InMode evaluates strategic alternatives amid acquisition speculation

InMode Ltd. (NASDAQ: INMD) said it is evaluating potential strategic alternatives following market speculation about a non-binding proposal from Steel Partners Holdings L.P. to acquire 51% of the company's outstanding shares.

The medical technology company established a committee of independent directors to oversee the review process. The committee has retained independent legal and financial advisors and will evaluate any matters presented to it, including proposals involving third parties or members of management or their affiliates.

InMode stated the committee will act in accordance with its fiduciary duties and the best interests of the company and all shareholders. The company noted it does not typically comment on market rumors but made an exception to inform investors about the ongoing evaluation.

The company said there can be no assurance the review will result in a transaction or other strategic outcome, or regarding the timing or terms of any such transaction. InMode does not intend to provide additional updates unless required under applicable law or regulation.

InMode develops, manufactures and markets medical devices using radio frequency technology for plastic surgery, gynecology, dermatology, otolaryngology and ophthalmology procedures. The company is based in Yokneam, Israel.

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