[ad_1] Final week was not a profitable one, to say the least, for Elbit Medical Applied sciences (TASE: EMTC). Two notifications to the Tel Aviv Inventory Alternate revealed the plight of two corporations that it holds that had been as soon as the nice hopes of Israel’s healthcare sector. The primary acknowledged that centered ultrasound firm InSightec (wherein Elbit Medical Applied sciences has a 3.1% stake) had a going concern qualification connected to its newest monetary statements, whereas the second acknowledged that stem cell firm Gamida-Cell (Nasdaq: GMDA) had entered right into a debt settlement wherein it was valued…
Author: Gali Weinreb
[ad_1] Israeli stem cell therapy firm Gamida Cell (Nasdaq: GMDA) has introduced that Highbridge Capital Administration, the corporate’s principal lender, will convert its $75 million bond into shares, and take the corporate non-public. With a market cap of simply $45 million, Gamida Cell goes by a difficult interval, with its share worth having misplaced 95% since its IPO. RELATED ARTICLES Gamida Cell surges after FDA approves most cancers therapy Based mostly in Jerusalem, Gamida Cell was based in 1998 and has advertising operations within the…
[ad_1] Israeli ingestible medical gadgets firm Epitomee Medical (TASE: EPIT) notified the Tel Aviv Inventory Alternate (TASE) this morning that its deliberate advertising accomplice Nestlé has introduced that the scientific trial outcomes of its weight reduction tablet, didn’t meet the targets set out within the settlement between them. Epitomee’s share value fell 71% at this time, wiping NIS 310 million off the corporate’s market cap. RELATED ARTICLES Epitomee jumps after constructive weight reduction tablet trial Weight reduction set to be pharma’s acquire Shimon Eckhouse: Entrepreneurship…
[ad_1] At a tough time for Israeli firms and for younger medical system firms, CartiHeal has succeeded find an alternate exit to the deal it signed in 2021 with US firm Bioventus that didn’t undergo. CartiHeal, developer of a medical system, Agili-C, for treating cartilage and joint floor lesions within the knee, might be offered to worldwide medical system firm Smith+Nephew plc (LON:SN, NYSE:SNN) for as much as $330 million. Smith+Nephew has a market cap of £8.9 billion on the London Inventory Alternate. $180 million might be payed instantly, and an extra $150 million in accordance with milestones, if…
[ad_1] Israeli medical robotics firm XACT Robotics has introduced to its 65 staff that it’s shutting down and shedding all people. Most staff have been unaware of the troubled state of the corporate and a few have been even employed in current months. XACT Robotics has developed autonomous robots for performing hands-free surgical procedure. It at the moment stays unclear whether or not staff can obtain the complete quantity of compensation resulting from them. A supply near the corporate instructed “Globes” that though XACT Robotics obtained FDA approval for its product in 2019 and started gross sales in 2020,…
[ad_1] Philips Healthcare Imaging is buying Israeli firm DiA Imaging Evaluation (previously DiA Cardio). The corporate has developed AI-software powered know-how for enhancing coronary heart ultrasound imaging evaluation and particularly these ultrasounds carried out by cellular gadgets. DiA’s largest shareholder Capital Level (TASE: CPTP) has notified the Tel Aviv Inventory Trade (TASE) that the corporate has been bought to a serious strategic firm, though the corporate was not named, sources have knowledgeable “Globes” that it’s Philips. DiA has 9 FDA approvals, the newest of which was obtained in February 2023, for software program that guides examinations within the discipline,…
[ad_1] US medical gadgets big Medtronic CEO Geoff Martha has written to workers explaining that the corporate is ready to bear a means of reorganization that can contain layoffs worldwide. The method is prone to imply dismissal for dozens of Medtronic workers in Israel. In an e-mail to workers Martha stated Medtronic had taken a call, “to place the corporate for sustainable development sooner or later. As you already know we’re working to trim prices in 2023. We have now restricted journey, slowed hiring, and supplied a US early retirement program however though these efforts have led to financial…
[ad_1] Zvi Marom, CEO of telecommunications and medical gear firm BATM Superior Communications (TASE: BVC; LSE: BVC), introduced at present that he could be stepping down from administration of the corporate that he based in 1992, and that he would turn into a director. Marom might be changed by the corporate’s CFO Moti Nagar, who joined it in 2015. BATM’s share value fell 1.8% at present, giving the corporate a market cap of NIS 490 million. Marom based BATM as a telecommunications options firm, and efficiently led it to flotations in Tel Aviv and London. On the finish of…
[ad_1] Israeli biopharmaceutical firm MediWound Ltd. (Nasdaq: MDWD), which has developed and sells a preparation for treating for burns that’s present process scientific trials for treating wounds, has introduced that it has raised $30 million. The fundraise was at market value. Among the many traders are New Period Capital Companions, Deep Perception, IBF, and Low cost Capital. Over the previous yr, MediWound’s share value has fallen 51%, in keeping with a decline within the biomed sector generally. The corporate has a present market cap of $58 million. Clal Biotechnology Industries (TASE: CBI) holds 33% of the corporate, and has…