UltraShape Medical Ltd. (TASE: USLP) has obtained EU CE Mark certification for integrating its radio frequency vacuum (RFVac) device with its third version of its Contour 1 ultrasound weight loss device. The report sent Ultrashape's share price up 12.3% by mid-afternoon, but shed some of the to end the day up 7%, at NIS 0.06, giving a market cap of NIS 110 million.
UltraShape's device uses ultrasound as a non-invasive method for removing fatty tissue. The RFVac technology heats the fatty tissue prior to treatment, which improves the treatment. After the treatment, it used to reheat the tissue to accelerate blood flow to help remove the fatty cells effectively.
UltraShape has already obtained CE Mark certification for the Contour 1, and is seeking US Food and Drug Administration (FDA) approval.
Last week, Oprah Winfrey touted the Contour 1 in her magazine "O", sending Ultrashape's share soaring nearly 80%.
UltraShape listed on the TASE following a reverse merger with Julex earlier this year. Israel Seed Partners owns 57.4% of the company.
Published by Globes [online], Israel business news - www.globes-online.com - on May 4, 2010
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