The company's share price fell 70% after it failed to obtain German insurance indemnity for its diabetes treatment.
InsuLine Medical Ltd. (TASE: INSL) CEO Mike Netz has resigned after the company's share price plunged 70% yesterday. The fall followed the company's announcement that it was unable to obtain the desired insurance indemnity for its diabetes treatment product in Germany, its main target market.
Netz will be replaced temporarily by Eyal Levy, a member of Insuline's board and a former CEO at SHL Telemedicine.
Published by Globes [online], Israel business news - www.globes-online.com - on March 3, 2015
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Mike Netz