MEDIA RELEASE PR38004
InSightec Announces India Distribution Agreement with Kirloskar
TIRAT CARMEL, Jan. 26 / PRNewswire-AsiaNet/ --
- Kirloskar to Distribute ExAblate(R) 2000 Non-Invasive Magnetic
Resonance-guided Focused Ultrasound Systems Throughout the Country
InSightec Ltd. today announced that it has signed a distribution
agreement with Kirloskar, the leading distributor of radiation therapy
equipment in India. Kirloskar will serve as a distributor of InSightec's
products in India, working together with InSightec and GE Healthcare to
promote non-invasive Magnetic Resonance-guided Focused Ultrasound (MRgFUS)
technology and products to leading healthcare institutes throughout the
country.
"This partnership expresses the importance of the Indian
market," said Dr. Kobi Vortman, InSightec's president and CEO. "With India
taking its place as one of the leading economies in the global market,
enormous opportunities exist there. We believe that with its long and
established presence in the region, Kirloskar is the ideal partner to help us
maximize success in this important country. This agreement also emphasizes
our increasing focus on the worldwide oncology market where we believe
ExAblate has the potential to play a key role."
ExAblate enables physicians to perform noninvasive procedures
that are an alternative to some of the current surgical and radiation
procedures - without the use of a scalpel. Noninvasive procedures offer
numerous benefits over conventional surgery, including a reduced chance of
infection, fewer adverse events and significantly faster recoveries.
Mr. Amardeep Sethi, CEO, Kirloskar Technologies (P) Ltd.
(KTPL) said "As a part of our business policy, we are always more than keen
to add promising new medical technologies to our product portfolio. I am sure
that with the support of KTPL's efficient sales and service team, ExAblate
2000 will soon become a well established treatment modality in India,
offering a completely noninvasive treatment option with minimum
post-treatment hospitalization and quicker return to daily routine".
The Indian Healthcare market, currently estimated at
approximately $35 billion, is predicted to grow between 10 to 15 percent per
year, reaching $150 billion by 2017. In addition to increasing domestic
consumption of healthcare, due in part to the expected doubling of the
nation's insured population, the market is expected to be complemented by an
inflow of medical tourism. With an average treatment cost of one-eighth to
one-fifth of those in western countries, Indian medical tourism has increased
20-fold from 10,000 in the year 2000 to about two million in 2006.
Over 5,500 patients worldwide have already benefited from the
ExAblate treatment which is the only U.S. Food and Drug Administration
(FDA)-approved system currently in use for the treatment of uterine fibroids.
The ExAblate system uses the breakthrough MRgFUS technology that combines MRI
-- to visualize tissues in the body, plan the treatment and monitor, in real
time, treatment outcome -- and high intensity focused ultrasound to thermally
ablate tissue. MR thermal feedback, provided uniquely by the system, allows
the physician to control and adjust the treatment in real time to ensure that
the targeted tumor is fully treated and surrounding tissue is spared.
ExAblate received the CE Mark for uterine fibroids in October 2002 and FDA
approval for the treatment of symptomatic uterine fibroids in October 2004
and received CE mark for the treatment of pain caused by bone metastases in
June 2007.
About Kirloskar Technologies Pvt. Ltd. (KTPL)
Kirloskar Technologies Pvt. Ltd. (KTPL) is today one of the
leading suppliers of high-tech medical equipments in India. It is part of the
100-year-old Kirloskar Group.
With over 250 installations in 175 major government hospitals,
medical colleges and private hospitals, KTPL's business philosophy revolves
around providing solutions to customer hospitals. For this, KTPL has a large
number of trained personnel in its service, providing quick, high quality and
cost-effective solutions to client hospitals. For more information about
About InSightec
InSightec Ltd. is a privately-held company owned by Elbit
Imaging, General Electric, MediTech Advisors, LLC and employees. It was
founded in 1999 to develop the breakthrough MR guided Focused Ultrasound
technology and transform it into the next generation operating room.
Headquartered near Haifa, Israel, the company has over 160 employees and has
invested more than $130 million in research, development, and clinical
investigations. Its U.S. headquarters are located in Dallas, Texas. For more
Media Contact:
Hollister Hovey
Lazar Partners
+1-646-871-8482
hhovey@lazarpartners.com
SOURCE: InSightec Ltd
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