from the November 2012 issue

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Israeli medical device firm InSightec Ltd. said Monday that the Food and Drug Administration expanded the indications for its MRI-guided focused ultrasound system so it can now be used to relieve pain in patients whose cancer has metastasized and traveled to the bone.

The system, ExAblate, uses real-time MR imaging to guide pulses of acoustic ultrasound energy that heat up and destroy the pain-causing nerves, the Tirat Carmel, Israel-based company said.

Magic named to Deloitte Israel Technology Fast 50 for second consecutive year Magic Software Enterprises Ltd. (NASDAQ: MGIC), a global provider of software platforms for enterprise mobility, cloud applications, and business integration, announced that it has been named to the 2012 Deloitte Israel Technology Fast 50, the ranking of the 50 fastest-growing technology companies in Israel, for the second consecutive year.

The Deloitte Technology Fast 50, one of Israel's foremost technology award programs, is a ranking of the country's 50 fastest-growing technology companies based on percentage growth over five years. The Fast 50 program honors business growth, technological innovation and Israel entrepreneurial spirit.

"Being named to the 2012 Deloitte Israel Technology Fast 50 for two years in a row is especially significant because it comes during challenging economic times. As an established technology company, this achievement is testament to Magic's commitment to providing enterprise customers with smart, future-proof technology and our determination to see them succeed," stated Guy Bernstein, CEO of Magic Software Enterprises. "We are proud of our growth and expect it to continue thanks to our broad global presence, strong management team and high demand for our products and professional services spurred by the very hot mobile enterprise market."

"Because the Deloitte Brightman Almagor Zohar Fast 50 measures sustained revenue growth over five years, being one of the 50 fastest-growing technology companies in Israel is an impressive achievement," said Tal Chen, partner in charge of the Deloitte Brightman Almagor Zohar Israel Technology Fast 50 Program. "Magic deserves a lot of credit for its remarkable growth."

Reprinted from the Israel High-Tech & Investment Report November 2012

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