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Stock Market & Financial Investment News

News Breaks
December 9, 2012
16:50 EDTGE, EMITFElbit Imaging announces the closing of GE's investment in InSightec
Elbit Imaging (EMITF) announced that on December 6, the closing of the transaction among Elbit Medical Technologies (in which the Company holds approximately 90% of the outstanding shares of stock), InSightec (in which Elbit Medical holds approximately 64% of the outstanding shares of stock, and 52.15% on a fully diluted basis), GE Healthcare (GE) and certain other shareholders of InSightec, which had been announced on October 11, had occurred. At the closing, the Parties have agreed to reduce the Other Investors' investment amount to $3.3M instead of $3.9M, and to set the expiration date for Elbit Medical's option to purchase Preferred C Shares of InSightec (directly or by a third party approved by GE) on December 25.
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