GE Healthcare, the health division of General Electric, reportedly backed portfolio company Insightec Image Guided Treatment with a $13.75m convertible loan in February.
The loan bears 6% interest and could be converted into equity at the price of the next investment round of the company, or when the loan matures in 2016, news provider Globes said.
GE Healthcare last invested in Insightec in 2008, and General Electric has held investments in the company via its GE Capital financial unit, Globes said.
In 2009 Insightec raised $15m from Nasdaq-listed holding company Elbit Imaging, with $7.5m invested then, and another $7.5m promised within 12 months.
InSightec raised $30m from Elbit Imaging, GE Capital Equity and venture firm MediTech Advisors in 2007. Insightec was founded in 1999 when GE Healthcare (then GE Medical Systems) and Elbit Medical Imaging transferred their technology to the company. Since then, InSightec has invested more than $100 million in research and development, according to Insightec’s website.