Sectra (OMX:SECTB) announced that it sold its MicroDose mammography sector to Royal Philips Healthcare (NYSE:PHG) this week.
Philips paid $82 million in cash up front, and the agreement includes room for $18 million more pending specially agreed terms and conditions.
About 110 Sectra employees are expected to transfer with the business.
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MassDevice Staff Website The Massachusetts Medical Devices Journal is the online journal of the medical devices industry in the Commonwealth and New England, providing day-to-day coverage of the devices that save lives, the people behind them, and the burgeoning trends and developments within the industry.
“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,” said says Jan-Olof Brüer, president & CEO of Sectra in a release.
“Our MicroDose technology will now save even more women lives, since it will be much faster spread around the globe through Philips’ vast distribution network,” Brüer added.
Sectra won FDA clearance for the MicroDose technology last month. The first-of-its-kind technology enables women to benefit from significant reduction of radiation exposure during routine breast exams. MicroDose uses about half the usual radiation dose necessary for mammography.
The transaction is expected to close during the third calendar quarter of 2011.
A Deep-dive Into Specialty Pharma
A specialty drug is a class of prescription medications used to treat complex, chronic or rare medical conditions. Although this classification was originally intended to define the treatment of rare, also termed “orphan” diseases, affecting fewer than 200,000 people in the US, more recently, specialty drugs have emerged as the cornerstone of treatment for chronic and complex diseases such as cancer, autoimmune conditions, diabetes, hepatitis C, and HIV/AIDS.
photo courtesy Flickr user sectramedicalsystems
The Massachusetts Medical Devices Journal is the online journal of the medical devices industry in the Commonwealth and New England, providing day-to-day coverage of the devices that save lives, the people behind them, and the burgeoning trends and developments within the industry.
