MEDICAL DEVICE INNOVATION - Medical Device Daily
MEDICAL DEVICE INNOVATION - Medical Device Daily
MEDICAL DEVICE INNOVATION - Medical Device Daily
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<strong>MEDICAL</strong> <strong>DEVICE</strong> <strong>INNOVATION</strong> 2010<br />
69<br />
June 2007. InSightec is a private company owned by Elbit<br />
Imaging (Tel Aviv, Israel), General Electric (Fairfield,<br />
Connecticut), MediTech Advisors (Jerusalem), and employees.<br />
According to the company, it was founded in 1999 “to<br />
develop the breakthrough MR guided focused ultrasound<br />
technology and transform it into the next generation operating<br />
room.”<br />
“The Neuropathic pain study performed at Zurich<br />
demonstrated the feasibility to treat these patients noninvasively<br />
without adverse events and with very favorable<br />
preliminary efficacy,” said Dr. Kobi Vortman, President/CEO<br />
of InSightec, in a company statement. “The results of this<br />
study set the ground for extensive brain study addressing<br />
the areas of functional diseases like Parkinson and Epilepsy,<br />
brain tumors and stroke. This technology has the potential<br />
to help significant amount of patients while reducing trauma<br />
and morbidity. To advance this study, InSightec is collaborating<br />
with leading neurosurgery and neurology institutes<br />
around the world.”<br />
Earlier this year the company reported raising $15 million<br />
from its existing investors. Elbit invested $7.5 million<br />
and another $7.5 million was expected to be invested by its<br />
other investors within the next 12 months (<strong>Medical</strong> <strong>Device</strong><br />
<strong>Daily</strong>, March 20, 2009). InSightec said the funds would be<br />
used to expand its R&D efforts, for marketing and sales<br />
activities, and for general corporate purposes.<br />
(This story originally appeared in the July 15, 2009, edition<br />
of <strong>Medical</strong> <strong>Device</strong> <strong>Daily</strong>).<br />
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