279:, the world leader in medical imaging; and in 1971, Elscint and General Electric signed an exclusive distribution agreement in North America. General Electric insisted that the product met its quality standards, forcing the young company to expand its technical capabilities and its manufacturing capabilities quickly. In 1972, in order to bring the company's products to world markets outside North America, Elscint opened its first international sales and marketing subsidiary in
363:, the world's first multi-slice (actually it was double-slice) CT scanner. This system could acquire two images with every rotation of the gantry, this was something no other scanner in the world at the time could do. After the Twin the company wished to create a 4 slice system, but this would require a totally new gantry design. In an effort to save time the company decided to sell the multi-slice detector design to
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267:. Elscint's first product in this field was a nuclear camera designed to detect cancer, but it failed commercially. Later, the company developed the VDP1, a gamma scanner used to monitor radioactive isotopes in the body. The product, sold at a price of $ 25,000 and was the first in the world with digital imaging capability.
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In the first half of the eighties
Elscint acquired several other companies and also expanded its product offering to nuclear cameras, ultrasound, digital and conventional X-ray equipment, thus providing products for all medical imaging technologies. In addition, the company began developing its own
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The company's sales began a steady growth, from $ 21 million in 1979 to $ 42 million in 1981. That year, Elscint, which by that time had provided more than 100 CT scanners to hospitals and research institutes around the world, acquired Pfizer's CT scanner business. Elscint's market share grow to 10
234:
of the words "electronic" and "scientific, but more likely of "El" as in "El Al", and "Scint", as in scintillation, referring to the type of radiation detector used in
Nuclear Medicine as in Elscint's first products.) was founded in 1969 by Dr. Avraham Suhami, who was a nuclear physics professor at
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in exchange for their gantry and table. This allowed
Siemens to enter into the multi-slice CT game and Elscint shorter to market time for the system that was to be known as the VolumeX. The VolumeX was never produced. By the time it was ready the company was sold to Picker and GE.
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systems. By 1983 the company had sales of $ 132 million and a net profit of $ 12.6 million. The company had more than 3,000 employees in factories, research and development facilities in Boston, England, Paris, Milan, Jerusalem, Haifa and
Chicago.
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The first product developed by the company was a nuclear measurement device for laboratory testing, but since the entire global market for the device was a few hundred units, which sold for $ 800 only, it was decided to refocus on the field of
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This VDP1 was the
Elscint's first commercial success, and helped the company to reach sales of a million dollars, with a loss of $ 25,000 at the end of first year of operation. The VDP1 product was displayed in trade show in
343:
In 1990 Elbit
Computers Ltd, a sister company of Elscint, and a subsidiary of Elron, acquired a majority share in Elscint. In 1996, Elbit Computers was spun off into three independent companies, one of them
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In 2005, Elscint was delisted and became a wholly owned subsidiary of Elbit
Medical Imaging. By that time, Elscint was no longer engaged in its original medical imaging equipment activities.
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By 1975, sales of gamma scanners and other products generated $ 12 million in revenue, and a profit of $ 400,000 for
Elscint, and Avraham Suhami decided to enter a new market -
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Following the acquisition in May 1999, Zisser integrated his existing real estate activities into the company and restructured Elbit
Medical Imaging as a
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at the time, after receiving encouragement to apply his scientific and technical knowledge for commercial applications from Uzia Galil, founder of
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became the holding company of
Elscint. During 1999 and 2000, Elscint and Elbit Medical Imaging sold their imaging activities to
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sold all its holdings in Elbit Medical Imaging to Europe Israel Ltd., formerly an Israeli company listed on the
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and controlled by real estate developer Mordechay (Moti) Zisser, for a sum of approximately $ 127.8 million.
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with an initial investment of 250.000 US dollars, Suhami was appointed as the company's CEO and
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Elbit Computers Ltd. announces acquisition of controlling interest in Elscint
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64-slice CT scanner originally developed by Elscint, now a Philips product
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was an Israeli technology company that developed, manufactured and sold
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equipment for the latest breakthrough in medical imaging at the time,
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Elbit sells off Elscint businesses through deals with Picker and GE
306:, making Elscint the first Israeli company to list on the NASDAQ.
205:. At its height, Elscint was a world leader in the development of
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600:
Elscint Enters Into Merger Agreement With Elbit Medical Imaging
298:, invested in Elscint and 1972 helped the company undertake an
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By 1996, Elscint's revenues reached $ 311 million. In 1999,
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The growth of venture capital: a cross-cultural comparison
390:, hotels development, shopping and entertainment malls.
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technologies. Most of Elscint's activities were sold to
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493:Elron's story - Technology Investment With Vision
322:scanner, which it started selling in 1977.
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576:"Elbit Medical Imaging - Company History"
259:at the time) was appointed as Chairman.
237:Technion – Israel Institute of Technology
197:scanners. Elscint's shares traded on the
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619:Medical technology companies of Israel
565:Diagnostic Imaging September 16, 1998
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437:, Diagnostic Imaging, March 18, 1998
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326:percent by the middle of the 1980s.
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534:edited by Dilek Çetindamar, p 277
469:"GE Healthcare Israel - About Us"
435:Elscint posts small gain for 1997
356:for approximately $ 600 million.
253:Discount Investment Corporation
520:Elscint Ltd. - Company history
1:
546:PR Newswire, January 5, 1990
359:In 1992, Elscint introduced
602:, PR Newswire, Aug. 22 2005
373:Elron Electronic Industries
47:; 55 years ago
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332:magnetic resonance imaging
275:and drew the attention of
191:magnetic resonance imaging
110:Magnetic resonance imaging
291:In 1971, Fred Adler, an
447:The 64 Slice CT Scanner
377:Tel-Aviv Stock Exchange
354:Philips Medical Systems
320:Computerized tomography
316:Computerized tomography
300:initial public offering
215:Philips Medical Systems
203:Tel Aviv Stock Exchange
127:US$ 311,000,000 (1996)
106:Computerized tomography
226:1969–1974: Early years
182:solutions, including:
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403:Elbit Medical Imaging
346:Elbit Medical Imaging
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139:US$ 8,100,000 (1996)
310:1975–1989: Expansion
251:(who was the CEO of
230:Elscint (perhaps a
188:computed tomography
145:Number of employees
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561:2012-03-11 at the
498:2010-06-18 at the
452:2016-03-10 at the
296:venture capitalist
201:as well as on the
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184:Nuclear medicine
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361:Elscint CT Twin
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582:on 2010-01-28
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84:Headquarters
22:Company type
17:Elscint Ltd.
388:real estate
273:Los Angeles
232:portmanteau
149:2000 (1996)
613:Categories
586:2010-12-18
479:2010-12-18
419:References
293:East Coast
255:parent of
134:Net income
114:Ultrasound
559:Archived
496:Archived
450:Archived
397:See also
102:Products
32:Industry
365:Siemens
352:and to
339:Breakup
302:on the
281:Belgium
221:History
176:Elscint
124:Revenue
68:Defunct
60:Founder
50: (
42:Founded
304:NASDAQ
199:NASDAQ
155:Parent
95:Israel
26:Public
408:Elron
257:Elron
245:Elron
241:Elron
195:X-ray
160:Elron
89:Haifa
235:the
213:and
193:and
79:sold
76:Fate
71:2005
52:1969
45:1969
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506:^
460:^
427:^
283:.
217:.
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482:.
54:)
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