InMode Ltd. paused its takeover evaluation process following a legal challenge in an Israeli court. SP Strategic Holdings LLC, an affiliate of Steel Partners Holdings L.P., filed an urgent application against InMode and its directors on July 10, 2026. The filing seeks to stop a special committee from reviewing a buyout proposal submitted by M.N. Business Strategy Ltd.
The proposed buyout group includes InMode’s CEO. SP Strategic Holdings raised concerns regarding the independence of the directors evaluating the offer.
The court postponed a hearing on the matter until at least July 19, 2026. As a condition, the court barred InMode’s committee from approving or rejecting the acquisition proposal until after the hearing. This injunction introduces significant delay and uncertainty to the potential transaction.