltd. (TASE:EMTC), today reported that it approved a draft agreement for an investor to inject tens of millions of dollars into the company at a value far higher than previous investment rounds.
Insightec develops MRI-guided focused ultrasound devices for the treatment of uterine fibroids, tumors, and neurological disorders, such as essential tremor‚ neuropathic pain and Parkinson’s disease.
The company has yet to market its technology and has lost $220 million since its establishment.
In the last investment round in 2012, GE Healthcare invested $27 million at a company value of $75 million.
Published by Globes [online], Israel business news - www.globes-online.com - on April 13, 2014
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