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Aryt Industries to incorporate medical activity into Pionet Venture Investments

Pionet will launch negotiations to buy three medical equipment companies

Pionet Venture Capital Investments (TASE:PNTV), the control of which was sold for $1 million to Aryt Industries, today announced its board approved negotiations to acquire three medical companies.

The company said the acquisitions are related to ElscinTec Systems, a developer and manufacturer of mammography equipment for early detection of breast cancer, and to SigMed, a manufacturer of biopsy robot systems. Aryt's medical division has a 28% stake in SigMed and a 50% stake in ElscinTec.

Pionet, inactive since March 2001, plans to work in medical technologies and particularly in the breast cancer field through the companies it will acquire. The company's board has as a result recommended the company name be changed to Aryt Medical.

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