Technology firm Del Global Technologies has decided to retain its medical imaging division rather than sell it off, the Valhalla, NY-based company announced yesterday.
The news comes a week after the collapse of a plan to sell the vendor's Del Medical Systems Group to an unnamed company. The company said that it had conducted a strategic review of its alternatives and determined that its best course of action would be to continue as a standalone entity.
Del announced in August 2004 that it had put pieces of the company on the block and was soliciting buyout offers. The move was made in part to help the company pay a $5 million fine assessed by the U.S. Department of Defense related to the company's RFI power-conversion division.
In addition to the collapse of the divestiture deal, Del's return to profitability in recent quarters helped nudge the company toward a decision to remain independent, according to the vendor. In addition to the medical division, Del retains its power-conversion business.
By AuntMinnie.com staff writers
March 31, 2005
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