Sectra and Philips sign acquisition deal

The cash purchase consideration amounts to EUR 57.5 million on cash and debt-free basis. The agreement also includes an additional possible earn-out EUR 12.5 million in accordance with specially agreed terms and conditions. The transaction comprises Sectra’s mammography modality operations worldwide, except for Australia and New Zeeland where Sectra will continue to sell and service Sectra MicroDose Mammography under a separate distribution agreement with Philips. The mammography modality operations include the legal entity Sectra Mamea AB and modality operations in Sectra’s sales and service organizations. Approximately 110 employees are expected to transfer with the business. The transaction is subject to certain contractual and other closing conditions. The completion of the transaction is expected to occur during the third calendar quarter of 2011.