Italian imaging vendor Bracco has agreed to sell its Esaote ultrasound unit to a consortium of investors led by Italian bank Banca Intesa.
The consortium also includes Imi Investimenti, investment company Equinox, Mps Venture Banca Carige, and a group of managers headed by current Esaote chairman and CEO Carlo Castellano.
Bracco decided to sell Esaote as part of a strategy to develop its core business of contrast media and therapeutic products, focusing on new products in the molecular diagnostic and targeted therapy fields, said Bracco chairman and managing director Diana Bracco. The Milan, Italy-based firm said it's also strengthening its direct presence in international markets and redefining its identity.
For Banca Intesa, the transaction is aimed at sustaining Italy's development by supporting entrepreneurs who invest in innovation and long-term growth, according to the firm. Terms of the deal were not disclosed.
By AuntMinnie.com staff writers
January 23, 2006
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