Koch Industries Backs Medical Device Company InSightec in Series F Round
Koch Disruptive Technologies, the venture capital arm of Koch Industries, has committed to investing up to $150 million in Insightec according to a post-money valuation of $1.3 billion
Koch Disruptive Technologies (KDT), the venture capital arm of Koch Industries Inc., has committed to investing up to $150 million into Haifa, Israel-based medical device company InSightec Ltd., the latter announced Friday. The series F investment is done according to a company valuation of $1.3 billion.
Founded in 1999, InSightec develops MRI-guided ultrasound devices for targeted surgeries to treat certain movement disorders in patients suffering from essential tremor and Parkinson's disease. The company’s essential tremor treatment is now approved for reimbursement coverage in the U.S. and is being used in more than 65 medical centers globally, according to the company’s statement. InSightec has raised more than $368 million to date, according to Pitchbook data, $250 of which is from KDT.
The company intends to use the funds to expand its research.
Charles Koch. Photo: Robert Deutsch