Insightec Appoints New Board Chairman

There’s a new leader on board at Insightec Ltd.

The company recently appointed Maurice R. Ferré, M.D., a seasoned medical device executive, as executive board chairman. Ferré has more than 20 years of experience in the medical device industry, most recently serving as chairman and CEO of Mako Surgical Corp., a transformational robotic surgical company that he co-founded in 2004, went public in 2008 and sold to Stryker Corp. for $1.65 billion in late 2013.

“I am very excited to be part of the company transforming the way surgery is being performed. Insightec is at the forefront of the global shift towards non-invasive surgery that has the potential to improve patient outcomes, reduce morbidity and trauma while also reducing cost. I am impressed the company completed enrollment of an FDA (U.S. Food and Drug Administration) pivotal study for the neurosurgical application of essential tremors. Insightec will open a new therapeutic horizon that will benefit millions of patients,” Ferré said.

“We are pleased and honored to welcome Maurice to our board as our executive chairman,” said Kobi Vortman, M.D., Insightec’s CEO. “He has an impressive track record of building companies. Maurice’s commercial and clinical skills will help INSIGHTEC achieve widespread awareness and commercial adoption of our technology. We would also like to convey our appreciation to Tom Gentile, our former chairman, who was recently appointed president and chief operating officer of GE Capital. Tom led the Insightec board of directors through a critical period during which Insightec received its second FDA PMA (premarket approval) application for the treatment of painful metastatic bone tumors, secured its first Chinese FDA approval for treating uterine fibroids, and successfully completed the feasibility study demonstrating the ability to treat essential tremor. Tom will continue as a director, which will allow Insightec to benefit from his vast industry and medical knowledge“.

Ferré’s appointment follows the Japanese approval of Insightec’s ExAblate MRgFUS system. The clearance covers the use of ExAblate for pain palliation caused by bone metastases and for advanced treatment of uterine fibroids, according to Elbit Imaging. GE Healthcare holds the approval for ExAblate and will distribute the system in Japan, Elbit said.
 
Insightec develops magnetic resonance-guided focused ultrasound (MRgFUS). The company, founded in 1999, has developed a completely non-invasive therapy platform for neurosurgery, oncology and gynecology indications. MRgFUS is already adopted and used by world recognized physicians in more than 120 leading medical facilities around the world, according to the company.

Insightec is privately held by GE Healthcare, Elbit Imaging, York Capital Management, GEOC Hengtong Investment Limited Partnership and MediTech Advisors. The firm is headquartered in Tirat Carmel, Israel, and has offices Dallas, Texas, and Milwaukee, Wis.