Shares of InMode Ltd. (NASDAQ:INMD) gained about 2.5% in premarket trading on Monday after the company confirmed it is reviewing potential strategic alternatives.
The medical technology firm said it has formed a special committee made up of independent directors to manage and oversee the evaluation process. The committee has engaged external legal and financial advisers to assess a range of possibilities, including proposals that may involve third parties or members of management.
The update follows recent market speculation, including reports of a non-binding approach from Steel Partners Holdings L.P. to acquire a 51% stake in InMode, as well as comments recently attributed to the company’s chief executive officer.
InMode stressed that the review may not lead to any transaction or definitive strategic action and said it does not plan to provide additional commentary on the process unless disclosure is required under applicable laws or regulations.
The Israel-based group develops and manufactures radiofrequency-based medical devices used in a variety of aesthetic and minimally invasive procedures. It did not disclose a timeline for the review or specify which strategic paths are under consideration.