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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 />

To subscribe, please call <strong>MEDICAL</strong> <strong>DEVICE</strong> DAILY Customer Service at (800) 888-3912 outside the U.S. and Canada, call (404) 262-5547.<br />

Copyright © 2010 AHC Media LLC. Reproduction is strictly prohibited.

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