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Monday, 13 May 2013

Biosensors buys clinical apps firm for US$51m


CST3513
Biosensors International Group has signed an agreement to acquire the assets of Spectrum Dynamics for about US$51.1 million (S$63.3 million) - PHOTO: ST

Biosensors International Group has signed an agreement to acquire the assets of Spectrum Dynamics for about US$51.1 million (S$63.3 million).

It will also make further payments up to US$4 million in 2014, and up to US$15 million in 2016 to Spectrum Dynamics, if certain performance benchmarks are met, it said.

Under the terms of the deal, the two companies will also create a joint venture aimed at developing future non-cardiac applications. Biosensors expects the transaction to be moderately accretive to its earnings in 2015.

Spectrum Dynamics is a privately held medical imaging and clinical applications company that has developed innovative technology providing high-speed, high-resolution functional 3D images to help physicians determine the most appropriate treatment for their patients.

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