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  • Israel and Palestinian talking about peace, it looks promising this time. I like it.

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    • Zisser planning to float Insightec at billion-dollar company value
      08.2.2005 | 14:49
      Omri Cohen

      Moti Zisser is planning one of the greatest Israeli offerings of the year. His company Elbit Medical Imaging (Nasdaq:EMITF) is planning to float InSightec Imaging Guided Therapy at a company value of a billion dollars, TheMarker has learned.

      The initial public offering would tentatively take place by the third quarter's end, Zisser explained in a presentation to institutional investors in Tel Aviv today.

      Elbit Medical owns 52% of Insightec. The parent company, which began as a medical-technology firm but which Zisser bought and converted into a real estate investment vehicle, is itself worth a billion shekels. If he gets the price he wants for Insightec, Elbit Medical's value would soar.

      The putative offering targets Nasdaq, naturally: negotiations with potential underwriters have apparently commenced.

      The news of Zisser's ambitious plans is sending Elbit Medical stock soaring 11% on the Tel Aviv Stock Exchange, in early afternoon trade.

      Insightec investors include GE Capital, the global investment fund run by General Electric.

      Insightec has developed noninvasive technology to treat tumors. Its device, ExAblate, has received United States Food and Drug Administration approval to treat uterine fibroids, which are clumps of tissue that can cause miscarriages, painful menstruation and related problems in women.

      The system uses ultrasound waves to break up the clumps and can provide an alternative to the removal of a uterus, or hysterectomy. But the FDA did note that ExAblate is not intended for women who want to get pregnant in the future.

      The machine costs about a million dollars a pop. Insightec has sold ten of them so far, to hospitals. Any healthcare outfit buying the device will return its investment in 230 treatments, said its inventors at the conference today.

    • we wait for the Q4 you know when?

3.69-0.01(-0.27%)Jul 25 3:59 PMEDT

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