Elbit Medical Imaging(NASDAQ: EMITF) has announced an add on investment in the private company InSightec. InSightec is a true symbol of Israeli ingenuity. The company develops a product that combines MRI technology with focused ultrasound in order to treat serious diseases such as bone, liver and brain tumors, without the invasive procedures that are currently used. This is clearly a huge development for the medical field.
With this increased fundraising round Elbit Medical now holds 53% of the company. Other investors include GE Capital Equity Holdings Inc., a subsidiary of General Electric Company (NYSE: GE) and MediTech Advisors LLC. The question that has been asked for over two years now is when are they going to do an IPO. The expected valuation of an IPO would be well north of $1 billion. Elbit Medical shareholders are anxiously awaiting an IPO to help unlock value in the parent company's stock.
In an interview to the Israeli business daily Globes, Elbit Medical Imaging president Shimon Yitzhaki, commented on the situation:
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