Elbit Systems’ Medical Device Spin-Off, Beyeonics, Raises $36 Million

HAIFA, Israel, Oct. 3, 2021 /PRNewswire/ — Elbit Systems Ltd. (NASDAQ: ESLT and TASE: ESLT) (“Elbit Systems”) announced today that its subsidiaries, Beyeonics Surgical Ltd. (“Beyeonics Surgical”) and Beyeonics Vision Ltd. (“Beyeonics Vision”), concluded a financing round in an aggregate amount of $36 million. The financing round is comprised of an investment in Beyeonics Surgical and Beyeonics Vision in an aggregate amount of $26 million led by the Italian investment fund TechWald Holding and the Israeli investment fund Alive Israel HealthTech and with participation of the existing shareholders LR Group, XT Hi-Tech, Aurum Ventures and Mivtach Shamir; and a $10 million convertible loan to Beyeonics Vision by global surgical ophthalmic company BVI Medical (“BVI”). Following the investment, Elbit Systems is a minority shareholder in Beyeonics Surgical and Beyeonics Vision.

Beyeonics Surgical and Beyeonics Vision are medical…

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