Medical imaging component provider Analogic has purchased a 19% interest in PACS and imaging software developer Cedara Software for $7.5 million (U.S.) and other considerations.
Analogic and Cedara both have major customers in common, said Analogic chairman Bernard Gordon. Cedara is an OEM provider of imaging software technology and custom software development, while Analogic provides OEMs with imaging systems and advanced subsystems. The firms believe that the combination of both product lines will allow OEM clients to bring technology to market quicker and at reduced cost.
As part of the deal, Peabody, MA-based Analogic has agreed to refinance debt owed by Cedara to its bank lender through the provision of a credit facility with Analogic's principal bank, or by directly refinancing the debt. In addition, Analogic will have two of the seats on Cedara's seven-person board of directors.
By AuntMinnie.com staff writersSeptember 28, 2001
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