Women's imaging vendor Fischer Imaging of Denver has entered into a deal to sell the intellectual property of its mammography business and products to Hologic of Bedford, MA, for $32 million.
The deal includes Fischer's flagship SenoScan full-field digital mammography (FFDM) system, as well as the company's MammoTest stereotactic breast biopsy system.
Hologic also agreed to extend Fischer a $5 million secured loan as part of the deal, with the amount credited toward the $32 million purchase price if the agreement is executed. The acquisition is expected to close in 90-120 days, according to Hologic.
Fischer recently announced that it was facing liquidity issues and was taking steps to investigate strategic alternatives. Fischer president and CEO Harris Ravine called the deal a "difficult decision" but said the agreement would allow the company to pay outstanding obligations and to explore strategic alternatives for its radiology, electrophysiology, and surgical businesses.
Fischer would continue to service and support the installed base of SenoScan and MammoTest systems, and maintain its existing contractual obligations for providing SenoScan and MammoTest systems to Philips Medical Systems and Ethicon Endo-Surgery, respectively.
By AuntMinnie.com staff writers
June 23, 2005
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Fischer late with 10-Q report, May 17, 2005
Fischer's 2004 net loss narrows on higher sales, April 1, 2005
Fischer nets SenoScan installs, December 9, 2004
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