Heralding its move into the market for equipment optimized for breast screening, Philips Healthcare has inked an agreement with Sectra AB to acquire the vast majority of the latter’s Mamea AB low-dose mammography division for 57.5 million euros ($82 million U.S.) in cash upfront, plus an additional 1 million euros ($18 million) pending the fulfillment of certain additional conditions.
Philips’ management considers the acquisition a means of expanding the company’s breast care portfolio. Its dedicated digital mammography unit, the MammoDiagnost DR, is currently available only in Europe. "We have a mammography product that has been optimized for diagnostic breast imaging, but what we didn’t have was a product that was optimized for breast screening," notes Steve Klink, a Philips spokesperson.
Executives of Linkoping, Sweden-based Sectra said the sale, which is slated for completion in the third quarter of 2011, will allow the company to focus on developing its medical imaging IT business, as well as its orthopedics, osteoporosis assessment, and rheumatology portfolios. The transaction includes Sectra's worldwide mammography operations, except for Australia and New Zealand. In the latter two countries, the vendor will continue to sell and service its MicroDose low-dose mammography equipment under a separate distribution agreement with Philips.
—Julie Ritzer Ross