Sectra and Philips Sign Large Mammography Modality Acquisition Deal

Sectra

and Royal Philips Electronics

have signed an agreement under which Philips will acquire Sectra's mammography modality operations.The cash purchase consideration amounts to EUR 57.5 million on cash and debt-free basis. The agreement also includes an additional possible earn-out EUR 12.5 million in accordance with specially agreed terms and conditions. Through this deal Sectra's Medical Systems business area gains a distinct approach towards medical imaging IT, in which IT systems for the management of mammography images, Sectra Breast Imaging PACS, will remain one of the core areas "This is an excellent transaction for all parties. Sectra will free up resources and funds that can be used to develop and expand our operations in medical imaging IT, in which we are among the major companies in the world for products for the management of digital radiology images," says Jan-Olof Brüer, President and CEO of Sectra AB. "Philips acquires a unique and competitive product and technology. The MicroDose modality operations and customers will benefit from the resources and knowledge that Philips, one of the world's leading suppliers of radiology equipment, will bring to the development of the product offering."