Elbit Imaging Ltd., formerly Elbit Medical Imaging Ltd., is an Israeli

holding company A holding company is a company whose primary business is holding a controlling interest in the securities of other companies. A holding company usually does not produce goods or services itself. Its purpose is to own shares of other companies ...

with activities in

real estate Real estate is property consisting of land and the buildings on it, along with its natural resources such as crops, minerals or water; immovable property of this nature; an interest vested in this (also) an item of real property, (more genera ...

medical imaging Medical imaging is the technique and process of imaging the interior of a body for clinical analysis and medical intervention, as well as visual representation of the function of some organs or tissues (physiology). Medical imaging seeks to re ...

hotel A hotel is an establishment that provides paid lodging on a short-term basis. Facilities provided inside a hotel room may range from a modest-quality mattress in a small room to large suites with bigger, higher-quality beds, a dresser, a re ...

shopping mall A shopping mall (or simply mall) is a North American term for a large indoor shopping center, usually Anchor tenant, anchored by department stores. The term "mall" originally meant pedestrian zone, a pedestrian promenade with shops along it (that ...

s, and

retail Retail is the sale of goods and Service (economics), services to consumers, in contrast to wholesaling, which is sale to business or institutional customers. A retailer purchases goods in large quantities from manufacturing, manufacturers, dire ...

. The company was founded as a spin-off from Elron Electronic Industries and

Elbit Elbit Systems Ltd. is an Israel-based international defense electronics company engaged in a wide range of programs throughout the world. The company, which includes Elbit Systems and its subsidiaries, operates in the areas of aerospace, land ...

, 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.

History

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 an Israeli technology company that developed, manufactured and sold medical imaging solutions, including: Nuclear medicine, computed tomography magnetic resonance imaging and X-ray scanners. Elscint's shares traded on the NASDAQ as w ...

. 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 The Nasdaq Stock Market () (National Association of Securities Dealers Automated Quotations Stock Market) is an American stock exchange based in New York City. It is the most active stock trading venue in the US by volume, and ranked second ...

listed company (

ticker symbol A ticker symbol or stock symbol is an abbreviation used to uniquely identify publicly traded shares of a particular stock on a particular stock market. In short, ticker symbols are arrangements of symbols or characters (generally Latin letters ...

:EMITF). During 1999 and 2000 Elscint and Elbit Medical Imaging sold their imaging activities to

GE Healthcare GE HealthCare is a subsidiary of American multinational conglomerate General Electric incorporated in New York and headquartered in Chicago, Illinois. As of 2017, it is a manufacturer and distributor of diagnostic imaging agents and radiopharma ...

and to Picker (now

Philips Medical Systems Koninklijke Philips N.V. (), commonly shortened to Philips, is a Dutch multinational conglomerate corporation that was founded in Eindhoven in 1891. Since 1997, it has been mostly headquartered in Amsterdam, though the Benelux headquarters is ...

) for approximately $600 million. 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 The Tel Aviv Stock Exchange (TASE; ; colloquially known as The Bursa, ) is Israel's only public stock exchange and a public company that has been traded on the Tel-Aviv Stock Exchange since August 1, 2019. Legally, the exchange is regulated b ...

and controlled by real estate developer Mordechai (Moti) Zisser, for a sum of approximately $127.8 million. Following the acquisition in May 1999, Zisser integrated his existing real estate activities into the company and restructured Elbit Medical Imaging as a

, focusing on: real estate and hotels development, shopping and entertainment malls, industrial manufacturing and supply of components for the

; and

venture capital Venture capital (often abbreviated as VC) is a form of private equity financing that is provided by venture capital firms or funds to startups, early-stage, and emerging companies that have been deemed to have high growth potential or which ha ...

investments in high-technology and bio-technology companies. 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 London Stock Exchange (LSE) is a stock exchange in the City of London, England, United Kingdom. , the total market value of all companies trading on LSE was £3.9 trillion. Its current premises are situated in Paternoster Square close to St Pau ...

. 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 The Warsaw Stock Exchange (WSE), pl, Giełda Papierów Wartościowych w Warszawie, is a stock exchange in Warsaw, Poland. It has a market capitalization of PLN 1.05 trillion (EUR 232 billion; as of December 23, 2020). The WSE is a member of th ...

under the ticker "PLZ". In August 2007, Elbit Imaging sold its Arena Plaza Mall in

Budapest Budapest (, ; ) is the capital and most populous city of Hungary. It is the ninth-largest city in the European Union by population within city limits and the second-largest city on the Danube river; the city has an estimated population ...

Hungary Hungary ( hu, Magyarország ) is a landlocked country in Central Europe. Spanning of the Carpathian Basin, it is bordered by Slovakia to the north, Ukraine to the northeast, Romania to the east and southeast, Serbia to the south, Croatia a ...

to Active Asset Investment Management (aAIM), a company chaired by

Sir Alex Ferguson Sir Alexander Chapman Ferguson (born 31 December 1941) is a Scottish former football manager and player, best known for managing Manchester United from 1986 to 2013. He is widely regarded as one of the greatest football managers of all tim ...

, for €400m. The mall was still under construction and was opened in November 2007 by Sir Alex. 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

Insightec INSIGHTEC Ltd., is a privately held medical device company that sells High-intensity focused ultrasound, MR guided Focused Ultrasound equipment. The technology can destroy deep tissue in the body without the need for incisions. The company's propr ...

Ltd. * Gamida Cell Ltd.

Mega projects

* Casa Radio ( Dâmboviţa Center),

Bucharest Bucharest ( , ; ro, București ) is the capital and largest city of Romania, as well as its cultural, industrial, and financial centre. It is located in the southeast of the country, on the banks of the Dâmbovița River, less than north of ...

, Romania * Dream Island,

, Hungary

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.

Retail

* Elbit Trade and Retail Ltd. - holds the

Gap (clothing retailer) The Gap, Inc., commonly known as Gap Inc. or Gap (stylized as GAP), is an American worldwide clothing and accessories retailer. Gap was founded in 1969 by Donald Fisher and Doris F. Fisher and is headquartered in San Francisco, California. The c ...

and

Mango (clothing) Punto Fa, S.L., trading as Mango, is a Spanish clothing design and manufacturing company, founded in Barcelona, Spain by brothers Isak Andic and Nahman Andic. It designs, manufactures and markets women's and men's clothing and accessories. His ...

franchises in Israel

References

{{TA 100 companies Medical technology companies of Israel Medical imaging Investment companies of Israel Companies listed on the Nasdaq