InSightec, an Israeli medical device company, is laying off 100 employees, which constitutes about 20% of its total workforce. The layoffs, announced in December 2023, affect 60 staff at its headquarters in Tirat Carmel, Israel, with the remainder from its global offices. The company, which develops MRI-guided focused ultrasound technology for treating essential tremor and Parkinson's disease, is undergoing restructuring. This follows a failed merger attempt with a SPAC two years prior that would have valued the company at $1.9 billion, leading to a significant drop in its valuation. InSightec, controlled by the Koch family and other investors, operates in the healthcare technology industry and is considered a significant player in the neuromodulation field.
