Radiation therapy developer North American Scientific (NAS) of Chatsworth, CA, will sell its Nomos Radiation Oncology business to privately held Best Medical International of Springfield, VA.
The transaction, which could close as soon as September 17, is valued at approximately $3.6 million. The purchase price is $500,000 cash at closing, plus the assumption of certain obligations and liabilities, which include approximately $3.1 million of liabilities for warranty and maintenance agreements.
The agreement calls for Best Medical to acquire Nomos' assets, including the stock of Nomos subsidiaries Nomos GmbH and Nomos China USA. Best Medical also would buy the Nomos facility lease in Cranberry Township, PA.
In a written statement, NAS president and CEO John Rush said the transaction would allow NAS to focus its resources on the marketing and development of the company's brachytherapy products for the treatment of cancer, including ClearPath HDR and ClearPath CR for the treatment of breast cancer.
He added that NAS' goal is to increase its participation in the breast and prostate cancer markets, which the company estimated to be worth more than $800 million.
By AuntMinnie.com staff writers
September 12, 2007
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NAS taps Rush as president, CEO, March 23, 2007
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