InSightec, an Israel-based medical device producer backed by industrial and household goods producer General Electric and holding company Elbit Imaging, has raised $22m in additional series D funding from its existing shareholders.
In addition to Elbit and General Electric, which had previously invested through its GE Healthcare unit, InSightec’s other backers include York Capital Management, GEOC Hengtong Investment Limited Partnership and MediTech Advisors.
Founded in 1999 with technology transferred from GE and Elbit Medical Imaging, InSightec has developed a non-invasive therapy platform that uses focused ultrasound to treat neurosurgical, oncological and gynaecological conditions.
The funding was disclosed as Maurice R. Ferré, InSightec’s chairman, assumed the CEO position at the company.
InSightec had already raised more than $155m in funding, including $59m in a 2014 series D round featuring institutional investors from the US and Asia, in which York Capital invested $50m.
GE Healthcare invested in InSightec in 2007 as part of a $30m round also including Elbit Imaging and MediTech, and provided $27.6m of the $30.9m the company secured in its 2012 series C round.