Elbit Imaging

Elbit Imaging Ltd., formerly Elbit Medical Imaging Ltd., is an Israeli holding company with activities in real estate, medical imaging, hotels, shopping malls, and retail.

Elbit Imaging Ltd.
Public (TASE: EMITF, NASDAQ: EMITF)
IndustryMedical imaging,
Real Estate, Hotels
Shopping Malls
Founded1996 (1996)
Headquarters
Tel-Aviv
,
Israel
Area served
Worldwide
Key people
Mordechai Zisser (Executive President),
Shimon Yitzhaki (Chairman)
ProductsMagnetic resonance,
RevenueUS$ 1,049.19 million (2008)
Number of employees
~2,000 (2008)
SubsidiariesPlaza Centers N.V., Insightec, Gamida Cell Ltd. , Elbit Trade and Retail Ltd.
Websiteelbitimaging.com

The company was founded as a spin-off from Elron Electronic Industries and Elbit, to develop and manufacture diagnostic systems and medical imaging devices; in 1999 Elbit Medical Imaging was sold to Europe-Israel Ltd., a company controlled by businessman Mordechai (Moti) Zisser, who turned it into a diversified holding company.[1]

History
See also: Elron Electronic Industries

The origins of Elbit Medical Imaging can be traced to 1990, when Elbit's medical arm, at the time a subsidiary of Elron, acquired a majority share in Elscint. Elscint was a company founded in 1969, which developed medical imaging equipment such as MRI and CT scanners. In 1996, Elbit was spun off into three independent companies, and Elbit Medical Imaging was created as separate NASDAQ listed company (ticker symbol:EMITF).[2]

During 1999 and 2000Elscint and Elbit Medical Imaging sold their imaging activities to GE Healthcare and to Picker (now Philips Medical Systems) for approximately $600 million.[2]

In 1999 Elron Electronic Industries sold all its holdings in Elbit Medical Imaging to Europe Israel Ltd., formerly an Israeli company listed on the Tel-Aviv Stock Exchange and controlled by real estate developer Mordechai (Moti) Zisser, for a sum of approximately $127.8 million.[1]

Following the acquisition in May 1999, Zisser integrated his existing real estate activities into the company and restructured Elbit Medical Imaging as a holding company, focusing on: real estate and hotels development, shopping and entertainment malls, industrial manufacturing and supply of components for the medical imaging; and venture capital investments in high-technology and bio-technology companies.[3]

In 2005 Elscint, which was the first Israeli company to be listed on NASDAQ in 1972, was delisted and became a wholly owned subsidiary of Elbit Medical Imaging. At that time, Elscint was no longer engaged in its original medical imaging equipment activities.

On November 1, 2006, Plaza Centers N.V., an indirect subsidiary of Elbit Imaging, was listed on the London Stock Exchange. The Company raised approximately £166 million of gross proceeds and its shares are traded under the ticker "PLAZ". On October 19, 2007 Plaza Centers N.V.s shares were also listed on the Warsaw Stock Exchange under the ticker "PLZ".[4]

In August 2007, Elbit Imaging sold its Arena Plaza Mall in Budapest, Hungary to Active Asset Investment Management (aAIM), a company chaired by Sir Alex Ferguson, for €400m. The mall was still under construction and was opened in November 2007 by Sir Alex.[5]

In November 2007 the company's name was changed from Elbit Medical Imaging Ltd. to Elbit Imaging Ltd.

In March 2014 Elbit Imaging Ltd, Announces talks of purchasing "Gamida Cell"

Major holdings

Shopping malls
  • Plaza Centers N.V. - a developer of shopping and entertainment centres in the Central and Eastern Europe region.

Hotels
  • The Company has 2,332 rooms in operating hotels, in the UK, Netherlands, Belgium and Romania.

Bio-tech and medical devices

Mega projects

Hi-tech
  • Olive Software Inc. (18.33% holding) - a leading provider of digital edition and digital archiving solutions for the publishing industry.
  • Easyrun Ltd. (47.79% holding), a provider of call centers software solutions.
  • Varcode Ltd. (31% holding) a provider of Smart-Barcode solutions for logistic food supply-chain.

Retail
  • Elbit Trade and Retail Ltd. - holds the Gap (clothing retailer) and Mango (clothing) franchises in Israel
gollark: I drink milk instead of water to avoid this problem.
gollark: This is why I inject water intravenously.
gollark: I need to tell nobody about this in case they leak it.
gollark: Hmmmmm.
gollark: The patch only updated the user profile management code.

See also

References
  1. "Elbit Medical Imaging Ltd. - EMI - Announces Closing of the Transaction for the Sale by Elron Electronics Industries Ltd. of its Holdings in EMI to Europe Israel Ltd", Business Wire, May 4, 1999
  2. Elron's story - Technology Investment With Vision, archived from the original on 2010-06-18, retrieved 2010-04-30
  3. Elbit Medical Imaging - Company History, archived from the original on 2010-01-28, retrieved 2010-04-30
  4. Plaza Centers - Group Overview, retrieved 2010-05-01
  5. Hodgson, Robert (12 November 2007), "Arena Plaza to open this week - City's biggest mall", The Budapest Times
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