The Israeli Elscint Ltd. sold its 50 percent stake in Elgems Ltd., a medical systems manufacturer, to GE Medical Systems for $30 million, The Jerusalem Post reported on Friday.
Meanwhile, Elscint, which is 55 percent controlled by Elbit Medical Imaging Ltd., has signed an agreement to continue supplying Elgems with various components used in Elgem's nuclear imaging products, the Israeli daily said.
"We are not exiting the field,“ Elscint president Rachel Lavine was quoted by the Jerusalem Post as saying.
"As a preferred supplier to GE, this is our way of remaining active in the industry. This allows us to expand the volume of operations of the Ma'alot manufacturing facility," she said - Albawaba.com
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