North American Scientific to Divest Non-Therapeutic Product Line
Posted on: Thursday, 4 September 2008, 12:00 CDT
North American Scientific, a developer of radiation therapy devices, has signed a definitive agreement to sell its non-therapeutic product line to Eckert & Ziegler Isotope Products.
The product line includes radiation sources and standards used in a variety of areas for calibration, measurement, analysis and control.
The transaction is valued at approximately $6 million and is subject to customary conditions with an expected close by September 5, 2008.
John Rush, President and CEO of North American Scientific, said: "This divestiture allows us the opportunity to focus solely on growing the therapeutic areas of our business with our Prospera and ClearPath product lines for local radiation treatment for the prostate and breast cancer patient, while also providing the company with important non-dilutive capital to invest in ongoing operations."
Source: Datamonitor
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