InSightec Announces a New Series D Funding of $50 Million to Accelerate Market Development of MR-Guided Focused Ultrasound Noninvasive Treatments

June 30, 2014

TIRAT CARMEL, Israel, June 30, 2014 /PRNewswire/ –

InSightec, the global leader and pioneer in MR-guided focused ultrasound (MRgFUS)
therapy for the non-invasive treatment of tumors, announced today that it is raising $50
million in its current D round of capital investment. The investment will be used to
accelerate market development and strengthen the implementation of InSightec’s strategy
developing the next generation non-invasive operating room.

The investment is done by York Capital Management, a new investor in the company,
leaving a limited time offer for other investors to invest in the current round either by
taking part of the $50 Million or expanding the investment to $62.5 Million. InSightec’s
pre-money valuation of the current round is $200 million.

“Having York Capital Management as one of InSightec’s investors adds business
savviness and a significant added value to the InSightec’s Board of Directors. It is also
a vote of confidence in InSightec,” said Kobi Vortman, Ph.D., CEO of InSightec.

“This capital will enable the expansion of our business through increased investments
in market development, sales, marketing and channel partner enablement, to meet global
demand for noninvasive treatment alternatives to surgery,” Dr. Vortman, added. “In
addition to accelerating market penetration, this major financing will give us the funding
we need to expand our clinical trials and provide the medical evidence needed to meet
regulatory and reimbursement requirements required to pursue our vision,” he concluded.

Jeremy Blank from York Capital said “InSightec has undoubtedly provided clinical
evidence for its efficacy in non-invasive treatments of multiple indications and continues
to expand its clinical usage. We are gratified to help provide the company with the means
to effectively go to market, bringing the technology and treatments they have developed to
physicians and thousands of patients.”

“We see this investment as a vote of confidence in InSightec, its technology and its
future”, said Tom Gentile, Chairperson of the Board of InSightec. “This capital will also
be highly instrumental for achieving a commercial success,” he added.


InSightec Ltd. is privately held by Elbit Imaging, General Electric, and MediTech
Advisors. Founded in 1999 InSightec developed ExAblate to transform MRI-guided Focused
Ultrasound (MRgFUS) into a clinically viable technology. ExAblate has won several awards
for innovation and its potential to help mankind including The Wall Street Journal
Technology Innovation Awards and the European Union’s IST grand prize. TIME magazine
recently named Focused Ultrasound as “one of 50 best inventions.” For more please visit:



Elbit Imaging Ltd. operates in the following principal fields of business: (i)
Commercial and Entertainment Centers – Initiation, construction and sale of shopping and
entertainment centers and other mixed-use real property projects, predominantly in the
retail sector, located in Central and Eastern Europe and in India, primarily through its
subsidiary Plaza Centers N.V. In certain circumstances and depending on market conditions,
we operate and manage commercial and entertainment centers prior to their sale; (ii)
Hotels – Hotel operation and management; (iii) Medical Industries – (a) research and
development, production and marketing of magnetic resonance imaging guided focused
ultrasound treatment equipment and (b) development of stem cell population expansion
technologies and stem cell therapy products for transplantation and regenerative medicine;
(iv) Residential Projects – Initiation, construction and sale of residential projects and
other mixed-use real property projects, predominately residential, located primarily in
India; (v) Fashion Apparel – Distribution and marketing of fashion apparel and accessories
in Israel.


York Capital Management is a global investment management firm with primary offices in
New York, London and Hong Kong. The firm, founded in 1991 by James G. Dinan, manages over
$23 billion employing event-driven investment strategies specializing in arbitrage,
special situations and credit opportunities.

        Media Contacts

        Xen Medelsohn Aderka
        VP of Marketing
        Email: Xenm@insightec.com
        Tel: +972-4-8131309

        Elbit Imaging
        Ron Hadassi
        Chairman of the Board of Directors
        Email: ron@elbitimaging.com
        Tel: +972-3-608-6048

        York Capital Management
        York Capital Public Relations Advisor
        Abernathy MacGregor
        Mary Beth Grover / Julia Kosygina
        Email: mbg@abmac.com / jvk@abmac.com
        Tel: +1(212)371-5999

SOURCE InSightec Ltd

Source: PR Newswire

comments powered by Disqus