InSightec Signs Worldwide Sales and Marketing Agreement With GE Healthcare
HAIFA, Israel, August 17 /PRNewswire/ -- InSightec, Ltd. has signed a worldwide sales and marketing agreement with GE Healthcare, a unit of General Electric Company (NYSE: GE), for the sales and marketing of its ExAblate(R) 2000, a Magnetic Resonance guided Focused Ultrasound surgery (MRgFUS) system, the company said today. ExAblate 2000 is a non-invasive therapy system that combines magnetic resonance imaging (MRI) with highly focused ultrasound to thermally ablate (destroy) tumors in the body. The ExAblate 2000 works exclusively with the Signa MR systems made by GE Healthcare. Under the terms of this agreement, GE Healthcare will have exclusive worldwide distribution rights for ExAblate except in Japan and Russia where InSightec already has existing distributors and representatives. InSightec and GE Healthcare will also collaborate on marketing and research and development. The agreement is for five years, effective immediately. GE is a minority shareholder in InSightec. "We are very pleased to have a formal agreement with GE Healthcare, the leader in the MR marketplace," Dr. Jacob Vortman, president and CEO, InSightec, said. "This relationship offers a clear differentiation for GE Healthcare, while allowing us to accelerate penetration of our MR guided Focused Ultrasound technology in markets around the world." The ExAblate 2000 is the first U.S. Food and Drug Administration (FDA) approved system to use the breakthrough MRgFUS technology that combines MRI -- to visualize tissues in the body, plan the treatment and monitor in real time treatment outcome -- and high intensity focused ultrasound to thermally ablate tissue. MR thermal feedback, provided uniquely by the system, allows the physician to control and adjust the treatment in real time to ensure that the targeted tumor is fully treated and surrounding tissue is spared. To date approximately 1200 women have been treated with ExAblate 2000 for uterine fibroids, a benign condition that affects approximately 25% of women, and clinical trials are underway for bone, liver, and breast tumors. About InSightec InSightec Image Guided Treatment Ltd. is a privately held company owned by Elbit Medical Imaging (EMI), General Electric, private investors and employees. It was founded in 1999 to develop the breakthrough MR guided Focused Ultrasound technology and transform it into the next generation operating rooms. Headquartered near Haifa, Israel, the company has over 100 employees and has invested more than $80 million in research, development, and clinical investigations. Its U.S. headquarters are located in Dallas, Texas. For more information, please go to: http://www.insightec.com/ About GE Healthcare GE Healthcare provides transformational medical technologies that are shaping a new age of patient care. GE Healthcare's expertise in medical imaging and information technologies, medical diagnostics, patient monitoring and life support systems, disease research, drug discovery, and biopharmaceutical manufacturing technologies is helping physicians detect disease earlier and tailor personalized treatments for their patients. GE Healthcare offers a broad range of products and services that are improving productivity in healthcare and enhancing patient care by enabling healthcare providers to better diagnose and treat cancer, heart disease, neurological diseases, and other conditions. GE Healthcare is a $15 billion unit of General Electric Company (NYSE: GE) headquartered in the United Kingdom. Worldwide, GE Healthcare employs more than 43,000 people committed to serving healthcare professionals and their patients in more than 100 countries. For more information about GE Healthcare, visit our website at www.gehealthcare.com. Contact Information InSightec www.insightec.com Tel: +972-4-813-1313 Email: email@example.com For media inquiries, contact: Fern Lazar Lazar Partners, Ltd. Tel: +1-(212)-867-1762 Email: firstname.lastname@example.org
SOURCE Insightec Ltd.
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