<s>
Elscint	B-Algorithm
was	O
an	O
Israeli	O
technology	O
company	O
that	O
developed	O
,	O
manufactured	O
and	O
sold	O
medical	B-Application
imaging	I-Application
solutions	O
,	O
including	O
:	O
Nuclear	O
medicine	O
,	O
computed	O
tomography	O
magnetic	O
resonance	O
imaging	O
and	O
X-ray	B-Library
scanners	I-Library
.	O
</s>
<s>
Elscint	B-Algorithm
's	O
shares	O
traded	O
on	O
the	O
NASDAQ	O
as	O
well	O
as	O
on	O
the	O
Tel	O
Aviv	O
Stock	O
Exchange	O
.	O
</s>
<s>
At	O
its	O
height	O
,	O
Elscint	B-Algorithm
was	O
a	O
world	O
leader	O
in	O
the	O
development	O
of	O
medical	B-Application
imaging	I-Application
technologies	O
.	O
</s>
<s>
Most	O
of	O
Elscint	B-Algorithm
's	O
activities	O
were	O
sold	O
to	O
GE	O
Healthcare	O
and	O
Philips	O
Medical	O
Systems	O
.	O
</s>
<s>
Elscint	B-Algorithm
(	O
perhaps	O
a	O
portmanteau	O
of	O
the	O
words	O
"	O
electronic	O
"	O
and	O
"	O
scientific	O
,	O
but	O
more	O
likely	O
of	O
"	O
El	O
"	O
as	O
in	O
"	O
El	O
Al	O
"	O
,	O
and	O
"	O
Scint	O
"	O
,	O
as	O
in	O
scintillation	O
,	O
referring	O
to	O
the	O
type	O
of	O
radiation	O
detector	O
used	O
in	O
Nuclear	O
Medicine	O
as	O
in	O
Elscint	B-Algorithm
's	O
first	O
products	O
.	O
)	O
</s>
<s>
Elscint	B-Algorithm
was	O
founded	O
as	O
a	O
subsidiary	O
of	O
Elron	O
with	O
an	O
initial	O
investment	O
of	O
250.000	O
US	O
dollars	O
,	O
Suhami	O
was	O
appointed	O
as	O
the	O
company	O
's	O
CEO	O
and	O
Dan	O
Tolkovsky	O
(	O
who	O
was	O
the	O
CEO	O
of	O
Discount	O
Investment	O
Corporation	O
parent	O
of	O
Elron	O
at	O
the	O
time	O
)	O
was	O
appointed	O
as	O
Chairman	O
.	O
</s>
<s>
The	O
first	O
product	O
developed	O
by	O
the	O
company	O
was	O
a	O
nuclear	O
measurement	O
device	O
for	O
laboratory	O
testing	O
,	O
but	O
since	O
the	O
entire	O
global	O
market	O
for	O
the	O
device	O
was	O
a	O
few	O
hundred	O
units	O
,	O
which	O
sold	O
for	O
$	O
800	O
only	O
,	O
it	O
was	O
decided	O
to	O
refocus	O
on	O
the	O
field	O
of	O
medical	B-Application
imaging	I-Application
.	O
</s>
<s>
Elscint	B-Algorithm
's	O
first	O
product	O
in	O
this	O
field	O
was	O
a	O
nuclear	O
camera	O
designed	O
to	O
detect	O
cancer	O
,	O
but	O
it	O
failed	O
commercially	O
.	O
</s>
<s>
This	O
VDP1	O
was	O
the	O
Elscint	B-Algorithm
's	O
first	O
commercial	O
success	O
,	O
and	O
helped	O
the	O
company	O
to	O
reach	O
sales	O
of	O
a	O
million	O
dollars	O
,	O
with	O
a	O
loss	O
of	O
$	O
25,000	O
at	O
the	O
end	O
of	O
first	O
year	O
of	O
operation	O
.	O
</s>
<s>
The	O
VDP1	O
product	O
was	O
displayed	O
in	O
trade	O
show	O
in	O
Los	O
Angeles	O
and	O
drew	O
the	O
attention	O
of	O
General	O
Electric	O
,	O
the	O
world	O
leader	O
in	O
medical	B-Application
imaging	I-Application
;	O
and	O
in	O
1971	O
,	O
Elscint	B-Algorithm
and	O
General	O
Electric	O
signed	O
an	O
exclusive	O
distribution	O
agreement	O
in	O
North	O
America	O
.	O
</s>
<s>
In	O
1972	O
,	O
in	O
order	O
to	O
bring	O
the	O
company	O
's	O
products	O
to	O
world	O
markets	O
outside	O
North	O
America	O
,	O
Elscint	B-Algorithm
opened	O
its	O
first	O
international	O
sales	O
and	O
marketing	O
subsidiary	O
in	O
Belgium	O
.	O
</s>
<s>
In	O
1971	O
,	O
Fred	O
Adler	O
,	O
an	O
East	O
Coast	O
venture	O
capitalist	O
,	O
invested	O
in	O
Elscint	B-Algorithm
and	O
1972	O
helped	O
the	O
company	O
undertake	O
an	O
initial	O
public	O
offering	O
on	O
the	O
NASDAQ	O
,	O
making	O
Elscint	B-Algorithm
the	O
first	O
Israeli	O
company	O
to	O
list	O
on	O
the	O
NASDAQ	O
.	O
</s>
<s>
By	O
1975	O
,	O
sales	O
of	O
gamma	O
scanners	O
and	O
other	O
products	O
generated	O
$12	O
million	O
in	O
revenue	O
,	O
and	O
a	O
profit	O
of	O
$	O
400,000	O
for	O
Elscint	B-Algorithm
,	O
and	O
Avraham	O
Suhami	O
decided	O
to	O
enter	O
a	O
new	O
market	O
-	O
Computerized	O
tomography	O
,	O
at	O
the	O
time	O
a	O
new	O
emerging	O
medical	B-Application
imaging	I-Application
technology	O
.	O
</s>
<s>
That	O
year	O
,	O
Elscint	B-Algorithm
,	O
which	O
by	O
that	O
time	O
had	O
provided	O
more	O
than	O
100	O
CT	O
scanners	O
to	O
hospitals	O
and	O
research	O
institutes	O
around	O
the	O
world	O
,	O
acquired	O
Pfizer	O
's	O
CT	O
scanner	O
business	O
.	O
</s>
<s>
Elscint	B-Algorithm
's	O
market	O
share	O
grow	O
to	O
10	O
percent	O
by	O
the	O
middle	O
of	O
the	O
1980s	O
.	O
</s>
<s>
In	O
the	O
first	O
half	O
of	O
the	O
eighties	O
Elscint	B-Algorithm
acquired	O
several	O
other	O
companies	O
and	O
also	O
expanded	O
its	O
product	O
offering	O
to	O
nuclear	O
cameras	O
,	O
ultrasound	B-Application
,	O
digital	O
and	O
conventional	O
X-ray	B-Library
equipment	O
,	O
thus	O
providing	O
products	O
for	O
all	O
medical	B-Application
imaging	I-Application
technologies	O
.	O
</s>
<s>
In	O
addition	O
,	O
the	O
company	O
began	O
developing	O
its	O
own	O
equipment	O
for	O
the	O
latest	O
breakthrough	O
in	O
medical	B-Application
imaging	I-Application
at	O
the	O
time	O
,	O
magnetic	O
resonance	O
imaging	O
systems	O
.	O
</s>
<s>
The	O
company	O
had	O
more	O
than	O
3,000	O
employees	O
in	O
factories	O
,	O
research	O
and	O
development	O
facilities	O
in	O
Boston	O
,	O
England	O
,	O
Paris	O
,	O
Milan	O
,	O
Jerusalem	O
,	O
Haifa	B-Algorithm
and	O
Chicago	O
.	O
</s>
<s>
In	O
1990	O
Elbit	O
Computers	O
Ltd	O
,	O
a	O
sister	O
company	O
of	O
Elscint	B-Algorithm
,	O
and	O
a	O
subsidiary	O
of	O
Elron	O
,	O
acquired	O
a	O
majority	O
share	O
in	O
Elscint	B-Algorithm
.	O
</s>
<s>
In	O
1996	O
,	O
Elbit	O
Computers	O
was	O
spun	O
off	O
into	O
three	O
independent	O
companies	O
,	O
one	O
of	O
them	O
Elbit	O
Medical	B-Application
Imaging	I-Application
became	O
the	O
holding	O
company	O
of	O
Elscint	B-Algorithm
.	O
</s>
<s>
During	O
1999	O
and	O
2000	O
,	O
Elscint	B-Algorithm
and	O
Elbit	O
Medical	B-Application
Imaging	I-Application
sold	O
their	O
imaging	O
activities	O
to	O
GE	O
Healthcare	O
and	O
to	O
Philips	O
Medical	O
Systems	O
for	O
approximately	O
$600	O
million	O
.	O
</s>
<s>
In	O
1992	O
,	O
Elscint	B-Algorithm
introduced	O
Elscint	B-Algorithm
CT	O
Twin	O
,	O
the	O
world	O
's	O
first	O
multi-slice	O
(	O
actually	O
it	O
was	O
double-slice	O
)	O
CT	O
scanner	O
.	O
</s>
<s>
This	O
allowed	O
Siemens	O
to	O
enter	O
into	O
the	O
multi-slice	O
CT	O
game	O
and	O
Elscint	B-Algorithm
shorter	O
to	O
market	O
time	O
for	O
the	O
system	O
that	O
was	O
to	O
be	O
known	O
as	O
the	O
VolumeX	O
.	O
</s>
<s>
By	O
1996	O
,	O
Elscint	B-Algorithm
's	O
revenues	O
reached	O
$311	O
million	O
.	O
</s>
<s>
In	O
1999	O
,	O
Elron	O
Electronic	O
Industries	O
sold	O
all	O
its	O
holdings	O
in	O
Elbit	O
Medical	B-Application
Imaging	I-Application
to	O
Europe	O
Israel	O
Ltd.	O
,	O
formerly	O
an	O
Israeli	O
company	O
listed	O
on	O
the	O
Tel-Aviv	O
Stock	O
Exchange	O
and	O
controlled	O
by	O
real	O
estate	O
developer	O
Mordechay	O
(	O
Moti	O
)	O
Zisser	O
,	O
for	O
a	O
sum	O
of	O
approximately	O
$127.8	O
million	O
.	O
</s>
<s>
Following	O
the	O
acquisition	O
in	O
May	O
1999	O
,	O
Zisser	O
integrated	O
his	O
existing	O
real	O
estate	O
activities	O
into	O
the	O
company	O
and	O
restructured	O
Elbit	O
Medical	B-Application
Imaging	I-Application
as	O
a	O
holding	O
company	O
,	O
focusing	O
on	O
:	O
real	O
estate	O
,	O
hotels	O
development	O
,	O
shopping	O
and	O
entertainment	O
malls	O
.	O
</s>
<s>
In	O
2005	O
,	O
Elscint	B-Algorithm
was	O
delisted	O
and	O
became	O
a	O
wholly	O
owned	O
subsidiary	O
of	O
Elbit	O
Medical	B-Application
Imaging	I-Application
.	O
</s>
<s>
By	O
that	O
time	O
,	O
Elscint	B-Algorithm
was	O
no	O
longer	O
engaged	O
in	O
its	O
original	O
medical	B-Application
imaging	I-Application
equipment	O
activities	O
.	O
</s>
