Analogic has sold its 14.6% stake in Cedara Software, realizing net proceeds of $50.8 million.
Analogic president and CEO John Wood said that the company had originally invested in Cedara in September 2001 to secure access to its medical imaging software. With the firm's turnaround, Cedara no longer requires Analogic's ongoing support, and Analogic anticipates it will continue to meet its objectives in medical imaging software through various contractual arrangements and strategic alliances, Wood said.
Cedara recently signed a long-term contract to provide its image processing software to Analogic and its subsidiaries, including digital x-ray division Anexa. Cedara and Anexa also inked a cooperative agreement in which each firms' sales organizations would promote each other's products and work jointly to offer integrated imaging systems to end-users in the North American market.
By AuntMinnie.com staff writersFebruary 18, 2005
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Merge to join with Cedara, January 18, 2005
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