GE Healthcare Dumps $27.5 Million Into InSightec
Published: May 29, 2012
Elbit Medical Technologies Ltd. (TASE: EMTC) announced today 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 tremor‚ neuropathic pain and Parkinson’s 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.