InMode Updates It Does Not Hold Cash Deposits at SVB

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Mar 13, 2023, 08:00 ET

YOKNEAM, Israel, March 13, 2023 /PRNewswire/ -- InMode Ltd. (NASDAQ: INMD), a leading global provider of innovative medical technologies, announced today that that it does not hold cash deposits or securities at Silicon Valley Bank. The company maintains its cash and non-insured deposits at U.S. money center banks and large Israeli financial institutions. As a result, the company does not expect the closure of Silicon Valley Bank to have an impact on its operations. The company will monitor for any effect on its suppliers, vendors and other strategic partners.

About InMode

InMode is a leading global provider of innovative medical technologies. InMode develops, manufactures, and markets devices harnessing novel radiofrequency ("RF") technology. InMode strives to enable new emerging surgical procedures as well as improve existing treatments. InMode has leveraged its medically accepted minimally invasive RF technologies to offer a comprehensive line of products across several categories for plastic surgery, gynecology, dermatology, otolaryngology, and ophthalmology. For more information about InMode, please visit www.inmodemd.com.

Investor Relations Contact:
Miri Segal-Scharia
MS-IR LLC
[email protected]
917-607-8654

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SOURCE InMode Ltd.