InMode does not hold cash deposits as Silicon Valley Bank

InMode (INMD) announced that that it does not hold cash deposits or securities at Silicon Valley Bank (SIVB). 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.