Breast cancer treatment technology provider Devicor Medical Products has inked a deal to acquire the gamma detection devices portfolio of Neoprobe.
Devicor, which currently provides distribution and marketing services to Neoprobe for these products, will pay $30 million in cash at closing plus an additional $20 million in royalties based on revenue milestones. The deal comes less than a year after its acquisition of Ethicon Endo-Surgery's Mammotome breast biopsy business.
The agreement is subject to approval by Neoprobe's shareholders, and the firms expect the sale will close shortly after the Neoprobe shareholder meeting in August.
