Beyeonics, medical device spin-off of Elbit Systems, raises $ 36 million



HAIFA, Israel, October 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 round table for a total amount of $ 36 million. The funding round includes an investment in Beyeonics Surgical and Beyeonics Vision for a total amount of $ 26 million led by Italian investment fund TechWald Holding and Israeli investment fund Alive Israel HealthTech and with the participation of existing shareholders LR Group, XT Hi-Tech, Aurum Ventures and Mivtach Shamir; and one $ 10 million convertible loan to Beyeonics Vision by the global surgical ophthalmology company BVI Medical (“BVI”). Following the investment, Elbit Systems is a minority shareholder of Beyeonics Surgical and Beyeonics Vision.

Beyeonics Surgical and Beyeonics Vision are medical technology companies that aim to interface systems in operating rooms using augmented reality, image tracking and processing / AI platforms, providing surgeons with valuable information and decision advice while performing automatic tasks. The technology is designed to set a new standard of viewing and control 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 demonstrates the commercial potential of our technologies. We are proud to have created companies that take advantage of some of our unique technologies to dramatically improve the capabilities of operating room surgeons. We hope that this investment will allow Beyeonics Surgical and Beyeonics Vision to expand product development, to include surgical applications and accelerate commercialization. “

About Beyeonics Vision and Beyeonics Surgical:
Focused on ophthalmology, Beyeonics Vision is expected to begin marketing its Beyeonics â„¢ One product in the United States by the end of 2021, after more than 300 successful cataract and retinal surgeries performed in the United States and Israel. Beyeonics Surgical focuses on neurosurgery and orthopedic products, with pipeline applications that include minimally invasive surgery and surgical robotics. The companies take advantage of advanced 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-tech company engaged in a wide range of defense, homeland security and commercial programs around the world. The Company, which comprises 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, electronic warfare suites, signal intelligence systems, data links and communications systems, radios, cybernetic systems and ammunition. The Company is also focused on upgrading existing platforms, developing new technologies for defense, homeland security and commercial applications and providing a range of support services, including training systems. and simulation.

For more information visit: https://elbitsystems.com/, follow us on Twitter or visit our official Facebook, Youtube and LinkedIn channels.

Company contact:

Joseph gaspar, Executive Vice President and Chief Financial Officer

Phone. : + 972-4-8316663

[email protected]

Rami Myerson, Director, Investor Relations

Phone. : + 972-77-2948984

[email protected]

David Vaaknin, Vice-President, Brand and Corporate Communications

Phone. : + 972-77-2946691

[email protected]

Infrared contact:

Ehud Helft

Kenny Green

GK Investor Relations

Phone. : 1-646-201-9246

[email protected]

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 Israel’s Securities Act. Securities, 1968) concerning Elbit Systems Ltd. and / or its subsidiaries (collectively the Company), insofar as these 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 in accordance with 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 the Company. his activities. Therefore, actual future results, performance and trends may differ materially from these forward-looking statements due to various factors, including, without limitation: the scope and duration of customer contracts; government regulations and approvals; changes in government budget priorities; general market, political and economic conditions in the countries in which the Company operates or sells, including Israel and United States among others; changes in global health and macroeconomic conditions; differences in the planned and actual performance of the program, including the ability to execute 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 exhaustive and further information is contained in the latest annual report of Elbit Systems Ltd. on Form 20-F, which is filed with the United States Securities and Exchange Commission. All forward-looking statements speak only as of the date of this release. Although the Company believes that the expectations reflected in the forward-looking statements contained in this document are reasonable, it cannot guarantee future results, level of activity, performance or achievements. In addition, neither the Company nor any other person assumes responsibility for the accuracy and completeness of these forward-looking statements. The Company does not undertake to update its forward-looking statements.

Elbit Systems Ltd., its logo, brand, products, services and process names appearing in this press release are trademarks or service marks of Elbit Systems Ltd. or its affiliates. All other brand, product, service and process names appearing are the trademarks of their respective holders. Reference or use of a product, service or process other than those of Elbit Systems Ltd. does not imply the recommendation, endorsement, affiliation or sponsorship of this product, service or process by Elbit Systems Ltd. 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.

SOURCE Elbit Systems Ltd.

Related links

https://elbitsystems.com/



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