InSightec: The Quest for ROI - Return On Imagination
Udi Aharoni, Erez Cohn, Alon Epstein, Shira Lifshiz
Organization:
InSightec
Industry:
Health care services, Manufacturing
Areas:
Marketing & Sales, Industry, Operations, Entrepreneurship, Innovation, Strategic Management, International Business, Technology
Description:
InSightec was established in 1999 by GE Healthcare (then GE Medical Systems) and Elbit Medical Imaging. The company was founded with a clear vision and mission, which still guide it today, to replace surgery with a non-invasive solution, and transform its MR guided focused ultrasound (MRgFUS) into a clinically viable technology. InSightec has two main products for delivering its focused ultrasound systems: ExAblate O.R., designed for treating most areas of the body, and ExAblate Neuro for treating disorders in the head. As of today, InSightec has regulatory approval for treating three medical conditions. Since its establishment, InSightec has invested close to $250 million in R&D however its sales are very low and the accumulated loss at the end of 2013 is $231 million. Management has set a goal to independently achieve sales of $125 million in 2018 compared to only $20 million on 2013 with its three current lines of applications (women's health, oncology, and neuro).