Elbit Imaging Ltd. (Nasdaq: EMITF; TASE: EMIT) subsidiary InSightec Ltd. has obtained approval of its ExAblate MR-guided Focused Ultrasound (MRgFUS) system for the treatment of women with uterine fibroids from Japan's Ministry of Health, Labor and Welfare. ExAblate is currently the only noninvasive treatment for uterine fibroids approved for use in Japan.
Elbit Imaging Dudi Machluf co-CEO said, "InSightec's technology is the first non-invasive treatment for uterine fibroids approved for use by Japan's Ministry of Health, an accomplishment which speaks for itself. In receiving this approval, InSightec made significant progress towards increasing its activity in Japan and receiving reimbursement."
InSightec estimates that approximately 25% of Japanese women will develop symptomatic uterine fibroids, primarily during childbearing years. These benign tumors can significantly impair functionality and degrade quality of life, resulting in significant work absences.
ExAblate obtained EU CE Mark certification in October 2002 and US Food and Drug Administration (FDA) approval in 2004.
Elbit Imaging's share closed at $23.04 on Nasdaq yesterday, giving a market cap of $586 million. The share rose 1.5% in morning on the TASE today to NIS 86.32.
Published by Globes [online], Israel business news - www.globes-online.com - on January 14, 2010
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