InSightec, an ultrasound device manufacturer based in Israel, announced the successful completion of a Series C round of financing. Under GE Healthcare and several other investors, InSightec was able to raise $30.9 million.
In a press the release, the company also stated that James Davis, general manager and VP at InSightec, will serve as new CEO. Tom Gentile, who previously served as president and CEO at GE Healthcare, will serve as chairman of the board. Davis will be placed at InSightec’s new commercial offices based in Wisconsin.
In prepared remarks, Gentile said, "With this additional investment GE and the other investors have renewed their longstanding commitment to the future of InSightec and focused ultrasound technology.” He continued, “InSightec continues to demonstrate its leadership and ability to deliver clinically proven, safe and effective therapy systems and creating non-invasive acoustical surgery centers used by multi-disciplinary groups of physicians for multiple clinical disorders."
The company also received CE Mark approval in the European Union for its ExAblate Neuro, a focused ultrasound system that can destroy neural pathways that are implicated in movement disorders. Neurological disorders treated by the device include essential tremor, neuropathic pain and Parkinson’s disease. The device features high-accuracy targeting, real-time monitoring of treatments and a non-invasive brain treatment for those suffering from neurological disorders.