Elekta AB (publ) today announced it has divested its Anatomic Pathology Information System business, marketed under the brand name PowerPath®, a software line that manages workflow for laboratories offering surgical pathology, cytology, dermatopathology and autopsy services.
The consideration amounts to SEK 225 M, through an asset purchase structure on a cash and debt-free basis. The buyer is Sunquest Information Systems, Inc., a US based company providing closely related diagnostic IT solutions. During fiscal year 2010/11 the Pathology Information System generated revenues of approximately SEK 80 M and EBIT of SEK 19 M with 44 employees in the U.S. During the past ten years the organic growth rate has been modest.
“The PowerPath product line came to Elekta as part of the acquisition of IMPAC Medical Systems Inc. in 2005. PowerPath is clearly a leading brand in its sector with an impressive customer list of prestigious institutions. However, the synergies between PowerPath and Elekta have been limited and we expect that PowerPath will have good prospects with Sunquest, given their more complimentary business”, said Tomas Puusepp, President and CEO of Elekta.
The transaction is expected to result in a capital gain of approximately SEK 170 M before tax and to add approximately SEK 1.10 to earnings per share in Elekta’s fiscal year 2011/12.
For questions, please contact:
Håkan Bergström, CFO, Elekta AB (publ)
+46 8 587 25 547, firstname.lastname@example.org
Stina Thorman, Vice President Corporate Communications, Elekta AB (publ)
+46 8 587 25 437, email@example.com
Johan Andersson Melbi, Investor Relations Manager, Elekta AB (publ)
+46 702 100 451, firstname.lastname@example.org (email@example.com)
Elekta is a human care company pioneering significant innovations and clinical solutions for treating cancer and brain disorders. The company develops sophisticated, state-of-the-art tools and treatment planning systems for radiation therapy, radiosurgery and brachytherapy, as well as workflow enhancing software systems across the spectrum of cancer care.Stretching the boundaries of science and technology, providing intelligent and resource-efficient solutions that offer confidence to both healthcare providers and patients, Elekta aims to improve, prolong and even save patient lives.Today, Elekta solutions in oncology and neurosurgery are used in over 6,000 hospitals worldwide. Elekta employs around 3,300 employees globally. The corporate headquarters is located in Stockholm, Sweden, and the company is listed on the Nordic Exchange under the ticker EKTAb.About SunquestSunquest Information Systems, Inc. delivers market leading diagnostic information technology and outreach solutions designed to fulfill the business objectives of today's healthcare leaders. Headquartered in Tucson, Arizona, the company has offices in Raleigh, North Carolina; Norwich, United Kingdom; and Bangalore, India, Sunquest serves the global marketplace with reliable technology required for mission critical applications. These solutions provide the foundation to optimize the healthcare experience, deliver safe, effective, and timely patient care, expand community reach, and transform the delivery of healthcare with predictive and personalized medicine. For more information about Sunquest please visit www.sunquestinfo.com