Israeli ultrasound developer Insightec raises $22m

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The Haifa-based company is at the forefront of the global shift towards non-invasive procedures.

Israeli ultrasound developer Insightec has raised $22 million in Series D financing from current shareholders. Based in Haifa shareholders include Elbit Medical Technologies Ltd. (TASE: EMTC), York Capital, GE Healthcare, Medtech Advisors and a Chinese investor.

Founded in 1999, Insightec has developed MR-guided Focused Ultrasound (MRgFUS), a completely non-invasive therapy platform that transforms medicine in an expanding number of neurosurgery, oncology and gynecology indications. MRgFUS is already adopted and used by world recognized physicians in more than 120 leading medical facilities around the world, who see the tremendous clinical and economical value of the Insightec therapy platform.

Insightec also said it had appointed Dr. Maurice R. Ferré as CEO. He succeeds Dr. Kobi Vortman, the company founder, who takes a seat on the board and will continue to drive strategy, as well as the product roadmap.

Dr. Vortman founded the company 16 years ago in 1999. His vision was to create the next generation operating room by developing MRgFUS technology as an effective, non-invasive form of therapy.

Dr. Ferré said, "Insightec is at the forefront of the global shift towards non-invasive procedures. These procedures have the potential to improve patient outcomes, reduce morbidity and trauma while reducing costs."

Dr. Vortman said, " The company offers clinical applications in three clinical areas: Women's Health, Oncology and Neurosurgery, and has over 90 patents and many regulatory approvals.

Published by Globes [online], Israel business news - www.globes-online.com - on January 10, 2016

© Copyright of Globes Publisher Itonut (1983) Ltd. 2016

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