Elbit Imaging

Elbit Imaging is an Israeli holding company whose origins lie in the medical-imaging activities of Elbit and Elron Electronic Industries. The business began taking shape around 1990, when Elbit's medical division acquired a majority interest in Elscint, an Israeli developer of diagnostic-imaging systems. Elscint had been established in 1969 and developed technologies associated with MRI and CT scanning. Elbit Imaging therefore originated as a technology and medical-device enterprise rather than as a property or consumer brand. In 1996, Elbit was separated into three independent companies, and Elbit Medical Imaging was established as a separately listed company. Its original imaging activities were subsequently sold during 1999 and 2000 to GE Healthcare and Picker, the business that later became part of Philips Medical Systems. These transactions effectively removed the operating medical-imaging equipment business from the group and provided the basis for a broader corporate transformation. A decisive change occurred in 1999, when Elron sold its interest in Elbit Medical Imaging to Europe-Israel Ltd., a company controlled by real-estate developer Mordechai, or Moti, Zisser. Following the transaction, Zisser combined his existing property interests with the company and repositioned it as a diversified holding group. Its activities included development of real estate, hotels, shopping and entertainment centers, industrial manufacturing and medical-imaging components, and investments in technology and biotechnology. The group subsequently became associated with large-scale commercial property development in Central and Eastern Europe. Through Plaza Centers N.V., an indirect subsidiary, it developed shopping and entertainment centers and pursued major projects such as Casa Radio, also known as Dâmboviţa Center, in Bucharest, and Dream Island in Budapest. Its hotel portfolio included operating properties in the United Kingdom, the Netherlands, Belgium, and Romania. The company also maintained interests in biotechnology and medical devices, including Insightec and Gamida Cell, as well as technology holdings such as Olive Software and Easyrun. Elbit Imaging also participated in Israeli retail through Elbit Trade and Retail, which held local franchise operations for Gap and Mango. This portfolio reflected the company's shift from a focused medical-technology enterprise toward an investment and holding-company model with exposure to property, hospitality, retail, life sciences, and software. The group pursued public-market financing for its real-estate platform. Plaza Centers was listed on the London Stock Exchange in 2006 and later on the Warsaw Stock Exchange in 2007. In the same period, Elbit Medical Imaging changed its name to Elbit Imaging, formalizing the broader identity created after the divestiture of its original imaging operations. Available reference material describes the company through its portfolio and corporate transactions, but does not establish a current operating structure, headquarters address, website, or definitive present-day listing status.

Elbit Imaging developed out of the medical-technology activities associated with Elbit and Elron Electronic Industries. In 1990, Elbit's medical arm acquired a majority stake in Elscint, an Israeli company founded in 1969 that had developed MRI, CT, and other diagnostic-imaging systems. The transaction connected Elbit's corporate structure with one of Israel's early medical-imaging pioneers. In 1996, Elbit was separated into three independent companies. Elbit Medical Imaging became a separately listed entity, retaining the medical-imaging identity associated with its origins. That identity changed materially in 1999 and 2000, when Elscint and Elbit Medical Imaging sold their imaging activities to GE Healthcare and Picker, which later became part of Philips Medical Systems. The sales marked the effective exit from the group's original imaging-equipment business. Ownership and strategy changed in 1999. Elron sold its entire interest in Elbit Medical Imaging to Europe-Israel Ltd., a company controlled by Moti Zisser. After the acquisition, Zisser integrated existing real-estate activities into the company and reorganized it as a diversified holding group. The portfolio covered real-estate and hotel development, shopping and entertainment centers, industrial manufacturing and medical-imaging components, and venture investments in high-technology and biotechnology companies. The property strategy became particularly visible through Plaza Centers N.V., an indirect subsidiary focused on shopping and entertainment centers in Central and Eastern Europe. Plaza Centers was listed in London in 2006 and in Warsaw in 2007. Elbit Imaging's property activities included the Arena Plaza mall in Budapest, which was sold during construction and opened in November 2007. Larger development projects included Casa Radio, or Dâmboviţa Center, in Bucharest, and Dream Island in Budapest. The holding company also maintained a hotel portfolio with operating rooms in the United Kingdom, Netherlands, Belgium, and Romania. Other portfolio interests included Insightec and Gamida Cell in medical devices and biotechnology, Olive Software in digital publishing and archiving solutions, and Easyrun in call-center software. Through Elbit Trade and Retail, the group held Israeli franchise activities for Gap and Mango. In November 2007, the company changed its name from Elbit Medical Imaging Ltd. to Elbit Imaging Ltd. The renaming captured the distance between its original medical-imaging mission and its diversified portfolio. Reference material also records 2014 discussions regarding the possible purchase of Gamida Cell. The available sources do not provide enough current information to determine the company's active operating status, current management, present ownership, or whether its historic securities remain listed.

• 2014

  Talks concerning Gamida Cell were announced

  [1]Elbit Imagingen.wikipedia.org

  Elbit Imaging announced discussions about a possible purchase of Gamida Cell.

• 2007

  Plaza Centers listed in Warsaw

  [1]Elbit Imagingen.wikipedia.org

  Plaza Centers shares were additionally admitted to trading on the Warsaw Stock Exchange.

• 2007

  Arena Plaza was sold and opened

  [1]Elbit Imagingen.wikipedia.org

  Arena Plaza in Budapest was sold during construction and opened in November of the same year.

• 2007

  The company adopted the Elbit Imaging name

  [1]Elbit Imagingen.wikipedia.org

  Elbit Medical Imaging Ltd. changed its name to Elbit Imaging Ltd.

• 2006

  Plaza Centers listed in London

  [1]Elbit Imagingen.wikipedia.org

  The indirect subsidiary Plaza Centers N.V. was listed on the London Stock Exchange.

• 2005

  Elscint was acquired by Elbit Medical Imaging

  [1]Elbit Imagingen.wikipedia.org

  Elbit Medical Imaging acquired Elscint, by then no longer operating as an original medical-imaging equipment business.

• 1999

  Europe-Israel acquired Elbit Medical Imaging

  [1]Elbit Imagingen.wikipedia.org

  Europe-Israel Ltd., controlled by Moti Zisser, acquired Elron's holdings and began integrating real-estate activities into the company.

• 1999

  Medical-imaging activities began to be divested

  [1]Elbit Imagingen.wikipedia.org

  Elscint and Elbit Medical Imaging sold imaging activities to GE Healthcare and Picker during 1999–2000.

• 1996

  Elbit Medical Imaging became an independent listed company

  [1]Elbit Imagingen.wikipedia.org

  Following the separation of Elbit into three companies, Elbit Medical Imaging was created as a separate NASDAQ-listed entity.

• 1990

  Elbit medical division acquired a majority stake in Elscint

  [1]Elbit Imagingen.wikipedia.org

  The acquisition connected Elbit's medical arm with Elscint, an Israeli developer of diagnostic-imaging equipment.

A diversified Israeli investment and holding company that transitioned from medical-imaging technology to property development, hospitality, retail, life sciences, and technology investments.

• Shopping and entertainment centers

  Plaza Centers

  Plaza Centers N.V. was an indirect Elbit Imaging subsidiary focused on developing shopping and entertainment centers, particularly in Central and Eastern Europe. Its portfolio and development pipeline represented the company's principal real-estate platform and included projects such as Arena Plaza in Budapest, Casa Radio in Bucharest, and Dream Island in Budapest.

• Hospitality

  Hotel portfolio

  Elbit Imaging's diversified holdings included operating hotels in the United Kingdom, Netherlands, Belgium, and Romania. The hotel business complemented its property-development activities and formed part of the group's international real-estate and hospitality portfolio.

• Retail franchising

  Elbit Trade and Retail

  Elbit Trade and Retail represented the group's Israeli retail activities. It held franchise operations for Gap and Mango, giving Elbit Imaging exposure to international apparel brands through local retail rather than through wholly owned global consumer brands.

• Medical devices

  Insightec

  Insightec was identified as one of Elbit Imaging's medical-device holdings. The available reference does not specify the precise ownership structure, product range, or current relationship between the two companies.

• Biotechnology

  Gamida Cell

  Gamida Cell was included among the group's biotechnology interests. In 2014, Elbit Imaging announced discussions concerning a possible purchase, but the supplied material does not establish that a transaction was completed.

• Publishing and archiving software

  Olive Software

  Olive Software was described as a technology holding providing digital-edition and digital-archiving solutions for the publishing industry. Elbit Imaging's reported interest was 18.33 percent in the cited reference material.

• Call-center software

  Easyrun

  Easyrun was identified as a provider of software solutions for call centers and as one of Elbit Imaging's high-technology investments. The cited material reports a 47.79 percent interest but does not provide current ownership information.

• 2014

  Discussions about purchasing Gamida CellM&A

  Background

  Gamida Cell was already identified as a biotechnology interest associated with Elbit Imaging.

  Action taken

  Elbit Imaging announced talks concerning a possible purchase of Gamida Cell.

  Aftermath

  The supplied material does not confirm whether the discussions resulted in a completed acquisition.

  Source

• 2007

  Renaming from Elbit Medical Imaging to Elbit ImagingStrategy

  Background

  The company had expanded well beyond medical-imaging equipment after divesting its original imaging activities and building a property- and investment-focused portfolio.

  Action taken

  The corporate name was changed to Elbit Imaging Ltd. in November 2007.

  Aftermath

  The new name emphasized the company's identity as a diversified holding group rather than a dedicated medical-imaging manufacturer.

  Source

• 1999

  Transformation into a diversified holding companyStrategy

  Background

  After Europe-Israel acquired Elbit Medical Imaging, the group's original medical-imaging focus was no longer sufficient to describe its activities, particularly as imaging operations were being sold.

  Action taken

  Moti Zisser integrated existing real-estate activities into the company and expanded its scope to property, hotels, shopping centers, industrial activities, technology, and biotechnology investments.

  Aftermath

  The company developed an investment-led portfolio and later changed its name to Elbit Imaging to reflect the broader business model.

  Source

1. 1Elbit Imagingen.wikipedia.org