Elscint Limited

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International Guild of Hospitality & Restaurant Managers

Elscint Limited (ELT)

Elscint Limited, incorporated in 1969, is engaged in the ownership and operation of hotels in Europe and of hotel projects that are under development (through subsidiary companies and jointly controlled companies). The Company is also engaged in the ownership, through a wholly owned subsidiary, of an entertainment and commercial center, which is under construction, in Herzlia , Israel ; industrial manufacturing of components for the medical imaging and other high-technology fields, and venture capital investments in the biotechnology and biomedical industries. Until November 1998, Elscint was engaged primarily in the medical imaging device manufacturing field.

Hotel and Leisure

The Company's hotels are generally situated in close proximity to major railway links into cities, such as the Astrid Park Plaza Hotel, which is adjacent to the central railway station in Antwerp, and the Victoria Park Plaza, which is in close proximity to the Victoria railway station in London, both of which stations are scheduled to accommodate the services of the train de grand vitesse (the TGV) when such services become operational in these areas. Elscint's hotels offer convenient access to the local business districts, as well as attractive conference facilities. Its hotels make considerable efforts to offer personal services at a five-star level, but at four-star level prices. Hotels offer services and guest facilities to their patrons, with emphasis on advanced hi-tech services, such as Internet connections in rooms and a fully equipped business center with facsimile, photocopying services and e-mail and computer link-ups, as well as fitness centers, indoor swimming pools and saunas. The Company's hotels' principal target customer base is the business traveler and the tourist industry, both individuals and groups.

Elscint's hotels focus on strategic cooperation and affiliation with a single management company with know-how and expertise in hotel management under the Park Plaza trade-name through management and sub-franchise agreements with Park Plaza, which enables optimal use of a centralized reservation system, and which is beneficial due to the advantages of a unified management system that promotes the efficiency of the operation and control of hotels in diverse locations. The development and implementation of an efficient cost management system is implemented to reduce overhead costs to a minimum.

The Company competes with Holiday Inn hotel, the Mercury Hotel, the President Hotel, Hilton, Crown Plaza, Park Lane, Kings Cross, Forte Post, Grafton, The White House, Thistle Grosvenor and the Victoria Holiday Inn, Thistle Royal Westminster, Rubens, Status Street, Ennins, St. James's Court, Merchant Court, Kempinski, Marriott and Inter-Continental.

Entertainment and Commercial Center

The Company's entertainment and commercial center is located in the heart of, and faces, the Herzlia Marina, which is a prestigious land development project in Israel . The principal features of Elscint's business strategy for the entertainment and commercial center include: the creation of a distinctively aesthetic and architecturally pleasant structure at a prime location overlooking the Herzlia Marina and the shores of the Mediterranean Sea; an aggressive marketing campaign to attract brand-name retailer and entertainment service provider tenants; offering a wide range of entertainment facilities, together with a variety of retail opportunities; providing ease of access and ample parking facilities for patrons, and a dynamic management program for the center designed to foster the interest of patrons.

Component Manufacturing

Elscint's factory in Ma'alot, Israel is engaged in the contract manufacturing of high-end electronic components, highly complex machine systems and products, including integration of sub-systems and assemblies. The factory has full-service engineering and manufacturing facilities. The Company's strategic plan is to offer a wide range of industrial and commercial applications, with total turnkey services from conception and proto-typing through engineering and rapid production to direct customer delivery. The factory, which has various quality and safety certifications (such as ISO 9002 EN46002). offers advanced production services, reaching a high level of precision and sophistication applying proven methods of cost reduction.

While the majority of the factory's orders are still received from the owners of the Company's prior medical imaging business, Philips, ELGEMS and GEMS, the factory has succeeded in expanding its customer base to include clients, such as Kullicke & Soffa (Israel) Ltd., Applied Materials Israel Ltd., Orbotech Ltd., Indigo (HP), Direx Medical Systems, Alayana Ltd., Scitex-Vision, Odin Ltd., InSightec - Imaging Guided Treatment Ltd. (InSightec) and TxSonics Ltd. (both subsidiaries of Elbit Medical Imaging Ltd. (its indirect parent company) and Kolscint Ltd.

Venture Capital Investments

During 2001, the Company expanded its investment in the biotechnology business, and discontinued its investment in Gilbridge Holdings Ltd. (Gilbridge). Elscint Bio-Medical Ltd. (EBM), since its establishment in early 2000, has focused on investments in early stage biotechnology companies. EBM has also commenced negotiations with medical institutions in Israel with a view to jointly establish an umbilical cord blood bank.

Elscint's growth strategy in this segment is to identify high-potential, start-up companies in the biotechnology business for early strategic investments when the valuations of such start-up companies are low, with a view to maximizing returns at a later stage upon an exit event. In addition, the Company plans to provide business guidance and professional advice to investee companies for the development of business plans, research and development and marketing programs; to establish and operate, through EBM, an umbilical cord blood bank to facilitate early market penetration for products in a field with high potential, including investments in companies whose end products can complement the bank's operations, and to focus on investments that are synergetic with EMB's first investment in Gamida Cell Ltd. (Gamida), and other investments with a commercial potential.

Disclaimer:
The data included within the Financial section is solely for information and does not construe a recommendation and/or endorsement by IGHRM or its members to invest funds with any of the companies listed. You are strongly advised to obtain professional advice with qualified individuals or corporations for any investments of funds.

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