Radiopharmaceutical provider North American Scientific (NAS) has signed an agreement to acquire intensity-modulated radiation therapy (IMRT) provider Nomos in a deal valued at approximately $56 million.
If completed, the deal would allow NAS to offer a broad range of products and services to the radiation oncology market. Under the terms of the deal, NAS would issue approximately 5.3 million shares and pay cash of approximately $12 million in exchange for all of Nomos’ outstanding capital stock.
Following the transaction, NAS stockholders would own approximately 62.5% of the combined company, with Nomos stockholders owning approximately 37.5%. NAS said it intends to retain the Nomos management team and technical and support staff. It also plans to maintain Nomos facilities in the U.S., Europe, and China.
The deal is expected to close in February 2004 and is subject to customary closing conditions, including approval by the stockholders of both companies. For the 12 months ending September 30, Cranberry Township, PA-based Nomos had approximately $31 million in revenues.
By AuntMinnie.com staff writersOctober 27, 2003
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