InSightec Ltd. Announces $30 Million Investment Round

InSightec Ltd. Announces $30 Million Investment Round

November 29, 2007

    TIRAT CARMET, Israel, Nov. 29 /Xinhua-PRNewswire/ --
InSightec Ltd. today reported that it has closed an
internal round of financing totaling $30 million from its
existing investors: Elbit Imaging Ltd. (Nasdaq: EMITF), GE
Capital Equity Holdings Inc., a subsidiary of General
Electric Company (NYSE: GE), MediTech Advisors LLC
("MTA"), a private firm specializing in the
healthcare marketplace, and directors and managers of the
company.

    The investment will take the form of Preferred Shares,
which are convertible to InSightec's ordinary shares
subject to the fulfillment of certain conditions stipulated
in the agreement.

    InSightec reported that the funds would be used to
expand its research and development efforts, for marketing
and sales activities, and for general corporate purposes.

    InSightec's President and CEO Dr. Kobi Vortman said,
"The ExAblate(R) 2000 treatments of uterine fibroids
continue to grow globally with excellent clinical results
driving market adoption and with more than 50 leading sites
globally. In parallel InSightec is expanding the research
into oncology areas: bone metastases, prostate cancer,
breast cancer, liver tumors and brain tumors. InSightec has
received the European CE approval for pain palliation of
bone metastases based on clinical results demonstrating
that this technology has the potential to become an
important treatment alternative for this patient population
and also received from the FDA IDE approval for starting a
phase III clinical trial in the US for the treatment of
bone metastases. The investment will allow acceleration of
the technical and clinical research for oncology
applications providing improved care for patients around
the world.

    The continued support by our current investors is a
vote of confidence in the employees, the technology and the
vision, and we are proud in it."

    About InSightec 

    InSightec Ltd. is a privately held company owned by
Elbit Imaging, General Electric, MediTech Advisors, LLC and
employees. It was founded in 1999 to develop the
breakthrough MR guided Focused Ultrasound technology and
transform it into the next generation operating room.
Headquartered near Haifa, Israel, the company has over 150
employees and has invested more than $100 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 ExAblate

    The ExAblate(R) is the first system to use the
breakthrough MRgFUS technology that combines MRI -- to
visualize tissues in the body, plan the treatment and
monitor treatment outcome in real time -- and high
intensity focused ultrasound to thermally ablate tumors
inside the body non-invasively. MR thermometry, 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. ExAblate received FDA approval for the treatment of
symptomatic uterine fibroids in October 2004. ExAblate has
been recognized for its innovation and potential to serve
mankind and has been awarded the 2004 European Union's
Information Society Technologies grand prize, The Wall
Street Journal's 2004 Technology Innovation Awards,
Advanced Imaging's 2005 Solutions of the Year, the Red
Herring 100 Europe 2007 Award.


    Contact Information:

    InSightec Ltd.
    http://www.insightec.com/
    Tel:   [phone]
    Email: [e-mail]

    For media inquiries:
    Fern Lazar
    Lazar Partners, Ltd.
    Tel:   [phone]
    Email: [e-mail]