Elbit Imaging Ltd. Announces That InSightec Has Signed a Non-Binding Letter of Intent With an International MRI Scanner Manuf...
April 18 2016 - 6:48AM
Elbit Imaging Ltd. (TASE:EMITF) (NASDAQ:EMITF)
("
Elbit" or the "
Company")
announced today that it was informed by InSightec Ltd.
("
InSightec"), that InSightec has signed a
Non-binding Letter of Intent (LOI) with an international
manufacturer of MRI scanners to develop compatibility between
InSightec’s MRI guided Focused Ultrasound Systems (MRgFUS) and this
manufacturer's MRI scanners with the intention to expand the MRgFUS
market globally.
The completion of the transaction outlined in
the aforementioned LOI is subject to signing and implementation of
a definitive agreement between the Parties that include R&D and
regulatory approvals. The timelines of successful implementation
are unclear.
The Company holds approximately 89.9% of the
share capital of Elbit Medical Technologies Ltd. (TASE:EMTC-M)
(86.2% on a fully diluted basis) which, in turn, holds
approximately 31.3% of the share capital in InSightec (26.6% on a
fully diluted basis).
About Elbit Imaging
Ltd.
Elbit Imaging Ltd. operates in the following
principal fields of business: (i) Commercial centers - initiation,
construction, and sale of commercial centers and other mixed-use
property projects, predominantly in the retail sector, located in
Central and Eastern Europe. In certain circumstances and depending
on market conditions, the Group operates and manages commercial
centers prior to their sale. (ii) Hotels - hotels operation
and management. (iii) Medical industries and devices - (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) Plots in India - plots designated for sale initially
designated to residential
projects.
Any forward-looking statements in our releases include
statements regarding the intent, belief or current expectations of
Elbit Imaging Ltd. and our management about our business, financial
condition, results of operations, and its relationship with its
employees and the condition of our properties. Words such as
“believe,” “expect,” “intend,” “estimate” and similar expressions
are intended to identify forward-looking statements but are not the
exclusive means of identifying such statements. Actual results may
differ materially from those projected, expressed or implied in the
forward-looking statements as a result of various factors
including, without limitation, a change in market conditions, a
decision to deploy the cash for other business opportunities and
the factors set forth in our filings with the Securities and
Exchange Commission including, without limitation, Item 3.D of our
annual report on Form 20-F for the fiscal year ended December 31,
2014, under the caption “Risk Factors.” Any forward-looking
statements contained in our releases speak only as of the date of
such release, and we caution existing and prospective investors not
to place undue reliance on such statements. Such forward-looking
statements do not purport to be predictions of future events or
circumstances, and therefore, there can be no assurance that any
forward-looking statement contained in our releases will prove to
be accurate. We undertake no obligation to update or revise any
forward-looking statements.
For Further Information:
Company Contact
Ron Hadassi
Chairman of the Board of Directors
Tel: +972-3-608-6048
Fax: +972-3-608-6050
ron@elbitimaging.com
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