Elbit Medical Technologies

Tel Aviv Stock Exchange: EMTC

NIS227.8m market cap

NIS0.98 last close

Elbit Medical Technologies is an Israeli biomedical and healthcare technology group. Its portfolio of two companies is focused on medical devices and therapeutics: InSightec, which develops and markets the ExAblate platform for non-invasive thermal tissue ablation, and Gamida Cell, which is developing a universal bone marrow transplant.

Investment summary

Elbit Medical Technologies is an Israel-based healthcare investment company. The company holds a ~22% (~18.5% fully diluted) stake in InSightec, a commercial-stage medical device company. InSightec’s ExAblate uses MRI and high-intensity focused ultrasound to perform precise and incisionless thermal tissue ablation. ExAblate has achieved FDA and CE approval for three distinct indications, with revenues of $32.1m for FY17. The company is also invested in Gamida Cell (~11%), which is developing NiCord, a product derived from umbilical cord blood (UCB) stem cells, for the treatment of high-risk haematological malignancies. Enrolment is underway for a Phase III study with enrolment expected to be complete in H219. Gamida Cell recently went public on the NASDAQ, raising $53m.

Y/E Dec
Revenue (US$m)
EBITDA (US$m)
PBT (US$m)
EPS (c)
P/E (x)
P/CF (x)
2016A 0.0 (0.6) (3.7) 0.0 N/A N/A
2017A 0.0 (0.7) (5.2) 0.0 N/A N/A
2018E N/A N/A N/A N/A N/A N/A
2019E N/A N/A N/A N/A N/A N/A
Last updated on 20/02/2019
Industry outlook

Elbit Medical Technologies is invested in the healthcare sector through its holdings in two companies that are developing medical device and therapeutic technologies.

Last updated on 20/02/2019
Sector
Healthcare
Share price graph
Balance sheet
Forecast net debt (US$m) N/A
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual (1.1) (12.8) (17.0)
Relative* (4.9) (12.0) (21.1)
52-week high/low NIS1.2/NIS0.9
*% relative to local index
Key management
Yael Edri CFO