PET developer CTI Molecular Imaging has acquired all the capital stock of Mirada Solutions, an Oxford, U.K.-based developer of fusion software applications for medical imaging workstations. CTI will incorporate Mirada’s image analysis and fusion software into all its direct-sale PET scanner workstations, according to the Knoxville, TN-based firm.
CTI said it paid approximately $22 million in cash and notes to acquire the company, plus the potential for incentive payments that are contingent upon the future financial performance of Mirada. As a result of the acquisition, CTI will take a one-time, non-cash pretax charge of approximately $1.3 million to write off in-process R&D expenses at Mirada. CTI expects the transaction to be neutral to its earnings results in fiscal 2004.
By AuntMinnie.com staff writers
August 19, 2003
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