Elbit Medical Technologies

Tel Aviv Stock Exchange: EMTC

NIS199.1m market cap

NIS0.86 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 (~7%), which is developing omidubicel (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 by the end of 2019 with data in H120.

Y/E Dec
Revenue (US$m)
EBITDA (US$m)
PBT (US$m)
EPS (c)
P/E (x)
P/CF (x)
2017A 0.0 (0.7) (5.2) 0.0 N/A N/A
2018A 35.0 34.0 26.8 0.12 204.8 12.6
2019E N/A N/A N/A N/A N/A N/A
2020E N/A N/A N/A N/A N/A N/A
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 04/12/2019
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 (6.1) 14.7 (20.4)
Relative* (6.7) 5.9 (26.8)
52-week high/low NIS1.1/NIS0.7
*% relative to local index
Key management
Yael Edri CFO