Elbit Imaging Ltd’s announced that that Japan’s Ministry of Health, Labor and Welfare (MHLW) has approved its subsidiary InSightec’s MR-guided Focused Ultrasound (MRgFUS) system for the treatment of pain palliation caused by bone metastases and advanced treatment for women with uterine fibroids.
As a result, InSightec may expand its product portfolio for the Japanese market.
MHLW has also approved the advanced treatment for women with uterine fibroids. This advanced treatment provides additional treatment options and shortens treatment time, allowing physicians to better monitor the procedure.
GE Healthcare is the holder of the above mentioned approval and distributor of ExAblate in Japan.
The Company holds approximately 89% of the share capital of Elbit Medical Technologies Ltd. (TASE: EMTC-M) (on a fully diluted basis) which, in turn, holds approximately 37.6% of the share capital in InSightec (and 33.3% on a fully diluted basis).
Elbit Imaging Ltd. operates in the following principal fields of business: (i) Commercial and Entertainment Centers – Initiation, construction and sale of shopping and entertainment centers and other mixed-use real property projects, predominantly in the retail sector, located in Central and Eastern Europe and in India, primarily through its subsidiary Plaza Centers N.V. In certain circumstances and depending on market conditions, the Company operate and manage commercial and entertainment centers prior to their sale; (ii) Hotels – Hotel operation and management; (iii) Medical Industries – (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) Residential Projects – Initiation, construction and sale of residential projects and other mixed-use real property projects, predominately residential, located primarily in India; and (v) Fashion Apparel – Distribution and marketing of fashion apparel and accessories inIsrael.