HAIFA, Israel, Oct. 3, 2021 /PRNewswire/ -- Elbit Systems
Ltd. (NASDAQ: ESLT and TASE: ESLT) ("Elbit Systems") announced
today that its subsidiaries, Beyeonics Surgical Ltd. ("Beyeonics
Surgical") and Beyeonics Vision Ltd. ("Beyeonics Vision"),
concluded a financing round in an aggregate amount of $36 million. The financing round is comprised of
an investment in Beyeonics Surgical and Beyeonics Vision in an
aggregate amount of $26 million led
by the Italian investment fund TechWald Holding and the Israeli
investment fund Alive Israel HealthTech and with participation of
the existing shareholders LR Group, XT Hi-Tech, Aurum Ventures and
Mivtach Shamir; and a $10 million
convertible loan to Beyeonics Vision by global surgical ophthalmic
company BVI Medical ("BVI"). Following the investment, Elbit
Systems is a minority shareholder in Beyeonics Surgical and
Beyeonics Vision.
Beyeonics Surgical and Beyeonics Vision are medical technology
companies that aim to interface the systems in operating rooms
using augmented reality, tracking and image processing/AI
platforms, providing surgeons with valuable information and
decision guidance while performing automatic tasks. The technology
is designed to establish a new visualization and control standard
in operating rooms by creating an integrated work environment.
Bezhalel (Butzi) Machlis, President and CEO of Elbit
Systems, commented: "The completion of an additional financing
round attests to the commercial potential of our technologies. We
are proud to have spun off companies that leverage some of our
unique technologies to materially enhance surgeons' capabilities in
the operating room. We hope this investment will enable Beyeonics
Surgical and Beyeonics Vision to expand product development, to
include additional surgical applications and to accelerate
commercialization."
About Beyeonics Vision and Beyeonics Surgical:
Focused
on Ophthalmology, Beyeonics Vision is planned to begin
commercializing its product Beyeonics™ One in the U.S. by the end
of 2021, following more than 300 successful cataract and retina
surgeries performed in the U.S. and Israel. Beyeonics Surgical is focused on
Neurosurgery and Orthopedics products, with pipeline applications
that include minimally invasive surgery and surgical robotics. The
companies leverage cutting-edge imaging and head-mounted display
(HMD) technologies originally developed by Elbit Systems for
aerospace applications.
About Elbit Systems
Elbit Systems Ltd. is an
international high technology company engaged in a wide range of
defense, homeland security and commercial programs throughout the
world. The Company, which includes Elbit Systems and its
subsidiaries, operates in the areas of aerospace, land and naval
systems, command, control, communications, computers, intelligence
surveillance and reconnaissance ("C4ISR"), unmanned aircraft
systems, advanced electro-optics, electro-optic space systems, EW
suites, signal intelligence systems, data links and communications
systems, radios, cyber-based systems and munitions. The Company
also focuses on the upgrading of existing platforms, developing new
technologies for defense, homeland security and commercial
applications and providing a range of support services, including
training and simulation systems.
For additional information, visit: https://elbitsystems.com/,
follow us on Twitter or visit our official Facebook, Youtube and
LinkedIn Channels.
Company
Contact:
Joseph Gaspar,
Executive VP & CFO
Tel:
+972-4-8316663
j.gaspar@elbitsystems.com
Rami Myerson,
Director, Investor Relations
Tel:
+972-77-2948984
rami.myerson@elbitsystems.com
David Vaaknin,
VP, Brand & Corporate Communications
Tel:
+972-77-2946691
david.vaaknin@elbitsystems.com
|
IR
Contact:
Ehud
Helft
Kenny
Green
GK Investor
Relations
Tel:
1-646-201-9246
elbitsystems@gkir.com
|
This press release may contain forward–looking statements
(within the meaning of Section 27A of the Securities Act of 1933,
as amended, Section 21E of the Securities Exchange Act of 1934, as
amended and the Israeli Securities Law, 1968) regarding Elbit
Systems Ltd. and/or its subsidiaries (collectively the Company), to
the extent such statements do not relate to historical or current
facts. Forward-looking statements are based on management's current
expectations, estimates, projections and assumptions about
future events. Forward–looking statements are made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform
Act of 1995, as amended. These statements are not guarantees of
future performance and involve certain risks,
uncertainties and assumptions about the Company, which are
difficult to predict, including projections of the Company's future
financial results, its anticipated growth strategies and
anticipated trends in its business. Therefore, actual future
results, performance and trends may differ materially from these
forward–looking statements due to a variety of factors, including,
without limitation: scope and length of customer contracts;
governmental regulations and approvals; changes in governmental
budgeting priorities; general market, political and economic
conditions in the countries in which the Company operates or sells,
including Israel and the United States among others; changes in
global health and macro-economic conditions; differences in
anticipated and actual program performance, including the ability
to perform under long-term fixed-price contracts; changes in the
competitive environment; and the outcome of legal and/or regulatory
proceedings. The factors listed above are not all-inclusive,
and further information is contained in Elbit Systems Ltd.'s latest
annual report on Form 20-F, which is on file with the U.S.
Securities and Exchange Commission. All forward–looking statements
speak only as of the date of this release. Although the Company
believes the expectations reflected in
the forward-looking statements contained herein are
reasonable, it cannot guarantee future results, level of activity,
performance or achievements. Moreover, neither the Company nor any
other person assumes responsibility for the accuracy and
completeness of any of these forward-looking statements.
The Company does not undertake to update its forward-looking
statements.
Elbit Systems Ltd., its logo, brand, product, service and
process names appearing in this Press Release are the trademarks or
service marks of Elbit Systems Ltd. or its affiliated
companies. All other brand, product, service and process
names appearing are the trademarks of their respective
holders. Reference to or use of a product, service or process
other than those of Elbit Systems Ltd. does not imply
recommendation, approval, affiliation or sponsorship of that
product, service or process by Elbit Systems Ltd. Nothing contained
herein shall be construed as conferring by implication, estoppel or
otherwise any license or right under any patent, copyright,
trademark or other intellectual property right of Elbit Systems
Ltd. or any third party, except as expressly granted herein.
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SOURCE Elbit Systems Ltd.