TEL AVIV, Israel, April 16, 2015 /PRNewswire/ --
Elbit Imaging Ltd. (TASE, NASDAQ: EMITF) ("Elbit" or the
"Company") announced today following the Company's announcement
dated October 5, 2014 that it was
informed by InSightec Ltd. ("InSightec"), that following a change
in the insurance coverage policy of Health Care Service
Corporation, Blue Cross Blue Shield North Carolina ("BCBS NC") and
Horizon Blue Cross Blue Shield of New
Jersey ("BCBS NJ") have published updates to their Magnetic
Resonance Imaging-guided Focused Ultrasound (MRgFUS) coverage
policy and are now providing coverage to MRgFUS procedure for
patients suffering from pain associated with bone metastases.
InSightec estimates that such favorable policy update will make
available to the members of BCBS NC and BCBS NJ treatments for
painful bone metastases using InSightec's ExAblate® procedure as a
treatment option cleared by the Food and Drug Administration
(FDA).
BCBS NC and Horizon BCBS NJ provide benefits to more than 3.8
million members combined.
The Company holds approximately 82.7% of the share capital of
Elbit Medical Technologies Ltd. ("Elbit Medical") (TASE:
EMTC-M) (on a fully diluted basis) which, in turn, holds
approximately 30% of the share capital in InSightec (on a fully
diluted basis).
About Elbit Imaging Ltd.
Elbit Imaging Ltd. operates in the following principal fields of
business: (i) Commercial and Entertainment Centers - Initiation,
construction and sale of shopping and entertainment centers and
other mixed-use real property projects, predominantly in the retail
sector, located in Central and Eastern
Europe and in India,
primarily through its subsidiary Plaza Centers N.V. In certain
circumstances and depending on market conditions, we operate and
manage commercial and entertainment centers prior to their sale;
(ii) Hotels - Hotel operation and management; (iii) Medical
Industries - (a) research and development, production and marketing
of magnetic resonance imaging guided focused ultrasound treatment
equipment and (b) development of stem cell population expansion
technologies and stem cell therapy products for transplantation and
regenerative medicine; and (iv) Residential Projects - Initiation,
construction and sale of residential projects and other mixed-use
real property projects, predominately residential, located
primarily in India.
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995
Any forward-looking statements in our releases include
statements regarding the intent, belief or current expectations of
Elbit Imaging Ltd. and our management about our business, financial
condition, results of operations, and its relationship with its
employees and the condition of our properties. Words such as
"believe," "would," "expect," "intend," "estimate" and similar
expressions are intended to identify forward-looking statements but
are not the exclusive means of identifying such statements. Actual
results may differ materially from those projected, expressed or
implied in the forward-looking statements as a result of various
factors including, without limitation, the failure of the Rights
Offering to receive requisite regulatory approvals and the factors
set forth in our filings with the Securities and Exchange
Commission including, without limitation, Item 3.D of our annual
report on Form 20-F for the fiscal year ended December 31, 2013, under the caption "Risk
Factors." Any forward-looking statements contained in our releases
speak only as of the date of such release, and we caution existing
and prospective investors not to place undue reliance on such
statements. Such forward-looking statements do not purport to be
predictions of future events or circumstances, and therefore, there
can be no assurance that any forward-looking statement contained
our releases will prove to be accurate. We undertake no
obligation to update or revise any forward-looking
statements.
For Further Information:
Company Contact:
Ron Hadassi
Chairman of the Board of Directors
Tel: +972-3-608-6048
Fax: +972-3-608-6050
ron@elbitimaging.com
SOURCE Elbit Imaging Ltd.