Medtech Insight is part of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call +44 (0) 20 3377 3183

Printed By


Elbit Medical Imaging Ltd

This article was originally published in The Gray Sheet

Executive Summary

Israeli firm decides to scuttle a proposed merger with publicly traded subsidiary Elscint Ltd. As outlined in a Feb. 18 proposal, Elbit was to acquire the roughly 43% (7 mil. shares) of Elscint that it did not already own at $14 per share, or $98.2 mil. (1"The Gray Sheet" Feb. 22, p. 12). Elscint received a letter from a committee of Elbit independent directors stating that the proposed business combination "would not be in the best interests of shareholders." Elscint says its board "is in the late stages of a long-term process of evaluating various alternatives to increase shareholder value"

You may also be interested in...


Combination of Elbit Medical Imaging Ltd. with its publicly traded Elscint Ltd. subsidiary is outlined in a $14-per-share acquisition proposal announced Feb. 18. Under the terms of the $98.2 mil. deal, Elbit will acquire the roughly 7 mil. Elscint shares not currently owned by Elbit, or roughly 43% of the company. The $14-per-share price represents a 21% premium over Elscint's Feb. 17 closing price of 11-9/16. Haifa, Israel-based Elscint, developer of computer-based medical imaging systems, divested its nuclear medicine and magnetic resonance medical imaging businesses to General Electric's GE Medical Sytems division for $100 mil. in November. Sold simultaneously for $269.5 mil. was Elscint's computed tomography division, which went to Picker International, a subsidiary of U.K.-based General Electric Company, plc

Pandemic Response In US Consumer Health Market: OTC Pain Relief And Cough/Cold Purchases

Pain relief product sales grew 27% and upper respiratory sales 35% for the week ended 7 March as consumers respond to COVID-19, according to Nielsen data noted in a Jefferies report on consumer health purchasing trends. Private label market share is up slightly, while OTC purchases continue primarily in conventional stores.

venBio Raises $394m To Fund Biopharmas Through Human Proof-Of-Concept

Managing partner Corey Goodman said venBio didn’t have trouble closing its fund, because the venture capital firm prepared its investors for an economic downturn months ago.




Ask The Analyst

Please Note: You can also Click below Link for Ask the Analyst
Ask The Analyst

Your question has been successfully sent to the email address below and we will get back as soon as possible. my@email.address.

All fields are required.

Please make sure all fields are completed.

Please make sure you have filled out all fields

Please make sure you have filled out all fields

Please enter a valid e-mail address

Please enter a valid Phone Number

Ask your question to our analysts