Elbit Imaging Ltd. (OTC PINK: EMITF) was founded in 1996, formerly known as Elbit Medical Imaging Ltd., changed to its current name in November 2007, headquartered in Petach Tikva, Israel, with 16 full-time employees, and its subsidiaries in India, Central and Eastern Europe are engaged in the medical industry and land sales business.
Elbit Imaging Ltd. (EMITF):
Elbit Imaging Ltd. is an Israeli holding company with businesses in real estate, medical imaging, hotels, shopping malls and retail.
Elbit Imaging is a spin-off of Elron Electronic Industries and Elbit, and is engaged in the development and manufacture of diagnostic systems and medical imaging equipment; in 1999, Elbit Medical Imaging was sold to Europe-Israel Ltd, a company controlled by the businessman Mordechai (Moti) Zisser . The latter turned it into a diversified holding company.
Elbit Imaging is involved in the research, development, production and marketing of treatment-oriented medical systems, including magnetic resonance imaging for non-invasive treatment in humans; and products designated for certain cancer diseases.
Elbit Imaging Ltd. (EMITF) assets:
1. Shopping Plaza
- Plaza Centers NV-a developer of shopping and entertainment centers in Central and Eastern Europe.
- The company has 2,332 operating hotel rooms in the United Kingdom, the Netherlands, Belgium and Romania.
3. Biotechnology and medical equipment
- Insightec Ltd.
- Gamida Cell Ltd.
4. Large complex
- Casa Radio (Dâmboviţa Center), Bucharest, Romania
- Dream Island, Budapest, Hungary
- Olive Software Inc. (18.33% equity)-a leading provider of digital edition and digital archiving solutions for the publishing industry.
- Easyrun Ltd. (47.79% equity)-call center software solutions provider.
- Varcode Ltd. (31% equity)-a supplier of smart barcode solutions for the logistics food supply chain.
- Elbit Trade and Retail Ltd.-Holds Gap (clothing retailer) and Mango (clothing) franchise rights in Israel .
Elbit Imaging Ltd. (EMITF) History:
- The history of Elbit Medical Imaging can be traced back to the 1990s, when Elbit’s medical subsidiary Elron acquired most of Elscint’s shares. Elscint is a company founded in 1969 that has developed medical imaging equipment such as MRI and CT scanners. In 1996, Elbit was split into three independent companies, and Elbit Medical Imaging was created as an independent Nasdaq listed company (stock code: EMITF).
- Between 1999 and 2000, Elscint and Elbit Medical Imaging sold their imaging business to GE Healthcare and Picker (now Philips Medical Systems) for approximately $600 million .
- In 1999, Elron Electronic Industries sold all its shares in Elbit Medical Imaging to Europe Israel Ltd., an Israeli company listed on the Tel Aviv Stock Exchange, controlled by real estate developer Mordechai (Moti) Zisser with a total value of approximately For 127.8 million US dollars.
- After the acquisition in May 1999, Zisser integrated his existing real estate activities into the company and reorganized Elbit Medical Imaging as a holding company, focusing on: real estate and hotel development, shopping and entertainment malls, industrial manufacturing and medical component supply Imaging; and venture capital investments in high-tech and biotech companies.
- In 2005, Elscint-the first (1972) Israeli company listed on the Nasdaq-was delisted and became a wholly-owned subsidiary of Elbit Medical Imaging. Elscint no longer engages in its original medical imaging equipment activities.
- On November 1, 2006, Plaza Centers NV, an indirect subsidiary of Elbit Imaging, was listed on the London Stock Exchange. The company has raised approximately 166 million pounds and its shares are traded under the symbol “PLAZ”.
- On October 19, 2007, the shares of Plaza Centers NV were also listed on the Warsaw Stock Exchange under the ticker symbol “PLZ”.
- In August 2007, Elbit Imaging sold its Arena Plaza Mall in Budapest, Hungary to Active Asset Investment Management (aAIM) chaired by Sir Alex Ferguson for 400 million Euros. The mall was still under construction at the time and opened in November 2007.
- In November 2007, the company name was changed from Elbit Medical Imaging Ltd. to Elbit Imaging Ltd..
- In March 2014, Elbit Imaging Ltd announced the acquisition of Gamida Cell.