Elbit Systems launches MEDIGUIDE, a Medical Applications Company Based on innovative defense technology.Business/Medical & Technology Editors HAIFA, Israel--(BUSINESS WIRE)--Dec. 21, 2000 --Discount Capital Markets leads off $5 million investment round with an investment of $1 million-- Elbit Systems Elbit Systems Ltd. NASDAQ: ESLT is one of Israel's largest defense electronics manufacturers and integrators. Established in 1967, and based in Haifa, Israel, Elbit has over 8,000 employees. Ltd. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ESLTF) today announced the spin-off The situation that arises when a parent corporation organizes a subsidiary corporation, to which it transfers a portion of its assets in exchange for all of the subsidiary's capital stock, which is subsequently transferred to the parent corporation's shareholders. of MediGuide, a developer of medical technology applications for use in minimal invasive procedures Invasive procedure may refer to:
MediGuide develops technology and applications for intra-body navigation. Such technology enables physicians to perform minimal invasive procedures with great accuracy. The navigation of minimal invasive surgery Invasive surgery A form of surgery that involves making an incision in the patient's body and inserting instruments or other medical devices into it. Mentioned in: Laser Surgery tools (such as catheters, endoscopes and needles) within the patient's body is based on combining miniature sensors with 3D medical imaging and without the need for real time fluoroscopy fluoroscopy /flu·o·ros·co·py/ (fldbobr-ros´kah-pe) examination by means of the fluoroscope. fluo·ros·co·py n. Examination by means of a fluoroscope. Also called radioscopy. . Discount Capital Markets (DCM DCM abbr. Distinguished Conduct Medal ) leads off a $5 million round of investment in the new company by investing $1 million as a part of DCM's continuing strategy to invest in the life sciences arena. Professor Avi Ludomirski, head of Life Science Investments in DCM, estimates that the unique intra-body navigation technology developed at MediGuide will open up major potential markets worldwide. Professor Ludomirski stated that the cooperation of DCM with Elbit Systems is part of DCM's strategy for continuing to invest in the life science arena. The spin-off of MediGuide demonstrates Elbit Systems' strategy for establishing new ventures based on a combination of its defense technologies and strategic partners for various non-defense applications. MediGuide represents Elbit Systems' first venture into the medical science arena. Other non-defense applications of Elbit Systems' technology have been in the areas of electro-optic communications and space technology. Mr. Gera Strommer was named President of MediGuide. ABOUT ELBIT SYSTEMS LTD. Elbit Systems Ltd. is engaged in a wide range of defense-related airborne, ground and command, control and communications ("C3") programs throughout the world. The Company focuses on upgrading of existing military platforms and developing new technologies for defense application. |
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