Aryt Signed Agreement with Sygmed, Ltd., Acquiring 20% of Its Outstanding Shares for the Sum of 750 Thousand USD.Business Editors TEL AVIV Tel Aviv (tĕl əvēv`), city (1994 pop. 355,200), W central Israel, on the Mediterranean Sea. Oficially named Tel Aviv–Jaffa, it is Israel's commercial, financial, communications, and cultural center and the core of its largest , Israel--(BUSINESS WIRE)--Oct. 11, 2000 Aryt Industries Ltd. ("Aryt" or the Company") (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ARYTF) announced today that an Agreement was signed between Sygmed, Ltd. (henceforth "Sygmed"), for an investment of 750 thousand USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. by the Company in exchange for and against 2,819,500 shares, par value 0.01 NIS Niš or Nish (both: nēsh), city (1991 pop. 175,391), SE Serbia, on the Nišava River. An important railway and industrial center, it has industries that manufacture textiles, electronics, spirits, and locomotives. each, which Sygmed will issue in a private offering. After this issue is completed, Aryt will hold 20% of all Sygmed's outstanding shares. In addition, the Company is being given the option of increasing its share holdings in Sygmed, to 35% of the outstanding shares, including Sygmed's (according to the composition of the shares at the time of the closing of the deal), against an additional investment of 750 thousand USD within 12 months from closing the agreement, and to 40% of the outstanding shares, including Sygmed's (according to the composition of the shares at the time of the closing of the deal), against an additional investment of 500 thousand USD within 24 months from closing the deal. Sygmed is involved in the development, manufacture and marketing of medical robotic systems, designed for early detection of breast cancer. Sygmed's flagship product is Robolite, a computerized stereotactic biopsy Stereotactic biopsy A biopsy taken by precisely locating areas of abnormal growth through the use of delicate instruments. Mentioned in: Fibrocystic Condition of the Breast stereotactic biopsy system, operating on a mammography mammography, diagnostic procedure that uses low-dose X rays to detect abnormalities in the breasts. The early diagnosis of breast cancer made possible by the routine use of mammography for screening women increases a woman's treatment alternatives and improves her X-ray machine, which automatically brings the biopsy needle biopsy needle Surgery A thin–'skinny' needle passed percutaneously into an organ, often liver and kidney to obtain tissue for evaluation by light microscopy to the exact location for the biopsy. The uniqueness of the Robolite system is that it can be operated on all existing mammography machines throughout the world, it is easy to operate, and it incompatible with all new and existing biopsy methods. Sygmed's main markets are South America, United States, China and Europe. Sygmed's technology allows for implementation in other computerized biopsy areas, and robotic systems in the general and plastic surgery fields. Aryt's investment in Sygmed's constitutes the Company's entrance into the medical fields. Finalizing the agreement is dependent on receiving all approvals required by law. Aryt Industries Ltd. is an Israeli investment and holding company, retaining developing companies in different fields involved in industrial technologies, through its holdings Voice Diary (18%), Sensotech (25%), OfficeCore (30%), and specialized technological companies involved in military defence. |
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